About the Job
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. In addition, the CDLI team can help clients assemble innovative and complex financing in partnership with multiple for-profit, non-profit and government entities. 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 to help local affordable housing and economic development projects succeed.
This is a great opportunity for an experienced Portfolio Manager 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 with the Origination Team to assure continued Outstanding CRA ratings and collaborate with equity team and Corporate Responsibility Officers to ensure an Outstanding CRA rating in the respective Region.
The Portfolio Manager (PM) provides relationship management support for a clients and prospects primarily in an assigned Region. The PM will be responsible for underwriting, structuring and servicing these real estate loans which help further the mission of Community Development Banking. The PM will work in strong partnership with Relationship Managers to provide comprehensive financial advice and 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 origination and portfolio management activities including the preparation of loan presentation documents and asset quality reports, credit monitoring, 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 construction, bridge, interim and other business loans 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 (assess the materiality of risks and appropriately mitigate/match with transaction return expectations).
Proactively manages the portfolio to both ensure strong asset quality and maximize profitability through consistent and timely identification and resolution of issues as well as accurate assessment and assignment of loan risk ratings. Assists in resolving out-of-balance and/or other default situations which may occur in the portfolio.
Coordinates and completes annual reviews, loan renewals, quarterly portfolio reviews, 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. Works with Portfolio Monitoring department to facilitate completion of annual reviews and property inspections, monitoring of covenant compliance and other items to secure the Bank’s position and avoid potential losses.
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. Participates in call preparation.
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. Shares constructive and regular feedback with teammates and stakeholders.
Partners effectively with Credit, KCDC, Product Partners, Closers, 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.
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 MS Office suite, spreadsheets, Internet applications, and common business software