Senior Portfolio Manager - Community Development LendinginWashington, DCatKey Bank- Corporate
Date Posted: 9/30/2019
- Employee Type: Full-Time
- Location: Washington, DC
- Job Type: Banking
- Experience: Not Specified
- Date Posted: 9/30/2019
Headquartered in Cleveland, Ohio, KeyCorp (Key) is one of the nation s largest financial services companies. Key provides investment management, retail and commercial banking, consumer finance and investment banking products to individuals and companies throughout the United States and, for certain businesses, internationally.
Our goal is to be the best regional bank in the U.S. What that means is we put our clients needs first and take a customized approach to meeting those needs. At Key we ve made a promise to our clients that they will always have a champion in us. To deliver on that promise, we re committed to building a team of engaged employees who do the right thing for our clients and help them achieve their financial goals each and every day.
KeyBank is committed to growing the Community Development Lending & Investment group ("CDLI ). CDLI s mission is to help clients and communities thrive. CDLI provides capital solutions for affordable housing and community development projects in urban and rural communities. As one of the nation s premier affordable housing capital providers, CDLI offers one-stop-shop debt and equity/investment capabilities that bring together balance sheet, equity/investment and permanent loan offerings. Non-profit and for-profit affordable housing owner-operators and developers seeking to build, acquire and preserve affordable housing can leverage CDLI s broad, fully integrated platform, including solutions such as: construction; acquisition; bridge-to-re-syndication and preservation loans; lines of credit; various permanent loan executions including Fannie Mae, Freddie Mac, FHA/HUD and bond; and equity investments for low-income housing projects, especially Low Income Housing Tax Credit (LIHTC) financing. With a national presence and an experienced team of more than 50 professionals serving clients coast to coast, CDLI delivers deep product and solution expertise.
This is a great opportunity for an experienced Portfolio Manager ("PM ) who is proactive, possesses a strong initiative and works well independently to drive construction and permanent debt underwriting with a primary focus on Low Income Housing Tax Credit ("LIHTC ) construction loans. He/She will support the Origination Team who is responsible for profitable revenue, deposit gathering, fee income thru focused, mission based tax credit lending. The Portfolio Manager will work to assure continued Outstanding CRA ratings and collaborate with equity team and Corporate Responsibility Officer to ensure an Outstanding CRA region in territory.
The PM provides relationship management support for clients and prospects primarily in an assigned Region. The PM will be responsible for underwriting, structuring/servicing these real estate loans. The PM works in strong partnership with Relationship Managers to provide comprehensive financial advice/solutions that enable the clients to meet their financial objectives and utilize the full breadth of Key s product platform. The PM will help drive the financial performance of the team s risk management and revenue goals through portfolio management activities including credit monitoring, the preparation of asset quality reports and loan presentation documents, review of technical reports including appraisals and environmentals and all third-party equity commitments, loan documentation and support ongoing business development and lending/sales support.
ESSENTIAL JOB FUNCTIONS
Delivers timely and accurate completion of write-ups, loan recommendations and structuring, analysis of business and personal financial statements, identification of transaction strengths and weaknesses.
Analyzes and underwrites financing proposals to the requirements as set forth by KeyCorp Credit Policy.
Assists and supports in structuring and facilitating credit and non-credit product delivery while demonstrating sound risk management and maximizing risk adjusted returns on shareholder capital
Proactively manages the portfolio to both ensure strong asset quality and maximize profitability through consistent and timely identification and resolution of issues,accurate assessment and assignment of loan risk ratings. Coordinates and completes annual reviews, loan renewals, quarterly portfolio reviews, property inspections, review of covenant compliance, and asset quality reports on a timely basis. Monitors assigned portfolio for adherence to approved loan requirements and manage past dues, requirement ticklers, portfolio follow-up, credit files, etc.
Position requires basic understanding of affordable housing finance, commercial real estate - especially multifamily housing, and knowledge of familiarity with non-profit community and economic development organizations.
Actively supports Key s asset generation strategy which balances risk and return. Supports the team s consultative process to deepen existing relationships, on-board new relationships and exit unprofitable relationships..
Serves as the trusted advisor to clients and prospects. Establishes strong credibility with internal and external stakeholders (clients, colleagues, credit, and servicing) based on sound judgment and accurate and timely information sharing. Partners effectively with Credit, KCDC, Product Partners, Closers, Construction Monitoring/Servicing, Technical Services, and other partners to identify cross-sell opportunities and deepen client relationships as well as solve internal obstacles and deliver a seamless execution.
Identifies opportunities to provide the client with knowledge and access to the breadth of Key s product platform which includes: interim and permanent credit facilities, cash management, interest rate management, syndications, private equity, subordinated debt, deposits, leasing, private banking, equipment finance, etc.
Participates in community and professional organizations which enhance our expertise and profile.
Provides guidance and training to junior portfolio managers and management associates on underwriting, adherence to lending policy and pipeline management. Completes/participates in special projects as assigned.
- Knowledge and experience in Affordable Housing Industry
- Multifamily construction lending with Low Income Housing Tax Credit underwriting experience
- Bachelor s Degree in finance, real estate, accounting or related field.
- At least 5 years of commercial real estate underwriting and/or lending experience
- Solid understanding of commercial real estate especially multifamily housing
- Demonstrated ability to communicate effectively in both written and verbal communications
- Strong proficiency in applicable software
Masters of Business Administration
Permanent lending with Low Income Housing Tax Credit underwriting experience
Broad knowledge of key product areas, such as interim and permanent credit facilities, construction loans, bridge loans, private placement permanent loans, cash management, interest rate management, syndications, private equity, subordinated debt, private banking, , etc.
Experience in credit and/or workout teams
FLSA STATUS: Exempt
KeyCorp is an Equal Opportunity and Affirmative Action Employer committed to engaging a diverse workforce and sustaining an inclusive culture. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or veteran status.