Charles Schwab Sr Manager, Community Development Investments in Henderson, Nevada


Henderson - NV, NV2360CC, 2360 Corporate Circle, 89074

Brittany Steichen


We believe that , when done right, investing liberates people to create their own destiny. We are driven by our purpose to champion every client’s goals with passion and integrity. We respect and appreciate the diversity of our employees, our clients, and the communities we serve. We challenge conventions strategically to create value for our clients, our firm and the world. We live and bring to life the concept of ‘own your tomorrow’ every day. We champion our employee strengths, guide their development, and invest in their long-term success. We hire optimistic, results-oriented, curious, innovative, and adaptable people with the desire to help our clients and one another succeed.

As a company, we were established by Chuck at over 40 years ago to champion Main Street over Wall Street, and to help Americans transform themselves from earners to owners. Through advocacy and innovation, we work to make investing more affordable, accessible and understandable for all. As we enter our fifth decade, we are looking for talented, innovative and driven people who believe they can help themselves, and our clients, create a better future.

Banking & Trust Services (BTS) is the business enterprise within Schwab overseeing Charles Schwab Bank and the Charles Schwab trust companies. The BTS organization offers deposit, loan and trust products to Schwab clients who are looking for holistic wealth management solutions that complement their brokerage activities. The integrated banking and brokerage services represent the strong value proposition we offer our clients.

Charles Schwab Bank is a full-service bank that offers a range of competitive deposit and lending products. In 2003, we launched Schwab Bank as a bank for investors, and it has grown to be the 12th largest bank in the United States. Our goal is to offer a banking experience that complements the Schwab brokerage capabilities, providing banking products tailored to meet our clients’ unique needs as investors, all in one convenient location. Consistent with the brand, we offer exceptional client experience.

Our Opportunity:

The Community Development Group of Charles Schwab Bank is seeking a Senior Manager, Community Development Investments. This position is responsible for working closely with the Director of Investments to implement the Bank’s Community Reinvestment Act (CRA) eligible investment products and programs by originating, underwriting and closing a variety of community development investments consisting primarily of Low Income Housing Tax Credits (LIHTC) and other structured investments. The Senior Manager will also assist in maintaining internal and external relationships with community development intermediaries; analyzing and approving changes to existing investments or consents for new underlying investments; and assisting with day-to-day oversight of the investment portfolio. This position is responsible for the credit quality of new CRA-eligible investments closed and for evaluating the credit risk, negotiating deal terms, obtaining credit approvals, and overseeing the closing process for proposed investments. The Senior Manager interacts and effectively communicates with clients, internal community development services team, portfolio manager, risk management partners, and other partners across the Bank and the firm, including business, finance, treasury, and accounting.

What you’ll do:

  • Works with the Director of Investments to source, review, analyze, underwrite, negotiate and manage through the closing process CRA-eligible investment opportunities in the Bank’s CRA Assessment Areas, with particular emphasis on proprietary and multi-investor fund LIHTC investments.

  • Maintains proficient knowledge of rules and regulations, including but not limited to, Section 42 of the Internal Revenue Code (IRC) and the CRA to determine which investments meet the program requirements and the Bank’s CRA goals.

  • Works with intermediary partners to structure deals and investment funds.

  • Assesses investment returns of potential investments and understands the associated underwriting risks.

  • Collects and analyzes project-level due diligence, including partnership agreements, appraisals, market studies, construction reports, financing, rental subsidy and regulatory agreements, environmental reports, investment committee packages and third-party reviews to verify timing, structure and transaction terms that are consistent with the Bank’s underwriting and approval guidelines and industry best practices.

  • Prepares underwriting memorandums, consent request approvals, annual reviews of intermediary partners, and recommendations for investment committee approvals.

  • Reviews and assists with the negotiation of partnership agreements and other partnership documents related to the closing of new investments.

  • Adheres to all community development loan and investment policies and procedures to ensure consistency with Bank processes, and recommends changes to policies and establishes procedures that affect organization's operation and credit policy.

  • Works with Treasury, Finance, Accounting and Risk partners of the Bank to ensure compliance with Bank policies relating to finance, accounting, credit, and risk management.

  • Maintains active relationships with Nevada and national for-profit and nonprofit business partners, including tax credit syndicators and other community development intermediaries; real estate developers; banks and other affordable housing lenders; and community-based organizations.

  • Assists in conducting annual reviews of intermediary partners including overall track record, operational strengths and weaknesses, portfolio performance and detailed financial analyses.

  • Keeps abreast of market changes and product offerings needed to remain current and competitive.

  • Responds to community development and CRA-related business issues as they arise.

What you have:

  • 5-8 years banking experience in multifamily and/or affordable housing, community development finance, or real estate finance

  • Demonstrated experience in originating, underwriting, negotiating, structuring and/or managing LIHTC investments for a syndicator, direct or fund investor or experience managing relationships with community development intermediaries; experience working with Nevada nonprofit or for-profit entities is a plus

  • Knowledge of the Community Reinvestment Act, Section 42 of the IRC, AHIC underwriting guidelines, business and tax issues related to LIHTC investments and multifamily property fundamentals

  • Background in transactional work, preferably both real estate debt and equity

  • Strong attention to detail, excellent analytical and quantitative skills, proficiency in Microsoft Excel and other Microsoft Office products

  • Familiarity with GAAP accounting and sponsor financial analysis

  • Strong analytical and deal execution skills with the ability to simultaneously manage multiple client relationships and transactions, including credit/financial/risk analysis, deal structuring, negotiation, due diligence, underwriting, obtaining internal approvals and coordinating transaction closings

  • Self-driven team player with ability to complete tasks under a deadline and take on a high level of responsibility, initiative, and accountability with little day-to-day supervision

  • Superior judgment and excellent oral and written communication skills to effectively interact with internal business leaders and Bank senior management and to work across organizational boundaries to build partnerships with other internal departments and with colleagues and clients outside the company

  • Bachelor’s degree or equivalent experience in real estate, business, finance, or accounting with advanced degree (MCRP, MPA, MPP, JD, MBA or equivalent) preferred

What you’ll get:

  • Comprehensive Compensation and Benefits package

  • Financial Health: 401k Match, Employee Stock Purchase Plan, Employee Discounts, Personalized advice, Brokerage discounts

  • Work/Life Balance: Sabbatical, Paid Parental Leave, New Mothers returning to work Program, Tuition Reimbursement Programs, Time off to volunteer, Employee Matching Gifts Program

  • Everyday Wellness: Health and Lifestyle Wellness Rewards, Onsite Fitness Classes, Healthy Food Choices, Wellness Champions

  • Inclusion: Employee Resource Groups, Commitment to diversity, Strategic partnerships

  • Not just a job, but a career, with an opportunity to do the best work of your life

Learn more about Life@Schwab at" .

Charles Schwab & Co., Inc. is an equal opportunity and affirmative action employer committed to diversifying its workforce. It is Schwab's policy to provide equal employment opportunities to all employees and applicants without regard to race, color, religion, sex (including pregnancy, childbirth, breastfeeding, or related medical conditions), gender identity or expression, national origin, ancestry, age, disability, legally protected medical condition, genetic information, marital status, sexual orientation, protected veteran status, military status, citizenship status or any other status that is protected by law. Schwab also does not discriminate against applicants or employees because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. At Schwab, we believe that every employee, through their diverse abilities and experiences, can contribute to our growth, innovation and client loyalty. We embrace diversity and are committed to providing equal opportunity to all employees and applicants. If you have a disability, and require reasonable accommodations in the application process, call Human Resources at 800-725-3535. We will be happy to assist you. Schwab will only share your accommodation request with those individuals who have a specific need to know. The request for an accommodation will not affect Schwab's hiring decisions. All other submissions should be performed online.

Job Specifications

Relocation Offered?: No

Work Schedule: Days

Languages: English - spoken

Current Licenses / Certifications: None

Relevant Work Experience: Accounting and Finance-6+ yrs, Banking-6+ yrs

Position Located In: NV - Henderson

Education: BA/BS

Job Type: Full Time


Activation Date: Monday, May 7, 2018

Expiration Date: Saturday, June 30, 2018

Apply Here