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Director, Venture Banking - Healthcare

Company

Live Oak Bank
Address , Remote
Employment type FULL_TIME
Salary
Expires 2023-10-18
Posted at 9 months ago
Job Description
About Us
Live Oak Bank is a digital bank that serves small business owners across the country. Our groundbreaking spin on service and technology has fueled our mission to be America’s Small Business Bank. Our products help customers buy, build, and expand their business, and our high-yield savings and CD products help them grow their hard-earned money. At Live Oak, we never lose sight of the well-being of our people. We believe our employees are the heart of our company. Our commitment to our customers and culture is intertwined, and we seek those who embody and embrace what it takes to empower the American dream.
How This Role impacts Live Oak and its People
This role will enable the success of the Venture Banking team by sourcing new client opportunities for VC backed Healthcare companies, winning those opportunities, onboarding new relationships, and leading relationships post loan closing/onboarding. They will partner with Venture Banking Officers (“VBO”), Portfolio Managers (“PM”) and Portfolio Analysts (“PA”) to underwrite new credits. As the relationship manager for clients, the Director (with the mentorship and support of the Head of Venture Banking and/or a Managing Director) handles the client relationship from start to finish. They will use their Healthcare domain expertise to lead key VC relationships and will nurture strong relationships with referral sources in various markets. They will also work with other LOB groups to ensure client relationships are appropriately onboarded and serviced over the life of the loan. There may be an opportunity to lead a team of other VB professionals and/or serve as head of a “deal team” for a specific opportunity.


What You’ll Do at Live Oak
  • Present and negotiate term sheets with prospects; Compete to win the opportunity.
  • Lead and cultivate key VC relationships in the market, either as primary owner or in partnership with Managing Directors and Head of VB.
  • Ultimately, the Director should seek to be a sought-after partner by VC firms and their portfolio companies in a manner that is consistent with LOB’s values and enhances the overall success of the VB group.
  • Oversee the underwriting process and take ownership of the final product that goes to credit.
  • Source and evaluate new loan opportunities.
  • Partner with Managing Directors and the Head of Venture Banking as part of a “deal team” when needed for opportunities/ relationships that are high priority and resource intensive.
  • Address strategic projects as needed for the benefit of the team.
  • Run the client relationship post-closing and across its LOB life cycle.
  • Lead the final credit and loan document negotiation processes appropriately by working with other LOB teammates and outside counsel.
  • Once applicable and available, identify “non lending” relationship opportunities using the Bank’s deposit and treasury management platform. Cross-sell products to existing customers.
How You’ll Do It
  • Loan Closing – Assist and advise PAs on final credit approval package and present to credit in accordance with bank policies and procedures. Take ownership of the loan documentation process by working with outside counsel to issue, negotiate, and finalize loan docs. Work in consultation with Borrower to achieve optimal outcomes for all parties while maintaining a focus on soundness and security for LOB. Once documents are in execution phase, be available as a resource to Closer and PA during closing and onboarding process.
  • Be a strong teammate and enable the VB team’s long-term success.
  • Identify new ways (credit or otherwise) to meet client needs and expand relationship.
  • Never hesitate to ask questions or seek guidance, primarily from Head of VB and SCO but from other parties as well.
  • Take ownership of any issues, especially as related to company performance and compliance. When necessary and applicable, work with Credit and SAG to handle troubled credits.
  • Serve as a mentor and teacher to VBOs, PMs, PAs as they develop their skills.
  • Relationship Management – be responsible for the client relationship across the life cycle. Serve as primary contact for company post-closing. Collaborate with PMs and PAs as needed for regular portfolio management. Conduct client update calls and investor calls as needed.
  • Use domain expertise to work on strategic projects as needed to benefit the VB team and Bank as a whole.
  • Deal Sourcing – Call on VC firms and their portfolio companies directly. Nurture long term, mutually beneficial relationships with VC firms and other referral sources. Attend conferences and other networking events. Travel as needed to expand LOB brand and source new opportunities. Stay ahead of economic conditions and VC market trends. Work with team to develop broader marketing and networking efforts.
  • Term sheet Issuance and Negotiations – Take ownership of the relationship and negotiation process. Work directly with VBOs, PMs, and PAs to advise on underwriting, lead diligence calls, and take responsibility for the “final product” that goes to credit. Issue and negotiate term sheets with prospects with objective of winning the opportunity. Communicate clearly as process evolves and ask for guidance or assistance as needed.
  • Treat every client like the only client.
Required and Preferred Experience
  • Excellent customer service and interpersonal skills
  • Strong computer skills, to include Word and Excel.
  • High degree of self-motivation, dedication, creativity, and perseverance; Flexibility with time and willingness to accept a fast paced (and personally satisfying) position
  • A minimum of 5 years Venture Banking/ VC industry specific experience is preferred with at least two of those focused in the Healthcare industry.
  • Strong financial analysis and modeling skills.
  • Bachelor’s degree or 7+ years equivalent experience preferred.
  • Sound judgment
  • In-depth knowledge of Bank lending policies, procedures, and criteria
  • Additional team and portfolio management experience is preferred.
  • Experience underwriting and servicing venture banking type credits.
To Thrive at Live Oak
  • Gravitate to Growth – Shows adaptability and support for changes to improve organizational effectiveness.
  • Customer at the Center – Provides customers with a personalized experience to achieve exceptional outcomes.
  • Know Your Business – Curates and maintains a depth of knowledge and skill to perform one’s job effectively.
  • Eye of the Tiger – Gets positive results by taking personal responsibility for actions and team outcomes.
  • Communicate and Collaborate – Communicates clearly and thoughtfully, demonstrating empathy in teamwork.
For a detailed overview of our employee benefits please visit:
https://www.liveoakbank.com/corporate-social-responsibility/live-oak-bank-employees/
At Live Oak Bank, we are passionately focused on creating an inclusive and genuine environment! We encourage you to apply for roles that you believe you’d be a great fit for, even if you feel your past experience does not perfectly match every requirement. As we continue to grow, our People Team will match the skillsets of current and prior applicants with open roles within our organization. As we say at Live Oak, "Paint the Target!" and go after your goals!"