About Us

How This Role Impacts Live Oak and its People

The Managing Director (“MD”) will enable the success of the Venture Banking (“VB”) team by sourcing new client opportunities, winning those opportunities, onboarding new relationships, and taking ownership of the relationships post loan closing/onboarding. The MD will do so directly and/or by overseeing a team of relationship managers responsible for a constructing a portfolio of VB clients. The MD will be the face of Live Oak Venture Banking in their respecting market. The MD will work directly with their team as well as the Portfolio Management (“PM”) team to oversee the underwriting of new credits and ensure their creditworthiness is in line with the VB standards. The MD will manage and own key VC relationships and will nurture strong relationships with referral sources in various markets. The MD will also work with other LOB groups to ensure client relationships are appropriately onboarded and serviced over the life of the loan. The MD will manage a team of Directors and/or VBOs and serve as head of a “deal team” when necessary. The Managing Director will also take on strategic projects as needed for the benefit of the team.

What You’ll Do at Live Oak

• Manage a team of VB professionals that source and evaluate new loan opportunities.

• Be the face of the VB program in a targeted market

• Oversee the underwriting process for new deals or serve as a resource for Directors and VBOs as they underwrite new deals.

• Take ownership of the opportunities that go to credit as well the overall soundness of the team’s loan portfolio.

• Present and negotiate termsheets with prospects with objective of winning the respective deal. Leverage your expertise and network to assist your team as they do the same.

• Manage the credit approval and loan document negotiation processes appropriately by working with other LOB teammates and outside counsel.

• Own the client relationship post-closing across its life cycle (directly or by team management.)

• As applicable and available, identify “non lending” relationship opportunities using the Bank’s deposit and treasury management platform. Cross-sell products to existing customers.

• The Managing Director will also work with 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.

• Manage and nurture key VC relationships in the market, either as primary owner or in partnership with other Managing Directors and Head of VB.

• Ultimately, the Managing 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 outlying geographies 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.

• Leadership- manage a team of other VB professionals with the goal of creating a large, profitable, and sound portfolio of clients.

• Termsheet Issuance and Negotiations – Take ownership of the relationship and negotiation process, either directly or by assisting members of your team

• Loan Closing – Assist and advise PM team 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 and/or lead a team of VB professionals that do the same. Collaborate with PMs and PAs as needed for regular portfolio management. Conduct client update calls as needed.

• Identify new ways (credit or otherwise) to meet client needs and expand relationship.

• Take ownership of any issues, especially as related to company performance and compliance. When necessary and applicable, work with Credit and SAG to manage troubled credits.

• Management – The Managing Director will likely manage a team of Directors & VBOs. The Managing Director will work collaboratively with their team and serve as a mentor to their direct reports. The Managing Director will manage a team in a manner that is consistent with LOB values.

• Use domain expertise and career experience to work on strategic projects as needed to benefit the VB team and Bank as a whole.

• Serve as a mentor and teacher to Directors, VBOs, PMs, PAs as they develop their skill sets.

• Be a strong teammate and enable the VB team’s long-term success.

• Never hesitate to ask questions or seek guidance, primarily from Head of VB and SCO but from other parties as well.

• Treat every client like the only client.

Required and Preferred Experience

• A minimum of 7 years Venture Banking/ VC industry specific experience is preferred.

• Experience underwriting and servicing venture banking type credits. Additional team and portfolio management experience is preferred.

• Excellent customer service and interpersonal skills

• Strong financial analysis and modeling skills.

• Sound judgment

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

• Strong computer skills, to include Word and Excel.

• Bachelor’s degree or 10+ years equivalent experience preferred.

• High degree of self-motivation, dedication, creativity, and perseverance; Flexibility with time and willingness to accept a demanding (and personally satisfying) position.

Our Values

• Dedication: Possess a deep commitment to Live Oak Bank’s mission and core values, exemplified through a strong work ethic, adaptability and pride in your work.

• Ownership: Take initiative to deliver positive results by proactively and creatively solving problems, while maintaining a high degree of quality.

• Respect: Treat everyone wi.th courtesy, politeness, and kindness.

• Innovation: Embrace fresh ideas and fearlessly contribute new solutions to emerging or existing problems.

• Teamwork: Foster collaboration, accountability, and trust with others and understand that together, we do more

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

Live Oak Bank is an Affirmative Action and Equal Opportunity Employer, Minorities/Women/Veterans/Disabled. We consider applicants for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, genetic information, veteran status or disability. Equal access to programs, service and employment is available to all persons. Those applicants requiring reasonable accommodation to the application and/or interview process should notify human resources at careers@liveoak.bank

EEO is the Law

Commitment to Diversity
Live Oak Bank is committed to creating and maintaining a workplace in which all employees have an opportunity to participate and contribute to the success of the business and are valued for their skills, experience, and unique perspectives. This commitment is embodied in company policy and the way we do business at Live Oak Bank and is an important principle of sound business management.

The base pay range for this position is $125,000.00 - $425,000.00 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.