At U.S. Bank, we're passionate about helping customers and the communities where we live and work. The fifth-largest bank in the United States, we're one of the country's most respected, innovative and successful financial institutions. U.S. Bank is an equal opportunity employer committed to creating a diverse workforce. We consider all qualified applicants without regard to race, religion, color, sex, national origin, age, sexual orientation, gender identity, disability or veteran status, among other factors.Job Description
The Syndications Business Development Officer (BDO) for Low-Income Housing Tax Credits (LIHTCs) will be responsible for sourcing investors to buy LIHTCs from USBCDC. The Syndications BDO will identify LIHTC Investors, establish a relationship with LIHTC investors, and secure commitments from LIHTC investors. The BDO will work closely with US Bank Lines of Business to identify and establish relationships with potential LIHTC investors. A critical measurement of the success of the role will be meeting the LIHTC Syndication volume and revenue goals of US Bank plan. The BDO will need to find innovative ways to develop customer distribution channels and broaden the current investor base. The BDO is the leader of the Syndications effort in securing LIHTC investor commitments and will guide the LIHTC BDAs in meeting USBCDC goals. This role requires strong understanding of the LIHTC program, excellent customer relationships skills, great collaboration with the LIHTC origination team, and excellent communication skills to gain the commitments of Fortune 500 companies and large financial institutions.
Summary of Essential Job Functions
A successful candidate for the Syndications LIHTC Business Development Officer position will demonstrate the ability or potential to:
• Generate commitments to buy LIHTCs from very sophisticated investors
• Structure syndications transactions in a manner that is both marketable to investors and compliant with all tax, legal, and regulatory considerations
• Communicate the terms of a LIHTC syndication with investors including structure, financial returns, investor risks, and mitigants.
• Manage external relationships with investors to ensure we are providing exceptional customer service throughout the life of the deal while also representing USBCDC's best interests
• Develop new distribution channels to grow LIHTC investor base
• Develop strong relationships with US Bank relationship managers to generate LIHTC prospects
• Collaborate effectively with LIHTC Productions, Asset Management and other teams throughout the CDC
• Lead and assist with efforts in exploring new Syndications platforms, products, and revenue opportunities.
• Extensive travel to meet with Investors in person and attend investor conferences.
- Bachelors degree, or equivalent work experience
- Five to ten years of tax credit industry experience
- Ten or more years of experience in financial services and/or real estate activities
- MBA, CPA, JD, CFA or candidate for CFA, or comparable work experience
- Excellent communication, customer relationship, and collaboration skills
- Proficiency understanding and communicating financial models based on IRR and XIRR
- Self-starter and able to work in environment with minimal direction
- Strong understanding of real estate and/or LIHTC transactions
- Advanced knowledge of, and ability to communicate effectively on, the relevant Tax Credit Program, commercial real estate finance, tax and accounting concepts, or partnership law
- Strong relationship management, business development and sales skills
U.S. Bancorp Community Development Corporation, the tax credit and community development division of U.S. Bank, believes all people have a right to the possibilities that come with living in a safe and vibrant community. Our investments in affordable housing, economic development and renewable energy projects have a lasting social and environmental impact in communities. Visit www.usbank.com/cdc to learn more.
Our teams put equity at the center of our intentions, operations and actions. Diverse identities, backgrounds, and perspectives help to create a better workplace for everyone, should be appreciated, and should be intentionally sought out. All our employees should have access to opportunities for growth and development throughout their careers. By putting equity at the center, our organization will retain great employees who know they will be able to make meaningful contributions and to do their best work here.
Take care of yourself and your family with U.S. Bank employee benefits. We know that healthy employees are happy employees, and we believe that work/life balance should be easy to achieve. That's why we share the cost of benefits and offer a variety of programs, resources and support you need to bring your full self to work and stay present and committed to the people who matter most - your family.
Learn all about U.S. Bank employee benefits, including tuition reimbursement, retirement plans and more, by visiting usbank.com/careers.
EEO is the Law
Applicants can learn more about the company's status as an equal opportunity employer by viewing the federal EEO is the Law poster.
U.S. Bank participates in the U.S. Department of Homeland Security E-Verify program in all facilities located in the United States and certain U.S. territories. The E-Verify program is an Internet-based employment eligibility verification system operated by the U.S. Citizenship and Immigration Services. Learn more about the E-Verify program.Salary range reflected is an estimate of base pay and is for the primary location. Base pay range may vary if an offer is made for work in a different location. Pay Range: $111,690.00 - $131,400.00 - $144,540.00
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