Venture Banking Officer

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

In accordance with established lending policies and procedures, assists Venture Banking leaders and Senior Loan Officers in examining, evaluating, and closing commercial extensions of credit. Responsible for assembling information required by Live Oak and counsel to properly close loans. Participates in conference calls with Senior Loan Officers and clients, and by populating the SF file with notes from these discussions. Promotes the Bank's services to current and potential borrowers. Must be highly responsive to clients in deal negotiations, increasingly knowledgeable of various loan structures and how to apply them with the utmost safety and soundness. Travels for site visits and conferences as needed. Works as a teammate and liaison with the VB Portfolio Management group.

What You'll Do at Live Oak

• Helps the SLO in the generation, evaluation, and underwriting of prospective clients

• Owns select client relationships and, with guidance of SLO, works to maintain, retain, and expand those.

• Over time develops a network and market presence to assist SLO and Head of VB in business development

• Joins SLO and other Loan Officers in VC calling efforts including IDRs and Networking type meetings; Works to expand relationships within VC firms

• Serves as a liaison between the Loan Production and Portfolio Management team and a resource to Portfolio Analysts as needed

• Mentors Portfolio Analysts when appropriate

• Runs cash flow spreads (directly or in collaboration with PAs), evaluates materials sent in by prospective borrowers and quickly develops critical questions, summarizes strengths and weaknesses of the opportunity

• Helps prepare credit memo materials for loans, as assigned, to be reviewed and validated by a Senior Lender.

• Assists with customer interaction to compile a full underwriting package as directed by SLO.

• Serves as a first-call liaison with the Portfolio Analyst for questions after the deal formally enters the Underwriting process.

• Develops expertise in the use of Bank loan systems. Ensures that all documents required for the credit approval and portfolio management of the loan transaction are uploaded to Salesforce, SharePoint, and third-party data rooms.

• Ensures a smooth transfer of the customer to the Loan Closing Specialist for the closing and funding of the loan

• Works on strategic projects as applicable to help SLO and Head of VB with planning for the overall success of the VB program

• Keeps abreast of economic conditions, changes, and trends in customers' businesses, the banking industry, and the specific market niches targeted by the Bank.

How You'll Do It

• Has responsibility for following regulatory requirements including those pertaining to the Bank Secrecy Act (BSA), Anti-Money Laundering (AML), Customer Identification Program (CIP), and OFAC to assist in the identification, detection, and determent of money laundering or other unlawful activities.

• Functions as a teammate and realizes all members of the team are vital to its success.

• Takes initiative

• Acts like an owner

• Treats every client like the only client

• Stays current with products and services the Bank is offering.

• Performs other duties as required.

Required and Preferred Experience

• Excellent customer service and interpersonal skills

• Strong financial analysis skills

• Manage constantly shifting priorities and timelines

• Collaborative, able to work in team environment

• Sound judgment

• Detail oriented

• PC proficiency

• In-depth knowledge of Bank lending policies, procedures and criteria

• Strong work ethic

• Strong organizational skills

• Underwriting experience is strongly preferred

• 2-4 years of industry-specific experience is required. Additional lending experience is preferred

• Minimum of a bachelor's degree in Finance, Business, or Marketing

To Thrive at Live Oak

• Gravitate to Growth

• Shows adaptability and support for changes to improve organizational effectiveness.

• Communicate and Collaborate

• Communicates clearly and thoughtfully, demonstrating empathy in teamwork.

• Eye of the Tiger

• Gets positive results by taking personal responsibility for actions and team outcomes.

• Know Your Business

• Curates and maintains a depth of knowledge and skill to perform one's job effectively.

• Customer at the Center

• Provides customers with a personalized experience to achieve exceptional outcomes.

For a detailed overview of our employee benefits please visit: http://www.liveoakbank.com/careers/

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!"

The base pay range for this position is $70,000.00 - $110,000.00 per year. Compensation may also include annual bonuses and long-term incentives, subject to various metrics and company policy. A candidate's salary is determined by several factors including travel, relevant work experience or skills and expertise.

Please note that we provide at least the minimum requirement of paid sick leave to our employees who reside in states that require employer-paid sick leave, including but not limited to Arizona, California, Colorado, District of Columbia, Maine, Maryland, Massachusetts, Michigan, Nevada, New Jersey, New Mexico, New York, Oregon, Rhode Island, Vermont, and Washington.