Associate, Tax Credit Operations (New Market Tax Credit) at Capital One

Charlotte, North Carolina, United States

Capital One Logo
Not SpecifiedCompensation
Junior (1 to 2 years)Experience Level
Full TimeJob Type
UnknownVisa
Financial Services, Banking, Commercial BankingIndustries

Requirements

  • Must be within 50 miles driving distance from one of Capital One hubs in Charlotte, NC, Plano, TX, or Richmond, VA
  • Secure home office environment free from background noise and distractions
  • Reliable private internet connection (not cellular data or hotspot), provided by cable or fiber ISP
  • Private, password-protected network with ownership or line of sight to every device
  • ISP download speeds on VPN of at least 5Mbps (10+ Mbps preferred)
  • Delivers quality work and process efficiencies consistently
  • Ability to prioritize workflow and manage multiple assignments or deliverables
  • Ability to operate and excel in a team environment while maintaining professionalism and respect
  • On-time and accurate execution of workflow
  • Comfortable organizing, preparing, and executing ad-hoc presentations for team members and stakeholders
  • Motivated to learn complexities of Tax Credit products and demonstrate understanding to team and partners
  • Excellent communication and interpersonal skills for interacting with internal and external stakeholders
  • Strong analytical thinking, problem-solving skills, and attention to detail
  • Tech Fluency: Desire to understand top-level technology trends and possibilities
  • Design Mindset: Challenges assumptions and constraints in processes
  • Workload Management: Gathers information from broad sources for efficient decisions
  • Adaptive Thinking: Considers different viewpoints conflicting with natural bias

Responsibilities

  • Manage a portfolio of active credit facilities and equity investments for New Markets Tax Credit
  • Process loan and equity requests (draw downs, pay downs, interest payments); interest and exchange rate fixing, manual interest and fee calculations, billing, and liquidations
  • Work closely with respective business units and other internal partners to align needs and provide support
  • Perform manual loan tracking enhancements, cash breaks analysis, reconciliations of interest fees and letters of credit, and comprehensive testing of system enhancements
  • Review and extract from legal documents for compliance, interpretation, and operational viability
  • Develop, design, and implement inter-departmental controls and risk-reducing processes
  • Serve as liaison for borrowers, lenders, and investors by responding to, resolving, and expediting inquiries, discrepancies, and special requests
  • Establish and maintain customer satisfaction through positive and constructive client relations

Skills

Key technologies and capabilities for this role

Tax Credit OperationsNew Markets Tax CreditLoan ProcessingEquity InvestmentsAccount ReconciliationCash Breaks AnalysisInterest CalculationsLegal Document ReviewRisk ManagementProcess ImprovementClient Relations

Questions & Answers

Common questions about this position

Is this a remote position, and what are the location requirements?

This is a virtual role allowing you to work from home, but you must be within 50 miles driving distance from one of Capital One's hubs in Charlotte, NC, Plano, TX, or Richmond, VA.

What are the key responsibilities in this Tax Credit Operations role?

Responsibilities include managing a portfolio of active credit facilities and equity investments for New Markets Tax Credit, processing loan and equity requests, performing reconciliations and cash breaks analysis, reviewing legal documents, and serving as a liaison for borrowers, lenders, and investors.

What skills and qualities are expected for this associate role?

Expected skills include strong analytical thinking, problem-solving, attention to detail, excellent communication and interpersonal skills, ability to prioritize workflow and manage multiple assignments, and tech fluency with a desire to understand technology trends.

What is the company culture like for this team at Capital One?

The role emphasizes operating and excelling in a team environment while maintaining professionalism and respect for team members and Capital One associates, with a focus on positive client relations and collaboration with internal partners.

What makes a strong candidate for this Tax Credit Operations associate position?

A strong candidate is highly motivated to learn Tax Credit products, demonstrates understanding of supported products and processes, possesses excellent communication skills for interacting with stakeholders, and shows tech fluency and analytical problem-solving abilities.

Capital One

Offers diverse financial products and services

About Capital One

Capital One provides a variety of financial services aimed at making banking accessible and easy for everyone. The company offers products such as credit cards, savings accounts, car loans, and business checking accounts, catering to both individual consumers and small businesses primarily in the United States. Capital One's approach includes user-friendly banking solutions with no fees or minimums for checking accounts, allowing customers to manage their finances more effectively. They generate revenue through interest on loans, credit card fees, and investment banking services. What sets Capital One apart from its competitors is its strong commitment to financial inclusion and literacy, demonstrated through community partnerships and educational initiatives, such as collaborations with Khan Academy. The company's goal is to create a more inclusive financial system and empower customers with the knowledge and tools they need to make informed financial decisions.

McLean, VirginiaHeadquarters
2014Year Founded
$15.9MTotal Funding
IPOCompany Stage
Fintech, Financial ServicesIndustries
10,001+Employees

Benefits

Medical, Dental, & Vision coverage
Onsite Health Centers
Prescription saving with network of local pharmacies
Stock Purchase Plan
Education Assistance
401(k)
Flexible Spending Accounts
Life and Disability insurance
Generous paid time off + corporate & floating holidays
Registered dieticians on site, cooking classes and free virtual fitness classes
Employee Assistance Program

Risks

Increased competition in subscription management tools may dilute Capital One's advantage.
Over-reliance on partnerships could expose Capital One to technological risks.
Departure of key personnel like Joe Rodriguez may affect risk management continuity.

Differentiation

Capital One offers user-friendly banking with no fees or minimums for checking accounts.
The company partners with Khan Academy to provide financial literacy education.
Capital One is the first major U.S. bank to offer subscription management tools.

Upsides

Capital One's mobile app is a model for secure, user-friendly digital banking.
Data sharing with Worldpay enhances payment security and fraud prevention.
Partnerships with fintechs like Minna Technologies improve customer experience.

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