Senior Service Officer or Lead Service Officer (Community Development Lending and Investment Team)

Location:

Qualified candidate must be able to report to 1 of the offices listed 2 days per week; this is a hybrid role.

This position may be filled at different salary grade levels depending on requirements.

Senior Service Officer Job Description:

Responsible for all pre-closing and closing functions required for credit products offered by Real Estate Capital, primarily the Community Development Lending and Investment team, or other KeyBank lines of business as required by credit policy, including compliance with credit policy, internal compliance procedures (OFAC, Patriot Act, Beneficial Ownership etc.), credit approval, and documentation standards according to internal closing procedures and controls. Maintain a volume assigned portfolio consisting of moderate to highly complex construction and tax credit equity transactions, interim loans (including multiple tranche transactions), line of credit facilities, and standby letters of credit or revenue bond transactions, any of which may be syndicated/participated. Transactions primarily involve low income housing tax credits (LIHTC), historic tax credits (HTC), new markets tax credits (NMTC), commercial, multifamily, residential and tax exempt bond financing transactions. Independently manage assigned work with limited oversight from Manager and offer assistance to others as time permits. Responsible for providing superior internal and external client service while anticipating and mitigating risk to KeyBank. Lead projects and initiatives and offers suggestions to support a continuous improvement mindset. Provide ongoing coaching and mentoring to others and serve as a back-up to the Manager, as needed.

• Provide expertise to RM and PM in pre-closing process through review of items required to close, participation in client meetings, review of credit approval conditions and assistance and review of loan documentation
• Proactively drive the loan closing process with the client, utilizing closing checklist to identify and monitor progress of items required to close and responsible parties, identifying the items and conditions to be satisfied, and obtaining and reviewing due diligence for the transaction
• Display expert level of proficiency in reviewing documentation to ensure accurate representation of business terms and conformity to credit approval and policies
• Engage/coordinate outside consultants necessary for the transaction, including legal counsel. Serve as the primary contact for the bank throughout the closing process
• Consistently provide superior service directly for bank clients while maintaining risk management, compliance with bank policies and regulatory requirements, internal procedures and controls
• Utilize internal compliance applications in order to ensure adherence to all governmental and fiduciary laws, including OFAC and Patriot Act
• Identify and resolve issues affecting client credit facilities and mitigate risks to Key; partner with Loan Services to resolve issues as appropriate
• Work closely with the RM, borrowers, borrower's counsel, bank counsel, title companies and Service Officer, among others to achieve a well-coordinated and timely loan closing
• Clearly and immediately communicate problems/issues and elevate appropriately; assist in resolving issues affecting client service and risk management
• Work with Service Officer, consultant and RM to ensure project budget is balanced and conforms to loan approval
• Provide authorization to close to Service Officer; work closely with multiple parties to achieve a well-coordinated and timely closing, funding and booking of the transaction
• Coordinate collection of all fees and charges necessary to close transaction; provide required documentation for booking transaction, fees and establishing ticklers for financial covenants
• Assemble and maintain closing file in a timely manner; enter and monitor required post closing ticklers
• Ensure documentation exceptions are tracked on the exception report, take ownership and provide remediation of any documentation exceptions noted, working in tandem with the RM as appropriate
• Identify process improvements to continuously enhance client service and documentation quality
• Coach and mentor others on the team; serve as back-up to the Manager, as needed
• Serve as a resource to the credit underwriting team for deal structure inquiries
• Lead various ad hoc projects and provide reporting information as requested

• Bachelor's Degree in business or equivalent experience
• Extensive knowledge of construction and interim loan financing including underwriting, risk management and mitigation, loan closing and portfolio administration
• Extensive knowledge of commercial real estate programs/products and services including low income housing tax credit (LIHTC), historic tax credit (HTC), new market tax credit (NMTC), tax exempt bonds, letters of credit (L/C's), permanent mortgages and forward commitments, interest rate protection products, etc.
• Extensive knowledge of government programs for affordable housing and community reinvestment; experience with not-for-profit real estate development and sensitivity to local community needs
• Significant experience with multi-bank loan participations/syndications and secondary market standards
• Strong solution-oriented and problem-solving skills; detail-oriented
• Demonstrated decision-making ability
• Strong aptitude for analysis, systems and mathematics
• Strong written and verbal communication skills
• Strong planning and organizational skills
• Proven ability to prioritize and handle multiple tasks in a high-volume environment
• Familiarity with commercial loan accounting systems
• PC proficiency including familiarity with Microsoft Excel and Word.

• Successful track record of leading a team and coordinating all aspects of a closing
• MBA or legal background preferred

• Customer Focus: Is dedicated to meeting the expectations and requirements of internal and external customers; gets first-hand customer information and uses it for improvements in products and services; acts with customers in mind; establishes and maintains effective relationships with and gains their trust and respect.
• Detail Oriented: Analyzes and interprets information; ensures quality and content of all aspects of a transaction; is able to manage a variety of tasks accurately
• Integrity, Trust & Respect: Is widely trusted; is seen as a direct, truthful individual who respects others and is respected; can present the unvarnished truth in an appropriate and helpful manner; keeps confidences; openly acknowledges his/her own mistakes; does not misrepresent himself/herself for personal gain.
• Interpersonal savvy: Relates well to a diverse and broad range of people, up, down, and sideways, inside and outside the organization; builds appropriate rapport; build constructive and effective relationships; uses diplomacy and tact; can diffuse even high-tension situations comfortably.
• Problem Solving: Uses rigorous logic and methods to solve difficult problems with effective solutions; probes all fruitful sources for answers; can see hidden problems; is excellent at honest analysis; looks beyond the obvious and doesn't stop at the first answers.
• Directing Others: Is good at establishing clear directions; sets stretching objectives; distributes workload appropriately; lays out work in a well-planned and organized manner; maintains two-way dialogue with others on work and results; brings out the best in people; is a clear communicator.
• Time Management: Uses time effectively and efficiently; values time; concentrates efforts on the most important priorities; is organized and gets more done in less time than others; can attend to a broader range of activities.
• Written Communications: Is able to write clearly and succinctly in a variety of communication settings and styles; can get messages across that have the desired effect.

Personal computer utilizing programs e.g. Microsoft Office, Desktop, Loan IQ, Hogan etc

Commercial real estate seminars on targeted lending and equity programs

LEAD SERVICE OFFICER:

Responsible for all pre-closing and closing functions required for credit products offered by Real Estate Capital, primarily the Community Development Lending and Investment team, or other KeyBank lines of business as required by credit policy, including compliance with credit policy, internal compliance procedures (OFAC, Patriot Act, Beneficial Ownership etc.), credit approval, and documentation standards according to internal closing procedures and controls. Maintain an assigned portfolio consisting of simple to moderately complex construction and tax credit equity transactions, interim loans (including multiple tranche transactions), line of credit facilities, and standby letters of credit or revenue bond transactions, any of which may be syndicated/participated. Transactions primarily involve low income housing tax credits (LIHTC), historic tax credits (HTC), new markets tax credits (NMTC), commercial, multifamily, residential and tax exempt bond financing transactions. Responsible for providing superior internal and external client service while managing risk to KeyBank. Assist or lead projects and initiatives and offers suggestions to support a continuous improvement mindset.

• Provide expertise to RM and PM in pre-closing process through review of items required to close, participation in client meetings, review of credit approval conditions and assistance and review of loan documentation
• Drive the loan closing process with the client, utilizing closing checklist to identify and monitor progress of items required to close and responsible parties, identifying the items and conditions to be satisfied, and obtaining and reviewing due diligence for the transaction
• Display high level of proficiency in reviewing documentation to ensure accurate representation of business terms and conformity to credit approval and policies
• Engage/coordinate outside consultants necessary for the transaction, including legal counsel. Serve as the primary contact for the bank throughout the closing process
• Consistently provide superior service directly for bank clients while maintaining risk management, compliance with bank policies and regulatory requirements, internal procedures and controls
• Utilize internal compliance applications in order to ensure adherence to all governmental and fiduciary laws, including OFAC and Patriot Act
• Identify and resolve issues affecting client credit facilities and mitigate risks to Key; partner with Loan Services to resolve issues as appropriate
• Work closely with the RM, borrowers, borrower's counsel, bank counsel, title companies and Service Officer, among others to achieve a well-coordinated and timely loan closing
• Clearly and immediately communicate problems/issues and elevate appropriately; assist in resolving issues affecting client service and risk management
• Work with Service Officer , consultant and RM to ensure project budget is balanced and conforms to loan approval
• Provide authorization to close to Service Officer; work closely with multiple parties to achieve a well-coordinated and timely closing, funding and booking of the transaction
• Coordinate collection of all fees and charges necessary to close transaction; provide required documentation for booking transaction, fees and establishing ticklers for financial covenants
• Assemble and maintain closing file in a timely manner; enter and monitor required post closing ticklers
• Ensure documentation exceptions are tracked on the exception report, take ownership and provide remediation of any documentation exceptions noted, working in tandem with the RM as appropriate
• Identify process improvements to continuously enhance client service and documentation quality
• Train and mentor less experienced Closing Officers; provide backup to other Closing Officers
• Under the direction of the Manager, assist with other ad hoc projects and reporting as requested

• Bachelor's Degree in business or equivalent experience
• Thorough knowledge of construction and interim loan financing including underwriting, risk management and mitigation, loan closing and portfolio administration
• Strong knowledge of commercial real estate programs/products and services
• Strong solution-oriented and problem-solving skills; detail-oriented
• Demonstrated decision-making ability
• Strong aptitude for analysis, systems and mathematics
• Strong written and verbal communication skills
• Strong planning and organizational skills
• Proven ability to prioritize and handle multiple tasks in a high-volume environment
• Familiarity with commercial loan accounting systems
• PC proficiency including familiarity with Microsoft Excel and Word.

• Successful track record of leading a team and coordinating all aspects of a closing
• MBA or legal background preferred
• Strong knowledge of low income housing tax credit (LIHTC), historic tax credit (HTC), new market tax credit (NMTC), tax exempt bonds, letters of credit (L/C's), permanent mortgages and forward commitments, interest rate protection products, etc.
• Strong knowledge of government programs for affordable housing and community reinvestment; experience with not-for-profit real estate development and sensitivity to local community needs
• Experience with multi-bank loan participations/syndications and secondary market standards

• Customer Focus: Is dedicated to meeting the expectations and requirements of internal and external customers; gets first-hand customer information and uses it for improvements in products and services; acts with customers in mind; establishes and maintains effective relationships with and gains their trust and respect.
• Detail Oriented: Analyzes and interprets information; ensures quality and content of all aspects of a transaction; is able to manage a variety of tasks accurately
• Integrity, Trust & Respect: Is widely trusted; is seen as a direct, truthful individual who respects others and is respected; can present the unvarnished truth in an appropriate and helpful manner; keeps confidences; openly acknowledges his/her own mistakes; does not misrepresent himself/herself for personal gain.
• Interpersonal savvy: Relates well to a diverse and broad range of people, up, down, and sideways, inside and outside the organization; builds appropriate rapport; build constructive and effective relationships; uses diplomacy and tact; can diffuse even high-tension situations comfortably.
• Problem Solving: Uses rigorous logic and methods to solve difficult problems with effective solutions; probes all fruitful sources for answers; can see hidden problems; is excellent at honest analysis; looks beyond the obvious and doesn't stop at the first answers.
• Directing Others: Is good at establishing clear directions; sets stretching objectives; distributes workload appropriately; lays out work in a well-planned and organized manner; maintains two-way dialogue with others on work and results; brings out the best in people; is a clear communicator.
• Time Management: Uses time effectively and efficiently; values time; concentrates efforts on the most important priorities; is organized and gets more done in less time than others; can attend to a broader range of activities.
• Written Communications: Is able to write clearly and succinctly in a variety of communication settings and styles; can get messages across that have the desired effect.

Personal computer utilizing programs e.g. Microsoft Office, Desktop, Loan IQ, Hogan etc

Commercial real estate seminars on targeted lending and equity programs

Key has implemented a role-based Mobile by Design approach to our employee workspaces, dedicating space to those whose roles require specific workspaces, while providing flexible options for roles which are less dependent on assigned workspaces and can be performed effectively in a mobile environment. As a result, this role may be mobile or home based, which means you may work either at a home office or in a Key facility to perform your job duties. May be open to considering multiple locations within the United States with preference to KeyBank footprint and near certain KeyBank locations.

COMPENSATION AND BENEFITS

The Lead Service Officer position is eligible to earn a base salary in the range of $75,000.00 to $85,000.00annually depending on job-related factors such as level of experience.

The Senior Service Officer position is eligible to earn a base salary in the range of $90,000.00 to $105,000.00 annually depending on job-related factors such as level of experience. Compensation for these roles also includes eligibility for short-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.

Please click here for a list of benefits for which this position is eligible.

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.