Head of Subscription Finance - Portfolio Management

At U.S. Bank, we’re on a journey to do our best. Helping the customers and businesses we serve to make better and smarter financial decisions and enabling the communities we support to grow and succeed.  We believe it takes all of us to bring our shared ambition to life, and each person is unique in their potential. A career with U.S. Bank gives you a wide, ever-growing range of opportunities to discover what makes you thrive at every stage of your career. Try new things, learn new skills and discover what you excel at—all from Day One.

Job Description

U.S. Bank is seeking to hire a Head of Portfolio Management for Subscription Finance within the Structured Credit Group.

 

Primary Responsibilities include:

• Serving as the primary point of contact for all portfolio management functions and responsibilities related to the execution and management of U.S. Bank’s subscription finance portfolio.  
• Coordinating directly with the Subscription Finance origination team and the credit approval team to ensure consistency of growth strategy and execution.
• Reviewing, expanding, and establishing enhanced processes, procedures, and internal monitoring/controls in support of meaningful subscription portfolio growth in 2023 and beyond.
• Working to develop strategy and protocols around increased internal lending limits, sponsor aggregation, investor concentrations, etc.   
• Evaluating existing subscription credit policy and recommending changes as appropriate to ensure satisfactory risk mitigation and consistency of application throughout the portfolio.
• Training, recruiting, and mentoring of junior team members.

Required Qualifications include:

• 7+ years of subscription finance experience at a leading financial institution. Prior experience may include roles within credit, origination, and/or portfolio management.
• Proven experience managing and monitoring a $10BN+ loan portfolio as both Administrative Agent and participant.
• Extensive experience working with leading U.S. fund managers across a variety of investment strategies (buyout, private credit, real estate, secondaries, infrastructure, etc.).
• Experience and deep knowledge of various subscription facility structures (single investor, umbrella, commingled) and fund structures (SMAs, BDCs, open-ended funds, etc.).
• Successful track record passing extensive internal audit reviews. Experience working with external regulators to address subscription finance growth, internal protocols, and controls is strongly preferred.
• Ability to effectively lead a team of portfolio managers while meeting tight internal and external timing deadlines.
• Strong oral and written communication skills, and the ability to effectively partner with internal product and coverage groups.
• Strong Excel and PowerPoint skills

Basic Qualifications:

• Bachelor's or Master's degree in finance, accounting or other related field
• 15 or more years of banking experience
• Eight or more years of management experience

If there’s anything we can do to accommodate a disability during any portion of the application or hiring process, please refer to our disability accommodations for applicants.

Benefits: 

Our approach to benefits and total rewards considers our team members’ whole selves and what may be needed to thrive in and outside work. That's why our benefits are designed to help you and your family boost your health, protect your financial security and give you peace of mind. Our benefits include the following (some may vary based on role, location or hours):

• Healthcare (medical, dental, vision)

• Basic term and optional term life insurance

• Short-term and long-term disability

• Pregnancy disability and parental leave

• 401(k) and employer-funded retirement plan

• Paid vacation (from two to five weeks depending on salary grade and tenure)

• Up to 11 paid holiday opportunities

• Adoption assistance

• Sick and Safe Leave accruals of one hour for every 30 worked, up to 80 hours per calendar year unless otherwise provided by law

U.S. Bank is an equal opportunity employer. We consider all qualified applicants without regard to race, religion, color, sex, national origin, age, sexual orientation, gender identity, disability or veteran status, and other factors protected under applicable law.

E-Verify

U.S. Bank participates in the U.S. Department of Homeland Security E-Verify program in all facilities located in the United States and certain U.S. territories. The E-Verify program is an Internet-based employment eligibility verification system operated by the U.S. Citizenship and Immigration Services. Learn more about the E-Verify program.

The salary range reflects figures based on the primary location, which is listed first. The actual range for the role may differ based on the location of the role. In addition to salary, U.S. Bank offers a comprehensive benefits package, including incentive and recognition programs, equity stock purchase 401(k) contribution and pension (all benefits are subject to eligibility requirements). Pay Range: $238,765.00 - $280,900.00 - $308,990.00

U.S. Bank will consider qualified applicants with arrest or conviction records for employment. U.S. Bank conducts background checks consistent with applicable local laws, including the Los Angeles County Fair Chance Ordinance and the California Fair Chance Act as well as the San Francisco Fair Chance Ordinance. U.S. Bank is subject to, and conducts background checks consistent with the requirements of Section 19 of the Federal Deposit Insurance Act (FDIA). In addition, certain positions may also be subject to the requirements of FINRA, NMLS registration, Reg Z, Reg G, OFAC, the NFA, the FCPA, the Bank Secrecy Act, the SAFE Act, and/or federal guidelines applicable to an agreement, such as those related to ethics, safety, or operational procedures.

Applicants must be able to comply with U.S. Bank policies and procedures including the Code of Ethics and Business Conduct and related workplace conduct and safety policies.