Tax Credit Relationship Manager

Background

Are we a bank? Absolutely. But when it comes to careers, you’ll find that there’s a lot more to our business than you might expect. We’re passionate about helping customers throughout Minnesota, Wisconsin and North Dakota succeed and grow. Our commitment to authentic and enduring relationships starts by taking  time to listen and learn about our customers’ goals, and innovate to solve their challenges, not only through financial resources but also deep knowledge, insights and ideas.

We expect, encourage and reward entrepreneurial thinking from our employees. We have a shared purpose of cultivating thriving communities, inspired by our founder, Otto Bremer, who spent his lifetime supporting the communities that his banks served in new and unexpected ways. That commitment to community and creative problem-solving contributes to Bremer’s culture.

If you want the next chapter in your story to be one where you make a real difference for our customers, communities and economies, we’re the bank to join. We foster diversity, equity and inclusion, building on the legacy of our immigrant founder. If you’re curious, enjoy collaborating, and start each day with the customer in mind, we invite you to join our team!

Our Values

Collaboration: We work elbow-to-elbow with our customers, making a difference for them in good times and bad. We share our skills, knowledge and experience to support each other every day.

Commitment: We’re deeply invested in the places we live and work, and we’re always ready to do whatever it takes to help our neighbors and communities thrive and grow.

Creativity: Imagination and innovation are essential to helping our customers and Bremer succeed. If there’s a better way to do something, we’ll find it or create it.

COMPANY BACKGROUND:
Bremer Financial Corporation is a privately held, regional financial services company with $16.2 billion in assets, jointly owned by the Otto Bremer Trust and Bremer employees. Founded in 1943 by Otto Bremer, the company is headquartered in St. Paul, Minnesota and provides a comprehensive range of banking, mortgage, investment, wealth management, and insurance products and services throughout Minnesota, North Dakota, and Wisconsin. Clients include small businesses, mid-sized corporations, agribusinesses, nonprofits, public and government entities, and individuals and families.

DEPARTMENT OVERVIEW:
The Capital Markets group’s objective is to enhance the value of traditional banking by supporting our commercial and ag clients with capital solutions, risk management, and trade finance products and services. Our work focuses on expanding relationships and managing risk by providing guidance, support, and efficient execution of capital markets solutions across Bremer’s footprint. We do this while continuing to focus on our customers’ objectives and needs first.

Summary

POSITION SUMMARY:
This position is responsible for originating and servicing tax credit financing and equity investments, including New Markets Tax Credits (NMTC), Low Income Housing Tax Credits (LIHTC), Historic Tax Credits (HTC) and Renewable Energy Tax Credits (ITC) and deployment of Bremer CDE’s New Markets Tax Credit allocations. The role is responsible for sourcing, due diligence, underwriting, approval, documentation, closing, and servicing tax credit equity investments to meet the bank’s investment objectives.

Responsibilities

KEY ACCOUNTABILITIES

The primary accountabilities for the role include:

• Develop and maintain project pipeline through cultivating relationships with tax credit consultants, Bremer Bank relationship managers, industry partners and community-based organizations.
• Assist and advise customers by educating them on the tax credit programs and process, responding to questions and requests, and following up with additional resources.
• Train and educate team members and relationship managers to develop skills in all aspects of Tax Credit Finance.
• Review and interpret third party due diligence reports, including intake forms, appraisals, market assessments, plan and cost reviews, and environmental reports to determine transaction viability and appropriate financing structure.
• Prepare underwriting memorandums and obtain approval from appropriate investment committee, CDE governing, and/or CDE advisory boards.
• Participate in the closing process, including reviewing and negotiation of transaction documents between multiple parties, including borrower, attorneys, consultants, and other transaction participants.
• Assure the Bank’s tax credit investments comply with federal and state statutes, regulations, and internal policies.
• Understand local market trends, opportunities and challenges and communicate that analysis to internal and external stakeholders.
• Collaborate with industry partners and internal staff who will assist with servicing transactions, monitoring borrower loan covenants and compliance with reporting requirements.
• Review and approve loan construction draw requests in collaboration with the construction loan administration group.
• Review and evaluate reports from borrowers to proactively identify potential areas of vulnerability and risks; develop and implement measures to address potential non-compliance and workout situations.
• Responsible for credit quality management.
• Work with the Marketing and Communications groups to implement NMTC communications, marketing materials, and initiatives.
• Assist in the preparation of the CDE’s NMTC Application for tax credit allocation.
• Work with senior management and department team to develop business strategy and accompanying policies and directives.
• Stay informed about industry best practices, market developments, and regulatory requirements related to tax credit programs.
• Adhere to all policies, procedures, and regulatory compliance requirements and perform other related duties and projects as assigned.
• Travel required up to 25% of the time.

Requirements

QUALIFICATIONS:
-Bachelor’s degree in real estate, finance, accounting, or related discipline with a minimum of 8 years’ experience in the field or in a related area.
-Evidence of significant business development and client services skills, with the ability to cultivate long term relationships and influence other internally and externally.
-Extensive knowledge of credit underwriting and lending practices.
-Knowledge of New Market, Low Income Housing, Historic and other tax credit programs. Strong NMTC knowledge preferred.
-Understanding of legal and financial documents related to lending and tax credit programs.
-Ability to provide creative and flexible solutions to potential customers by identifying relevant risks and mitigation factors.
-Outstanding analytical and organizational skills with a high degree of intellectual curiosity
-Capable of effective negotiation and support within a wide range of management levels
-Excellent written and oral communication and presentation skills.
-Must be able to work independently and can balance competing priorities, manage multiple projects and tight deadlines, and have the ability to maintain a strong attention to detail.
-Team player with ability to facilitate strong partnerships and effectively collaborate across teams.
-Proven leadership skills, with the ability to develop and mentor others.
-Advanced Excel, Word, Access, and PowerPoint skills.
-Dedication to fostering an inclusive culture and value diverse perspectives.

Compensation and Benefits

This is an exempt/competitive salaried position.

Our Benefits

At Bremer, we are committed to supporting and growing the communities we call home. Our people understand that they represent our name and reputation in every conversation, and that they’re backed by an organization that values finding a better way to get things done. Let’s talk about benefits. Not just the 401(k), pension plan, healthcare, and vacation kind (we’ve got those), but the kind of everyday benefits that get you excited for what each day holds.

How to Apply

Apply at https://careers.bremer.com  Job Code: 8065

Bremer Bank is committed to a diverse and inclusive workforce. We’ve built an organization of experienced, intelligent and collaborative people from a range of all backgrounds, and all of them contribute something essential to helping our customers thrive and grow.

All qualified applicants will receive consideration for employment without regard to sex, gender identity, sexual orientation, race, color, religion, national origin, disability, protected Veteran status, age, or any other characteristic protected by applicable law.

For your reference, here are additional details for your awareness:
Know Your Rights: Workplace Discrimination is Illegal (dol.gov)
Family and Medical Leave Act (dol.gov)
Employee Polygraph Protection Act rights (dol.gov)

Miscellaneous Items to Note

• Must be legally authorized to work in the U.S. without Bremer sponsorship for employment visa status (e.g., H1B status, 0-1, TN, EB-2)
• Notice to California Applicants – for your awareness, please see Bremer Bank California Notice at Collection and Privacy Policy
• Accessibility Commitment – Bremer is committed to accessibility, diversity and inclusion for all our applicants. We believe everyone should be able to have equal and effective access to our websites and our services. We have worked very hard to ensure that our website and digital content meet the needs of our applicants and visitors. Click here for more information on our accessibility and how to get in touch with us.
• Notice to Third Party Recruiters – Bremer Bank, National Association, including its affiliates, does not accept unsolicited resumes from recruiters or employment agencies. In the absence of a signed agreement for recruiting or placement services, Bremer will have no obligation and will not agree to pay any referral or recruiting fee. In the event a recruiter or agency submits a candidate for consideration, Bremer explicitly reserves the right to pursue and/or hire any such candidate(s) without any financial or other obligation to the recruiter or agency. Any unsolicited resumes, including those submitted to hiring managers, will be deemed to be the property of Bremer.