Community Investment Manager

Community Investment Manager

Website Federal Home Loan Bank of Boston

The Federal Home Loan Bank of Boston is a leading provider of wholesale funding for housing and community finance in New England serving more than 420 financial institutions across the region. The Federal Home Loan Bank of Boston is committed to making New England a better place to live and do business, and our employees are integral to our success. As a cooperative, we are owned by more than 420 banks, credit unions, insurance companies, and community development financial institutions that access tens of billions of dollars of our reliable, wholesale funding each year. Our funds are a vital resource that helps our members succeed, provide families with safe, decent affordable housing, and generate economic development that creates jobs in communities throughout our region.

Our highly skilled team of 200 is diverse, innovative, collaborative, and passionate about the work we do. We seek other professionals excited to share their knowledge, talent, and passion for our mission to join our team. We offer opportunities for career development, robust benefits, and a work-life balance.

Position Summary

One of four Community Investment Managers at the Bank, this position has primary responsibility for management of a portfolio of FHLBank Boston’s targeted housing and community investment programs, with responsibilities in the Affordable Housing Program (AHP). Responsibilities include conducting outreach, education, technical assistance, and training on the housing and community investment programs for an assigned geographic territory and group of member financial institutions and organizations. 

The incumbent will have primary responsibility for providing technical assistance and training to members and others on the use of FHLBank Boston’s targeted housing and community investment programs in her/his designated area.  S/he will manage their respective portfolio of members and AHP funded projects consistent with department regulatory and internal policies and procedures.  This position also has management responsibility for the approval of funding and compliance monitoring of the use of such funds. S/he will work closely with the Housing and Community Investment (HCI) department and Member Services staff, primarily the Bank’s Relationship Manager(s) serving members in that designated area. 

This is a highly responsible position. The incumbent will frequently serve as the Bank’s representative to the senior management of member financial institutions and to officers of local, state, and regional development organizations, governmental agencies and other organizations on matters relating to the use of the Bank’s housing and community investment resources.

This role requires travel of about 20 – 25% of the time throughout New England.  Most travel will be completed within a day, with occasional overnight stays required. Business travel is a primary conduit for outreach, technical assistance and monitoring of funded projects.

A valid driver’s license is required for this role.   Consistent access to a vehicle is required to fulfill the requirements of this role.

This role will have a hybrid work schedule in our Boston office in accordance with the Bank’s Hybrid Work Program. Incumbent must be flexible with schedule to respond to operational events that may interrupt or be outside of normal business hours.

Specific Responsibilities


Relationship Management, Technical Assistance, Training and Outreach –

·         Establish and maintain the Bank’s relationships with member financial institutions, housing sponsors, and other organizations for the purpose of supporting and facilitating the development of affordable housing and community economic initiatives within her/his respective geographic area.

·         Provide technical assistance and training to members, housing sponsors, Bank staff, and other organizations on the features and use of the Bank’s targeted housing and community investment programs.

·         Conduct outreach to members, housing sponsors, and other organizations through a range of forums and events, training sessions and webinars, individual technical assistance, and other avenues as needed. Outreach will also be achieved through writing and producing articles in Bank and other publications/website on the Bank’s targeted housing and community investment programs and related topics as needed.

·         Work collaboratively with Bank staff, primarily HCI and Member Services including the Relationship Manager for the designated area.

·         Undertake special projects as needed, including serving as the departmental lead on major topics of interest, such as researching a new initiative, creating presentations, or planning an event or conference.


Project Portfolio Management and Program Monitoring —

·         Manage and monitor portfolio of approved AHP projects located within her/his geographic area. The incumbent may also be required to assist with other programs from time-to time, including the Equity Builder Program (EBP), Housing Our Workforce, (HOW), Lift Up Homeownership (LUH), Jobs for New England (JNE), Community Development Advance (CDA), New England Fund (NEF), or other programs/activities, as needed.

·         Includes maintenance of a tickler system for tracking reporting requirements and program activities.

·         Prepare disbursement requests and modifications to AHP Projects.

·         Conduct Closeout Monitoring reviews to determine compliance.

·         Manage his/her projects on the department’s AHP Watch List of troubled projects and coordinate with the Manager, AVP, and VP on curing and resolving noncompliance issues.

·         Review and complete monitoring reports including semiannual project progress reports, Watch List reports, annual compliance certifications, periodic monitoring reports, and other reports as needed.


Internal Processes and Administration –

·         Review and assist with departmental strategic planning activities such as the AHP Implementation Plan and Targeted Community Lending Plan. 

·         Participate in developing process enhancements to improve operational efficiency, including but not limited to review and development of the AHP Feasibility guidelines, departmental policies and procedures, desktop procedures, and other forms and system enhancements.


Community Development Advance and NEF Program Responsibilities —

·         Review and recommend applications for projects in the CDA, NEF, and other programs as needed to facilitate workflow and approval.

·         Other duties as assigned.



·         Minimum of 5 years’ experience working in the development or management of residential, multifamily housing or commercial property, in lending and/or housing and community development, or in a comparable combination of specific educational achievements and work experiences are required.

·         Up-to-date utilization of computers, databases, spreadsheets, and word processing is required.


·         Demonstrated understanding of local, state, and federal housing and community development programs and knowledge of Community Reinvestment Act regulations.

·         Experience in commercial real estate, multifamily underwriting, and/or real estate development, primarily residential properties.

·         Effective communication and representation of the Bank to a variety of audiences both in writing and orally, including public speaking.

·         Applicants must demonstrate the ability to work independently and as part of a team.

·         Ability to prioritize and manage multiple responsibilities.

·         Demonstrated analytical and problem-solving skills.


·         A degree is required, with a preference in business administration, economics, planning, or housing/community development, or relevant work experience.


The Federal Home Loan Bank of Boston is committed to building and sustaining a diverse workforce that reflects the communities that we serve. As an Equal Opportunity Employer, we strongly encourage applicants from every ethnicity, color, religion, gender, age, national origin, disability, veteran or parental status and sexual orientation.

Nothing in this job description restricts management’s right to assign or reassign duties and responsibilities to this job at any time.

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