Tax Credit Portfolio - Chicago, Illinois, United States

Overview · Old National Bank has been serving clients and communities since 1834. With over $70 billion in total assets, we are a regional powerhouse deeply rooted in the communities we serve. As a trusted partner, we thrive on helping our clients achieve their goals and dreams, ...

Job description

Overview

Old National Bank has been serving clients and communities since 1834. With over $70 billion in total assets, we are a regional powerhouse deeply rooted in the communities we serve. As a trusted partner, we thrive on helping our clients achieve their goals and dreams, and we are committed to social responsibility and investing in our communities through volunteering and charitable giving. 

We continually seek highly motivated and talented individuals as our people are critical to our success. In return, we offer competitive compensation with our salary and incentive program, in addition to medical, dental, and vision insurance.  401K, continuing education opportunities and an employee assistance program are also included in our benefit suite. Old National also offers a variety of Impact Network Groups led by team members who are passionate about driving engagement, creating awareness of diverse backgrounds and experiences, and building inclusion across the organization.  We offer a unique opportunity to join a growing, community and client-focused company that is firmly rooted in its core values.

Responsibilities

This position has primary management of Old National Bank's tax credit investment portfolio and operational responsibilities over Old National CDE Corporation and equity investments, including New Markets Tax Credits (NMTC), Low Income Housing Tax Credits (LIHTC), Historic Tax Credits (HTC) and Renewable Energy Tax Credits from closing through the compliance period and exit.

Key Accountabilities

Oversee the management of the tax credit asset management team and investment fund portfolio that include multiple investments and/or partnership relationships in closed tax credit financing; and the financial and compliance reporting of Old National CDE, including:

• Provide oversight, coaching and guidance to the asset management team as they develop procedures and monitor portfolio risk.
• Provide strategic guidance to the Head of Tax Credits on asset management, investment fund operations, investor relations, and reporting.
• Maintain responsibility and direction for asset management activities including portfolio composition, construction management, tax credit compliance, and coaching team members to ensure focus on product type and risk mitigation.
• Directly engage with clients, potential clients, and referral sources, as necessary, to drive portfolio stability and cultivate relationships.
• Maintain responsibility for the implementation and oversight of a comprehensive risk management framework, including software, standardized policies, processes and procedures for tax credits that have a significant impact on the organization.
• Assist in the preparation of the CDE's NMTC Application for tax credit allocation
• Stay informed about industry best practices, market developments, and regulatory requirements related to tax credits.
• Increase the tax credit group's community and industry engagement
• Coordinate with the bank's CRA team for community outreach and coordination of alternative investments that support the bank's assessment areas.
• Provide insight and guidance on tax credit products including alternative investments and tax credit lending
• Coordinates and regularly communicates with organizations team on closings and other portfolio movements
• Lead special projects as needed, working in cross-functional teams throughout the bank.
• Adhere to and develop policies, procedures, and regulatory compliance requirements and perform other related duties and projects as assigned.
• Travel required episodically. 

Key Competencies for Position

Develops Talent – Maximizes capabilities within team.

• Develops team members' effectiveness in their current and future roles through development activities. 
• Identifies issues, continuously provides coaching, mentoring, feedback and support to aid in building trust, development and promotability.
• Cultivates an environment of trust and optimizes talents and capabilities of team.
• Identifies the right people for the right role while leveraging diversity. 

Promotes Change – Drives Change within team 

• Communicates what needs to change, why and impact of change. 
• Demonstrates agility while engaging team members to gain insight and ensure acceptance while deploying others to implement new solutions. 
• Proactively recognizes a need and takes accountability for implementing an improvement and/or change.  Drives changes by encouraging team to think creatively and act differently to enhance client, community and shareholder value. 

Strategy in Action – Fosters strategic capability in self and others 

• Connects work to the broader goals (i.e., team, line of business) and communicates team member's role in contributing to Old National's strategy and goals.     
• Demonstrates awareness and understanding of environmental factors influencing their role.
• Anticipates, identifies, and articulates potential issues and opportunities and effectively responds.
• Identifies immediate, near-term opportunities required for business impact while exploring multiple viewpoints to generate and implement new ideas improving performance. 
• Inspires others to personally contribute to the organization's success for the long term. 

Compelling Communication – Supports transparent and open communication  

• Effectively and transparently shares information and ideas with others.
• Tailors the delivery of communication in a way that engages the audience and that is easy to understand and retain.
• Unites others towards common goal.
• Asks for others' opinions and ideas and listens actively to gain their support when clarifying expectations, agreeing on a solution and checking for satisfaction. 

Qualifications and Education Requirements

• Bachelor's Degree in Accounting, Finance, Economics or Management and/or H.S. Diploma/GED with equivalent work experience. CPA, JD, or Master's degree with emphasis in accounting or finance preferred. 
• 10+ years of relevant commercial banking or tax credit industry experience with a minimum of 3+ years of progressive leadership experience required.
• Proven leadership skills, with the ability to develop and mentor others.
• Understanding of legal and financial documents related to tax credit programs.
• Outstanding analytical and organizational skills with a high degree of intellectual curiosity
• Excellent written and oral communication and presentation skills.
• High level of emotional intelligence.

Old National is proud to be an equal opportunity employer focused on fostering an inclusive workplace and committed to hiring a workforce comprised of diverse backgrounds, cultures and thinking styles. 

As such, all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, protected veteran status, status as a qualified individual with disability, sexual orientation, gender identity or any other characteristic protected by law. 

We do not accept resumes from external staffing agencies or independent recruiters for any of our openings unless we have an agreement signed by the Director of Talent Acquisition, SVP, to fill a specific position.

Our culture is firmly rooted in our core values.

We are optimistic. We are collaborative. We are inclusive. We are agile. We are ethical.

We are Old National Bank.  Join our team