Vice President – Community Development Finance Group (New Initiatives Fund) – Deutsche Bank

Company: Deutsche Bank

Location: New York, NY

Job Function: Relationship Management


Background

Founded in 1990, CDFG is a recognized provider of innovative impact investment products and initiatives. To date, CDFG has invested over $3 billion primarily in the U.S. As a part of CDFG’s domestic operations, the team currently manages a diverse portfolio of over $500 million in loans and investments throughout the United States, with a primary focus on New York City. CDFG considers financing for projects and clients focused on issues of poverty alleviation including affordable housing, social justice, economic development, financial inclusion, workforce development, education, climate change, and heath care. CDFG originates working capital, real estate, and other community development loan and investment products and is responsible for meeting Deutsche Banks’ community development lending and investing goals under the Community Reinvestment Act (CRA).

CDFG manages the New Initiatives Fund (NIF), a portfolio of Program Relates Investments (PRI) housed within the Deutsche Bank Americas Foundation (DBAF).  NIF is an impact investment fund founded in 1997 that provides philanthropic loans and investments with the ability to assume greater risk and lower returns than conventional bank financing. Product offerings from NIF take the form of direct loans, credit enhancements, and occasionally equity investments, and often allow projects to leverage other sources of financing. NIF agreements include covenants defining social, economic and/or environmental performance expectations. NIF prioritizes projects that offer the opportunity to bring an innovation to scale, have the potential to be replicated, and have realistic plans to graduate from subsidized financing sources to access conventional capital markets. Examples of NIF deals include deeply subordinated debt to community development financial institutions, predevelopment loans to affordable housing developers, and loans to social enterprises supporting education and workforce development opportunities for low-income individuals in the U.S.

Summary

Deutsche Bank is seeking to hire a Vice President for the Deutsche Bank Community Development Finance Group (CDFG) to play an important role as Fund Manager for the New Initiatives Fund (NIF), to lead fund strategy, investments, and portfolio management for a philanthropic impact investment fund that focuses on innovations that benefit low- and moderate-income communities and individuals across the United States.  The Fund Manager will also manage operations of NIF and provide support on finance and other administrative functions.  A successful candidate will be a quick, positive thinking, problem solver who can work on complex financial transactions with diverse stakeholders.

Responsibilities

Primary Responsibilities include:

  • Lead the investment process for new NIF investments from sourcing to closing including: underwriting, analyzing project feasibility, financial strength, and fit, preparing investment memo, presenting to investment committee, managing legal negotiation and overseeing KYC and closing
  • Drive strategy development for the deployment of NIF, and source and manage a pipeline of new investments
  • Manage and develop relationships with clients, prospects, and internal/external stakeholders and represent NIF and CDFG at conferences and events, to drive new pipeline generation and increase visibility of CDFG’s work within and outside Deutsche Bank
  • Asset manage portfolio of existing NIF investments including:
    • Preparing annual credit reviews including analysis of borrowers’ financial and portfolio performance data and evaluating social impact
    • Assist with ongoing portfolio management duties including draw requests, modifications and extensions, and ensure disbursements and fundings are properly accounted for
  • Liaise with the operations, servicing, and finance areas of Deutsche Bank to ensure that loans and investments are correctly booked and all appropriate external and internal closing requirements are met
  • Lead ESG and impact tracking efforts for NIF and the CDFG portfolio, serving as ESG liaison to larger initiatives within DB and the field
  • Prepare regular reports on the New Initiatives Fund for senior management
  • Support preparation of internal and external marketing and communications related to NIF, liaising with Deutsche Bank communications team
  • Assist with Community Reinvestment Act (CRA) exam documentation, preparation and review process
  • Facilitate knowledge transfer, cross-learning and effective teamwork; some supervision of staff may be required
  • Participate in special projects

Requirements

Skills:

The candidate should be a self-starter with demonstrated passion for community development and a commitment to Deutsche Bank’s vision and values.  In addition, the candidate should have:

  • Bachelor’s degree in finance, economics or a related discipline; graduate degree in business administration, urban planning or a related discipline is a plus
  • 5+ years’ experience in the impact investing space, preferably with experience with a Foundation, impact fund, private equity fund, or other financial institution in origination, underwriting or structuring role(s); PRI experience and experience with CDFIs is a plus
  • Strong credit and investment analysis skills in either debt or equity: Ability to distill financial risks and potential social impacts; ability to analyze project financials/pro-formas, loan portfolios, financial statements and business plans and to make independent recommendations to senior and credit risk management and drive approval process
  • Direct experience in an investment/lending role in the impact space
  • Passion for social justice, racial equity and inclusion, economic mobility, community development and/or impact investing sectors
  • Working knowledge of established impact investing networks and ESG frameworks; experience in community development sector is a plus
  • Exceptional verbal communication, writing and presentation skills
  • Strong interpersonal skills, including the ability to work effectively as a member of a small, entrepreneurial and dynamic team
  • Detail oriented
  • An ease with learning new systems/applications and proficiency with Excel & PowerPoint
  • Self-motivated with effective time-management skills and ability to manage a diverse and demanding workload with minimal direct supervision

Other Responsibilities:

  • Increase visibility of CDFG’s work within Deutsche Bank and support the preparation of internal reporting and presentations to other business units and senior management
  • Support development of internal and external marketing and communications, liaising with the bank’s communications and marketing teams
  • Help drive CRA outperformance by supporting exam documentation, preparation and review
  • Facilitate knowledge transfer, cross-learning and effective teamwork; some supervision of staff may be required
  • Represent Deutsche Bank and CDFG at industry related conferences and community events
  • Participate and lead special projects or additional duties as assigned

Compensation and Benefits

Commensurate with experience

How to Apply

Interested candidates should submit a resume and cover letter to cheryl.gladstone@db.com

and also submit their application at the below link:

https://db.wd3.myworkdayjobs.com/DBWebsite/job/New-York-1-Columbus-Circle/Community-Development-Finance-Group–CDFG–New-Initiatives-Fund—Vice-President_R0203324