Location:
127 Public Square - Cleveland, Ohio 44114
SVP of Business Development
About the Job
The SVP of Business Development is responsible for raising capital for KeyBank’s equity syndication efforts; including but not limited to low-income housing federal tax credits, state credits, renewable credits and developing other opportunities for investors. The position is critical to KeyBank’s equity growth initiative, as we continue to expand our investing as a leader in affordable housing.
Essential Job Functions
• Responsible for raising capital to secure investment clients that will invest in affordable housing projects with KeyBank’s development partners/clients
• Initiate contact with potential investors, obtaining initial agreements to invest in specific projects
• Establishing and enhancing relationships with investors, develop plans with investors to identify investment opportunities
• Collaborate with Fund Management and Originations to create unique opportunities and fill investor demand
• Work closely within Community Development Lending and Investing to maximize our debt opportunities, while creating strategic partnerships with investors
• Participate in the evaluation, structure and negotiation of terms for new tax credit acquisitions, based on investor/market terms
• In conjunction with the Syndications and Originations team, evaluating potential project bids and resolving significant business points in connection with the syndication of deals, sitting on the initial transaction approval team
• Source capital and implement multi-investor and proprietary tax credit investment fund strategy
• Develop marketing plans for investors to be used as a guide in marketing toward existing and prospective clients
• Present as a leader in the industry, including sitting on panels, collaborating internally on marketing operations
• In all actions, fostering a culture of enterprise-wide mindset; internally and with clients
• Develop and implement policies and procedures related to the origination and syndication of tax credit funds
• Manage annual sponsor review process and implementation, updating pitchbooks quarterly, working to ensure materials for investors are professional, “investor ready” and readily available
Travel required at least 50% of the time.
Required Qualifications
Bachelor’s degree in a relevant area of study such as business, real estate, city & regional planning, urban planning, or finance
10+ years’ experience with low-income housing tax credit projects and investment funds, including a minimum of five years prior experience originating low-income housing tax credit capital
Detailed understanding of the financial structure of tax credit transactions, including equity and debt (hard and soft sources), tax credit regulations impacting financial structures, regulations and practices regarding the qualification and delivery of tax credits
Ability to articulate development and tax credit issues and provide solutions in structuring of tax credit transactions
Excellent relationship management and business development skills.
Team player and adapts to change easily
Proficient in negotiating transactions, building and managing strong client relationships and building consensus around proposals and recommendations, both internally and with clients
Ability to be creative and think beyond the obvious solutions for financial investment strategies
Strong verbal and written communication skills
Experience in establishing and maintaining effective working relationships with third party professionals
Proficient in Microsoft Office Suite programs and in particular Word, Excel and Teams
COMPENSATION AND BENEFITS
This position is eligible to earn a base salary in the range of $175,000to $300,000 annually depending on location and job-related factors such as level of experience. Compensation for this role also includeseligibility forshort-term incentive compensation and deferred incentive compensation subject to individual and company performance.
Please click here for a list of benefits for which this position is eligible.
Job Posting Expiration Date: 11/15/2024
KeyCorp is an Equal Opportunity and Affirmative Action Employer committed to building a diverse, equitable and inclusive culture. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status or other protected category.
Qualified individuals with disabilities or disabled veterans who are unable or limited in their ability to apply on this site may request reasonable accommodations by emailing HR_Compliance@keybank.com.
