Business Development Officer

<strong>As a healthy, growing and thriving bank, we offer employees everything they need to flourish in the world of banking. That&rsquo;s because we strongly believe our people are our strongest assets. From advancement opportunities to employee development, we invest in our people to be the best they can be.<br /><br /></strong>Member FDIC&nbsp; |&nbsp; Equal Housing Lender&nbsp;

Troy, MI

Chemical Bank

<p><strong>Since 1917, Chemical Bank&rsquo;s home town approach to banking has been focused on community banking, highlighted by local leadership and decision making, a devotion to community and personalized service. We pride ourselves on being an Equal Opportunity Employer.<br /><br />As a Chemical Banker, you will join other professionals who share our community banking philosophy of making a positive impact where we live, work and play. You will be a part of a growing community bank that believes in the dreams of its customers and employees alike. With Chemical Bank, you will make a difference in your community while enjoying excellent benefits and top career opportunities. Visit our&nbsp;<a href="https://www.chemicalbank.com/careers/">Careers Page</a>&nbsp;for more information.</strong></p> <br /> <p>&nbsp;</p> https://www.chemicalbank.com/

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Full-Time

Overview: <span style="font-size: 10pt; font-family: verdana, geneva;"><strong>Job Summary: </strong></span> <p style="margin: 0px;"><span style="font-size: 10pt; font-family: verdana, geneva;">The Business Development Officer is responsible for identifying, structuring, and closing tax credit investments that grow the InSite Capital/Chemical Bank tax credit portfolio.&nbsp; This would include developing new business by building strong relationships with referral partners, including real estate developers, accountants, attorneys, and state agency representatives.&nbsp; The Business Development Officers work with the Asset Managers to complete due diligence and underwrite new transactions, and assists in the ongoing monitoring of the tax credit portfolio.&nbsp; &nbsp;&nbsp;&nbsp;</span></p> <p style="margin: 0px;"><span style="font-size: 10pt; font-family: verdana, geneva;">&nbsp;</span></p> <p style="margin: 0px;"><span style="font-size: 10pt; font-family: verdana, geneva;"><strong><br />Reporting Relationship:</strong></span></p> <p style="margin: 0px;"><span style="font-family: verdana, geneva; font-size: 10pt;">The Business Development Officer reports to the InSite Capital Manager and will work closely with the Asset Managers, the Commercial Real Estate Lenders and bank Relationship Managers, when applicable, in an effort to source new tax credit investment opportunities and meet tax credit investment goals and objectives. </span></p>
Responsibilities: <span style="font-size: 10pt; font-family: verdana, geneva;"><strong>Job Duties: </strong></span> <p style="margin: 0px;"><span style="font-family: verdana, geneva; font-size: 10pt;">Performs business development and relationship management responsibilities including:</span></p> <ul> <li><span style="font-size: 10pt; font-family: verdana, geneva;">Source, develop, and underwrite new tax credit investment requests.</span></li> <li><span style="font-size: 10pt; font-family: verdana, geneva;">Negotiate terms and structure investments and loans based on risk considerations.</span></li> <li><span style="font-size: 10pt; font-family: verdana, geneva;">Present investments for approval to appropriate levels of authority with the company.</span></li> <li><span style="font-size: 10pt; font-family: verdana, geneva;">Make decisions about denying, recommending, counter-offering, or approval of investment requests.</span></li> <li><span style="font-size: 10pt; font-family: verdana, geneva;">Maximize company profitability through appropriate pricing on tax credit investments and loans and fee income.</span></li> <li><span style="font-size: 10pt; font-family: verdana, geneva;">Manage the total return of the relationship.</span></li> <li><span style="font-size: 10pt; font-family: verdana, geneva;">Identify and build positive business relationships with outside investors, developers, accountants, attorneys, consultants, property managers, housing finance agencies, lenders, and any other related parties.</span></li> <li><span style="font-size: 10pt; font-family: verdana, geneva;">Establish and maintain a network of resources.</span></li> <li><span style="font-size: 10pt; font-family: verdana, geneva;">Participate in local civic, cultural, and community reinvestment act activities. </span></li> <li><span style="font-size: 10pt; font-family: verdana, geneva;">Maintain up-to-date industry knowledge, including rules and regulations impacting tax credit transactions. </span></li> <li><span style="font-size: 10pt; font-family: verdana, geneva;">Attend construction site visits, assist the construction draw process, and approve monthly construction draws. </span></li> <li><span style="font-size: 10pt; font-family: verdana, geneva;">Assist in the management of the existing tax credit portfolio.</span></li> <li><span style="font-size: 10pt; font-family: verdana, geneva;">Support the company&rsquo;s strong relationship culture through on-going client contact, quality client service and superior knowledge.</span></li> <li><span style="font-size: 10pt; font-family: verdana, geneva;">Coordinate with Commercial Real Estate lenders and Asset Managers to ensure customers are being serviced as needed.</span></li> <li><span style="font-size: 10pt; font-family: verdana, geneva;">Attend internal Bank meetings and external customer meetings to source, approve, and monitor tax credit investments..</span></li> <li><span style="font-size: 10pt; font-family: verdana, geneva;">Review legal documents and seek additional approvals to ensure compliance, if necessary.</span></li> <li style="margin-bottom: .0001pt;"><span style="font-size: 10pt; font-family: verdana, geneva;">Familiar with operations and approval docs to facilitate booking and supporting the Finance and Accounting department in getting approvals for funding wires.</span></li> </ul>
Requirements: <span style="font-size: 10pt; font-family: verdana, geneva;"><strong>Required Knowledge/Skills/Abilities:</strong></span> <ul> <li style="margin-bottom: .0001pt;"><span style="font-size: 10pt; font-family: verdana, geneva;">Experience with commercial real estate and tax credit deal structures.</span></li> <li style="margin-bottom: .0001pt;"><span style="font-size: 10pt; font-family: verdana, geneva;">Experience with multi-tiered capital stacks and the ability to work with Agents, legal counsel and the client to support closing those deals.</span></li> <li style="margin-bottom: .0001pt;"><span style="font-size: 10pt; font-family: verdana, geneva;">Proven track record of working successfully with customers, team members, and management.</span></li> <li style="margin-bottom: .0001pt;"><span style="font-size: 10pt; font-family: verdana, geneva;">High level of technical expertise.</span></li> <li style="margin-bottom: .0001pt;"><span style="font-size: 10pt; font-family: verdana, geneva;">Experience with business law basics and organizational and loan documentation.</span></li> <li style="margin-bottom: .0001pt;"><span style="font-size: 10pt; font-family: verdana, geneva;">Good analytical and negotiating skills.</span></li> <li style="margin-bottom: .0001pt;"><span style="font-size: 10pt; font-family: verdana, geneva;">Demonstrated ability to source and produce new business.</span></li> <li style="margin-bottom: .0001pt;"><span style="font-size: 10pt; font-family: verdana, geneva;">A bachelor&rsquo;s degree preferably in business management, accounting and/or finance.</span></li> <li style="margin-bottom: .0001pt;"><span style="font-size: 10pt; font-family: verdana, geneva;">At least 3 years of tax credit investment or commercial real estate lending experience. </span></li> <li style="margin-bottom: .0001pt;"><span style="font-size: 10pt; font-family: verdana, geneva;">Strong credit and underwriting skills; understanding of bank&rsquo;s credit profile, credit policies, and risk management objectives.</span></li> <li style="margin-bottom: .0001pt;"><span style="font-size: 10pt; font-family: verdana, geneva;">Strong written and verbal communication skills.</span></li> <li style="margin-bottom: .0001pt;"><span style="font-size: 10pt; font-family: verdana, geneva;">Strong interpersonal skills to effectively communicate with external clients, senior account executives, agent banks, credit administration, and other bank personnel.</span></li> <li style="margin-bottom: .0001pt;"><span style="font-size: 10pt; font-family: verdana, geneva;">Ability to effectively work under tight timelines and manage time effectively.</span></li> <li style="margin-bottom: .0001pt;"><span style="font-size: 10pt; font-family: verdana, geneva;">Proficient user of Microsoft Excel and Word.</span></li> <li style="margin-bottom: .0001pt;"><span style="font-size: 10pt; font-family: verdana, geneva;">Demonstrated ability to analyze, negotiate, and manage complex multi-tiered transactions.</span></li> <li style="margin-bottom: .0001pt;"><span style="font-size: 10pt; font-family: verdana, geneva;">Experience analyzing business financial statements and tax returns (individuals and business).</span></li> </ul> <p style="margin: 0px;"><span style="font-size: 10pt; font-family: verdana, geneva;"><strong>&nbsp;<br /><br /></strong></span></p> <p style="margin: 0px;"><span style="font-size: 10pt; font-family: verdana, geneva;"><strong>General Working Conditions:</strong></span></p> <p style="margin: 0px;"><span style="font-family: verdana, geneva; font-size: 10pt;">While performing the duties of this job, the employee is required to communicate effectively with others, sit, stand, walk, and use hands to handle keyboard, telephone, paper, files, and other equipment and objects.&nbsp; The employee is occasionally required to reach with hands and arms.&nbsp; This position requires the ability to review detailed documents and read computer screens.&nbsp; The employee will occasionally lift and/or move up to 10 pounds.&nbsp; The work environment requires appropriate interaction with others. Travel to different locations and within the market will be required.</span> </p>