Director of Access to Capital – Affordable Housing

U.S. Bank • St. Louis, MO

20h

About The Position

At U.S. Bank, we’re on a journey to do our best. Helping the customers and businesses we serve to make better and smarter financial decisions and enabling the communities we support to grow and succeed. We believe it takes all of us to bring our shared ambition to life, and each person is unique in their potential. A career with U.S. Bank gives you a wide, ever-growing range of opportunities to discover what makes you thrive at every stage of your career. Try new things, learn new skills and discover what you excel at—all from Day One. Job Description The Business Impact Group (“BIG”) was formed to assist Impact Finance Group address the U.S. Bank’s commitment to close the wealth gap through its signature Access Commitment Initiative. The intended goal is to increase the volume of lending and tax credit equity investing with emerging entities by raising the profile of the U.S. Bank in low-income and underserved communities, establishing partnerships, products and programs to support emerging developers. BIG collaborates with Impact Finance product areas to identify market gaps that need to be addressed to increase the capacity of emerging entities which will lead to new business development opportunities in the medium and long term. Reporting to the Head of Access to Capital, the Access to Capital Director (“ACD”) will be responsible for enabling the execution of Impact Finance’s strategic priorities related to increasing access to capital (debt and tax credit equity). The ACD will be knowledgeable of players in the affordable housing ecosystem, emerging industry developments and challenges to consistently meet the needs of clients. The ACD will draw on their extensive knowledge of affordable housing financial tools and structures to introduce new capital courses, propose new lending products, capacity-building programs and initiatives in collaboration with senior management, the Affordable Housing, Syndications and Enabling Functions Teams. We are looking for candidates with a commitment to the work we do and can demonstrate their creativity, diligence, enthusiasm, growth-mindset, thoughtfulness, and passion to make meaningful change in the areas of economic justice.

Requirements

• Bachelor’s degree
• 7+ years of experience specifically in underwriting affordable housing loans and equity investments or affordable housing development experience
• Strong knowledge of complex affordable housing financing structures, including LIHTC program rules, and familiarity with Federal and local financing sources such as HOME, CDBG, TIF
• Commitment to community development and equity as identified in prior work and experience
• Strong communication skills demonstrating attention to detail and professional writing style
• Strong organizational skills including ability to follow through independently
• Capacity to prioritize multiple tasks to meet deadlines
• Ability to travel up to 40%

Responsibilities

• Line of Business Engagement (40%): Complements business development efforts of the Affordable Housing Emerging Markets Manager and business development team to identify market gaps and new developments and devise strategy to address these needs to lead to increase the number of emerging developers that receive funding and technical assistance that lead to increased capacity to complete affordable housing developments.
• Affordable Housing Access to Capital(A2C) meetings: Plan and lead regular A2C meetings with internal stakeholders to achieve our agreed upon joint priorities and performance measures;
• Program Development (40%): Research, design, implement and manage programs to address identified market gaps based on the collaboration with Affordable Housing Emerging Markets Manager. Identify industry partnerships that provide access to capital and technical assistance for emerging developers. Collaborate with Syndications Team to identify social impact investors to meet Impact Finance’s goal to originate deals that can be syndicated. Identify conference and other market activation sponsorship opportunities that provide for brand recognition, market intelligence and access to emerging developers.
• Researching and identifying (10%) needs of product area, gaps in the marketplace that will lead to pipeline opportunities for Affordable Housing product area as well as improved capacity of developers of color and their readiness for bank lending and equity products.
• Reporting and Measurement (10%): Provide affordable housing A2C metrics needed to reflect performance towards Impact Finance financial goals as well as enterprise initiatives such as Access Commitment, Community Benefits Plan and CRA. Will coordinate with Impact Measurement and Management team and Finance teams to generate reports submitted to senior management and to enterprise enabling functions. Role will involve attending and reporting out results at working group or other touchpoints on a regular basis. Will collaborate with Emerging Markets Manager and Impact Measurement team to establish key performance indicators (KPIs) to measure the impact of these programs.

Benefits

• Healthcare (medical, dental, vision)
• Basic term and optional term life insurance
• Short-term and long-term disability
• Pregnancy disability and parental leave
• 401(k) and employer-funded retirement plan
• Paid vacation (from two to five weeks depending on salary grade and tenure)
• Up to 11 paid holiday opportunities
• Adoption assistance
• Sick and Safe Leave accruals of one hour for every 30 worked, up to 80 hours per calendar year unless otherwise provided by law

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level