Impact Finance - Access to Capital Director for Environmental Finance

at U.S. Bank in Chicago, Illinois, United States

Job Description

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

The Business Impact Group (“BIG”) was formed to assist Impact Finance Group address the U.S. Bank’s commitment to close the racial wealth gap through its signature Access Commitment Initiative. The intended goal is to increase the volume of lending and tax credit equity investing with BIPOC-led entities by raising the profile of the U.S. Bank in communities of color, establishing partnerships, products and programs to support BIPOC-led entities. BIG partners with Impact Finance product areas to identify market gaps that can be addressed to increase to increase the capacity of BIPOC-led and owned entities which will lead to new business development opportunities in the medium and long term.

Reporting to the Head of Access to Capital, the Environmental Finance Access to Capital Manager (“EACM”) will be responsible for enabling the execution of Impact Finance’s strategic priorities related to increasing access to capital (debt and tax credit equity) to independent power producers (IPPs) or developers (asset owners) of color. The EACM will be knowledgeable of workforce development and university-level curriculum development. The EACM should be knowledgeable of stakeholders in the renewable energy ecosystem, emerging industry developments and challenges to meeting the needs of BIPOC-owned clients. The EACM will draw on their extensive knowledge -building programs and other initiatives in collaboration with senior management, Environmental Finance, Syndications and Enabling Functions. We are looking for candidates with a commitment to the work we do and can demonstrate their creativity, diligence, enthusiasm, growth-mindset, thoughtfulness, and passion to make meaningful change in the areas of economic and racial justice.

Job Function and Key responsibilities

+ Line of Business Engagement (20%): Coordinate with EF on the needs of EF’s BIPOC-led clients in order to better understand the types of capital that these customers require from third-party investors and lenders, as well as technical assistance and capacity-building needed to address obstacles to the scaling of BIPOC-led developer-IPPs in the clean energy industry. Additionally, EACM will coordinate the sponsorship and partnership strategy of BIG’s budget to effectively meet EAC goals as well as provide DEI content and support for conferences and market activations.

+ Identification of Sources of Capital (20%): Collaborating with Syndications and Environmental Finance teams, EACM will research and compile a database on the ecosystem of investors and lenders who are investing working capital, early-stage capital, tax equity, and loans in BIPOC-led customers. These sources may include CDFIs, MDIs, credit unions, private equity funds, venture capital funds, or philanthropic dollars. EACM will coordinate with EF to identify prospective and current customers who might benefit from introductions to these mission-aligned investors/lenders.

+ Program Development (40%) : Research, design, implement and manage programs to address identified market gaps based on the collaboration with Environmental Finance Impact Capital Manager such as educational programs at higher learning institutions serving marginalized communities(i.e. HBCUs) and climate finance workforce development programs. Identify industry partnerships that provide access to capital and capacity building of developers of color such as the identification of additional sources of capital (CDFIs, MDIs, PE and foundations) to support emerging developers of color. Identify conference and other market activation sponsorship opportunities that provide for brand recognition, market intelligence and access to developers of color.

+ Reporting and Measurement (20%): Provide environmental finance EAC metrics needed to reflect performance towards Impact Finance financial goals as well as enterprise initiatives such as Access Commitment, Community Benefits Plan and CRA. Will coordinate with Impact Measurement and Finance teams to generate reports submitted to senior management and to enterprise enabling functions. Role will involve attending and reporting out results at working group or other touchpoints on a regular basis. Will collaborate with Impact Capital Manager and Impact Measurement team to establish key performance indicators (KPIs) to measure the impact of these programs.

Performance Measures:

+ Programs and partners engaged to address identified market gaps and business needs based on

+ Total $ received by BIPOC-led EF customers or prospects from CDFIs, PE funds, or other sources following EF EACM’s recommendation to EF for an introduction

+ \# of BIPOC-led/owned clients receiving needed capacity-building assistance;

+ \# of BIPOC-led/owned clients in pipeline

+ \# of BIPOC-led/owned clients becoming bank customers for bank products such as depository and lending products

Basic Qualifications

- Master’s degree, or equivalent work experience

- 10 or more years of experience in project management activities

- Two or more years of managerial experience

Preferred Skills/Experience

- 5-7 years of experience underwriting renewable energy projects

- Strong knowledge of complex renewable energy financing structures, including RETC and project finance, and familiarity with Federal and local financing sources.

- Commitment to community development and racial equity as identified in prior work and experience

- Strong communication skills demonstrating attention to detail and professional writing style

- Strong organizational skills including ability to follow through independently

- Capacity to prioritize multiple tasks to meet deadlines

U.S. Bancorp Impact Finance, the tax credit and community development division of U.S. Bank, believes all people have a right to the possibilities that comes with living in a safe and vibrant community. The financing USBIF provides for affordable housing, economic development, and renewable energy projects have a lasting social and environmental impact in communities. Visit USBIF on the web to find out more at www.usbank.com/cdc .

U.S. Bancorp Community Development Corporation is now operating as U.S. Bancorp Impact Finance. All job postings under U.S. Bancorp Impact Finance reside within the USBCDC organization.

Location Expectations

The role offers a hybrid/flexible schedule, which means there’s an in-office expectation of 3 or more days per week and the flexibility to work outside the office location for the other days.

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 (https://careers.usbank.com/global/en/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)