Director, Venture Banking

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
The Director, Venture Banking will enable the success of the Venture Banking team by sourcing new client opportunities, winning those opportunities, onboarding new relationships, and taking ownership of the relationships post loan closing/onboarding. The Director will work directly with Venture Banking Officers (“VBO”), Portfolio Managers (“PM”) and Portfolio Analysts (“PA”) to underwrite new credits and takes ownership of the final product as the relationship manager. As the relationship manager for clients, the Director (with the guidance and support of the Head of Venture Banking and/or a Managing Director) owns the client relationship over its life cycle.  The Director will help manage key VC relationships and will nurture strong relationships with referral sources in various markets. The Director will also work with other LOB groups to ensure client relationships are appropriately onboarded and serviced over the life of the loan.  The Director may manage a team of other VB professionals and/or serve as head of a “deal team” for a specific opportunity when necessary.

 
What You’ll Do at Live Oak

• Source and evaluate new loan opportunities.
• Oversee the underwriting process and take ownership of the final product that goes to credit.
• Present and negotiate term sheets with prospects; Compete to win the opportunity.
• Manage the final credit and loan document negotiation processes appropriately by working with other LOB teammates and outside counsel.
• Own the client relationship post-closing and across its LOB life cycle.
• Once applicable and available, identify “non lending” relationship opportunities using the Bank’s deposit and treasury management platform.  Cross-sell products to existing customers.
• The Director will also work with Managing Directors and the Head of Venture Banking as part of (or head of) a “deal team” when needed for opportunities/ relationships that are high priority and resource intensive.
• Take on strategic projects as needed for the benefit of the team.
• Manage and nurture key VC relationships in the market, either as primary owner or in partnership with Managing Directors and Head of VB.
• Ultimately, the Director should seek to be a sought-after partner by VC firms and their portfolio companies in a manner that is consistent with LOB’s values and enhances the overall success of the VB group.

How You’ll Do It     

• Deal Sourcing – Call on VC firms and their portfolio companies directly.  Nurture long term, mutually beneficial relationships with VC firms and other referral sources.  Attend conferences and other networking events.  Travel as needed to expand LOB brand and source new opportunities. Keep abreast of economic conditions and VC market trends. Work with team to develop broader marketing and networking efforts. 
• Term sheet Issuance and Negotiations – Take ownership of the relationship and negotiation process. Work directly with VBOs, PMs, and PAs to advise on underwriting, lead diligence calls, and take responsibility for the “final product” that goes to credit.  Issue and negotiate term sheets with prospects with objective of winning the opportunity.  Communicate clearly as process evolves and ask for guidance or assistance as needed. 
• Loan Closing – Assist and advise PAs on final credit approval package and present to credit in accordance with bank policies and procedures. Take ownership of the loan documentation process by working with outside counsel to issue, negotiate, and finalize loan docs. Work in consultation with Borrower to achieve optimal outcomes for all parties while maintaining a focus on soundness and security for LOB.  Once documents are in execution phase, be available as a resource to Closer and PA during closing and onboarding process.
• Relationship Management – Own the client relationship across the life cycle.  Serve as primary contact for company post-closing.  Collaborate with PMs and PAs as needed for regular portfolio management. Conduct client update calls and investor calls as needed. 
• Identify new ways (credit or otherwise) to meet client needs and expand relationship.