Leveraged Finance Relationship Manager

Overview

Old National Bank has been serving clients and communities since 1834. With over $70 billion in total assets, we are a regional powerhouse deeply rooted in the communities we serve. As a trusted partner, we thrive on helping our clients achieve their goals and dreams, and we are committed to social responsibility and investing in our communities through volunteering and charitable giving. 

We continually seek highly motivated and talented individuals as our people are critical to our success. In return, we offer competitive compensation with our salary and incentive program, in addition to medical, dental, and vision insurance.  401K, continuing education opportunities and an employee assistance program are also included in our benefit suite. Old National also offers a variety of Impact Network Groups led by team members who are passionate about driving engagement, creating awareness of diverse backgrounds and experiences, and building inclusion across the organization.  We offer a unique opportunity to join a growing, community and client-focused company that is firmly rooted in its core values.

Responsibilities

Job Summary 

The Leveraged Finance Relationship Manager is responsible for developing and managing relationships with financial sponsors, portfolio companies and other leveraged finance clients. The Relationship Manager generates new loan, deposit and fee based business by identifying opportunities, originating and structuring financing solutions, and coordinating the bank's capabilities to deepen profitable client relationships.  

The position services as a primary relationship contact for assigned financial sponsors and leveraged finance clients and develops a strong understanding of each sponsor's investment strategy, portfolio and financing needs. The Relationship Manager partners with credit, portfolio management, capital markets, treasury management, merchant services, wealth, swaps and other internal partners to evaluate opportunities and deliver comprehensive banking solutions.  

The position is accountable for meeting assigned production and revenue goals while maintaining appropriate credit quality, risk adjusted returns and portfolio performance. Individual portfolio manaement, sponsor coverage, prospective client development and expansion of existing relationshps are critical to success.  

Salary Range

The salary range for this position is $200,000 - $230,000 per year plus bonus. The base salary indicated for this position reflects the compensation range applicable to all levels of the role across the United States. Actual salary offers within this range may vary based on a number of factors, including the specific responsibilities of the position, the candidate’s relevant skills and professional experience, educational qualifications, and geographic location.

Key Accountabilities 

Sponsor and Client Relationship Development 

• Develop and maintain relationships with financial sponsors, private equity firms, portfolio companies, intermediaries, centers of influence and other participants in the leveraged-finance market. 

• Establish a detailed understanding of assigned sponsors, including investment focus, portfolio composition, acquisition strategy, capital structure preferences and financing needs. 

• Develop and execute sponsor coverage plans that identify priority relationships, portfolio-company opportunities and actionable business-development strategies. 

• Maintain consistent contact with sponsors, clients and prospects to identify acquisition financing, refinancing, recapitalization, growth capital and other financing opportunities. 

• Build credibility as a trusted banking partner by providing responsive, informed and commercially sound guidance throughout the relationship. 

• Represent Old National in client, sponsor and market activities that strengthen the bank’s visibility and leveraged-finance pipeline. 

Business Development and Revenue Generation 

• Achieve assigned personal goals for new loan, deposit, fee and other relationship-based revenue. 

• Build and maintain a qualified pipeline of leveraged-finance opportunities through proactive sponsor coverage, client development and center-of-influence relationships. 

• Use a consultative approach to understand client objectives, evaluate opportunities and present relevant financing and banking solutions. 

• Identify opportunities to expand relationships by connecting sponsors and portfolio companies with Treasury Management and Merchant Services, Wealth, Capital Markets, Swaps and other Old National capabilities. 

• Coordinate internal resources and referral partners to provide an integrated and client-focused experience. 

• Maintain disciplined calling, pipeline and sales-management activities consistent with the Leveraged Finance business strategy. 

Leveraged-Finance Originations and Transaction Execution 

• Originate, evaluate and support the structuring of leveraged-finance transactions consistent with Old National’s risk appetite, loan standards and return expectations. 

• Assess transaction purpose, sources and uses, capital structure, leverage, cash-flow capacity, sponsor support, repayment sources, collateral and key transaction risks. 

• Work with credit, portfolio management, capital markets, counsel and other internal stakeholders to develop appropriately structured and priced financing solutions. 

• Prepare and present financing proposals, term sheets and other client-facing materials in partnership with appropriate internal resources. 

• Participate in discussions with sponsors and clients regarding financing alternatives, structure, pricing, terms and execution considerations. 

• Coordinate transaction execution to promote timely underwriting, approval, documentation and closing. 

• Communicate material risks, emerging issues and transaction developments clearly and promptly to appropriate stakeholders. 

Portfolio and Risk Management 

• Manage an assigned portfolio of leveraged-finance relationships in accordance with current loan standards, credit policies and regulatory requirements. 

• Maintain an informed understanding of client performance, industry conditions, capital structure, covenant compliance, liquidity and other factors that could affect credit quality. 

• Complete or coordinate timely relationship reviews, renewals, monitoring requirements and other portfolio-management activities. 

• Work closely with portfolio and credit partners to identify changes in risk and determine appropriate action. 

• Ensure criticized or classified-credit concerns, covenant issues, delinquencies and other emerging risks are identified and escalated promptly. 

• Balance growth objectives with disciplined credit judgment, appropriate pricing and acceptable risk-adjusted returns. 

• Support proactive portfolio strategies that protect the bank’s interests and minimize risk of loss. 

Internal Partnership and Market Collaboration 

• Establish effective partnerships with the Head of Leveraged Finance, Portfolio Bankers, Credit, Capital Markets and other internal stakeholders. 

• Share market intelligence regarding sponsor activity, transaction structures, pricing, competitive conditions and emerging risks. 

• Contribute to a collaborative team environment through effective communication, knowledge sharing and support of team priorities. 

• Provide informal coaching and technical guidance to colleagues, as appropriate to the position’s experience and level. 

• Demonstrate Old National’s values and leadership principles in interactions with clients, sponsors, colleagues and external partners. 

Key Competencies for Position 

Strategy in Action – Build your strategic mindset capability.   

• Breaks down larger goals into smaller achievable goals and communicates how they are contributing to the broader goal.  

• Actively seeks to understand factors and trends that may influence role.  

• Anticipates risk and develop contingency plans to manage risks.  

• Identifies opportunities for improvement and seeks insights from other sources to generate potential solutions.  

• Aligns activities to meet individual, team and organizational goals.    

Compelling Communication – Openly and effectively communicates with others.   

• Effectively and transparently shares information and ideas with others.   

• Tailors the delivery of communication in a way that engages the audience and that is easy to understand and retain.   

• Unites others towards common goal.   

• Asks for others' opinions and ideas and listens actively to gain their support when clarifying expectations, agreeing on a solution and checking for satisfaction. 

Makes Decisions & Solves Problems – Seeks deeper understanding and takes action.   

• Takes ownership of the problem while collaborating with others on a resolution with an appropriate level of urgency.   

• Collaborates and seeks to understands the root causes of problems.   

• Evaluates the implications of new information or events and recommends solutions using decisions that are sound based on what is known at the time.   

• Takes action that is consistent with available facts, constraints and probable consequences. 

Delights Clients – Continuously seeks and applies knowledge leading to a best-in-class client experience.   

• Passionately serves internal/external clients with excellence.   

• Maintains a growth mindset staying current with developments and trends in areas of expertise influencing client satisfaction both internally and externally.  

• Understands data, metrics and/or financial information, and how they tie to client satisfaction and business outcomes related to position, client and/or team.   

• Nurtures client relationships by listening, prioritizing, and acting responsibly to meet client needs, mitigate risk and add shareholder value. 

Commercial and Strategic Judgment 

• Understands sponsor objectives, leveraged-business models, transaction structures and the factors influencing risk and return. 

• Connects sponsor and client needs with the bank’s strategic priorities, risk appetite and capabilities. 

• Evaluates opportunities from both relationship and credit perspectives. 

Relationship Influence 

• Develops credibility with sophisticated financial sponsors, executives, advisors and internal decision-makers. 

• Communicates complex transaction considerations clearly and adapts the message to the intended audience. 

• Orchestrates resources across multiple functions to move opportunities and transactions forward. 

Execution Discipline 

• Manages multiple relationships and transactions in a deadline-driven environment. 

• Anticipates execution barriers and engages the appropriate partners early. 

• Maintains accuracy, responsiveness and clear accountability throughout the deal process. 

Qualifications and Education Requirements 

• Bachelor’s degree and/or H.S. Diploma/GED with equivalent work experience.   

• Minimum 5 years of relevant experience in leveraged finance, sponsor finance, corporate banking, commercial lending, private credit, investment banking or a closely related field.  

• Demonstrated experience developing or managing relationships with financial sponsors, portfolio companies, corporate borrowers, intermediaries or other sophisticated commercial clients. 

• Experience originating, structuring, underwriting or executing leveraged lending transactions. 

• Strong understanding of cash-flow lending, capital structures, debt capacity, financial modeling, credit analysis and transaction risk. 

• Working knowledge of applicable loan standards, credit administration practices and banking regulatory requirements. 

• Demonstrated history of successful business development, relationship expansion or transaction execution. 

• Strong written, verbal, presentation, negotiation and financial-analysis skills. 

• Ability to coordinate internal resources and build effective partnerships across relationship management, credit, portfolio management, capital markets and product organizations. 

• Ability to manage multiple priorities and transactions in a fast-paced, deadline-oriented environment. 

Preferred Qualifications 

• Experience covering private equity firms and sponsor-backed companies. 

• Established relationships within the financial sponsor, leveraged-finance or middle-market deal community. 

• Experience with acquisition financing, recapitalizations, refinancing transactions and other sponsor-backed credit structures. 

• Experience working with syndicated, club or participated credit facilities. 

• Advanced degree, CFA designation or other relevant financial credential. 

Relationship Manager roles may vary between RM II, RM III, RM IV, RM Senior – this position may be filled at a different level depending on the candidate’s qualifications and relevant experience.  Factors may include but are not limited to: 

• Depth and breadth of leveraged finance, sponsor coverage, commrecial banking credit portfolio management experience; the size and complexity of transactions and relationships previously managed; history of successful production and relationship development; market connectivity; demonstrated ability to structure and execute complex credits; experience influencing others.  

• Number of consistent years with success and track record as a Relationship Manager (or similar role) at the Bank or at another financial institution 

• Demonstrated and proven ability to work through complex credits and/or other unique situations 

• Well connected, known in market/region/industry, and influential in acquiring, deepening, and maintaining profitable client relationships through sales, prospecting and enhancing existing relationships 

• Prior experience formally or informally coaching and mentoring peers while utilizing leadership skills 

• Agile and prior proficiency to adapt if/when changes in sales practices and broader market and industry conditions are needed 

Key Measures of Success/Key Deliverables 

• Revenue and Production 

Achieves assigned goals for new loan production, deposits, fee income and average portfolio balances. 

• Sponsor coverage and pipeline development  Develops and executes meaningful coverage plans for assigned financial sponsors and maintains a qualified pipeline of actionable leveraged-finance opportunities. 

• Relationship expansion  Deepens sponsor and portfolio-company relationships through appropriate introductions and solutions involving Treasury Management and Merchant Services, Capital Markets, Wealth, Swaps and other bank capabilities. 

• Portfolio quality and risk management  Maintains acceptable credit quality, timely monitoring, covenant compliance and appropriate escalation of emerging risks, delinquencies and criticized or classified exposures. 

• Transaction execution and partnership  Consistently delivers well-structured, appropriately priced transactions through effective collaboration with credit, portfolio management, product partners, counsel and other stakeholders. 

Old National is proud to be an equal opportunity employer focused on fostering an inclusive workplace and committed to hiring a workforce comprised of diverse backgrounds, cultures and thinking styles. 

As such, all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, protected veteran status, status as a qualified individual with disability, sexual orientation, gender identity or any other characteristic protected by law. 

We do not accept resumes from external staffing agencies or independent recruiters for any of our openings unless we have an agreement signed by the Director of Talent Acquisition, SVP, to fill a specific position.

Our culture is firmly rooted in our core values.

We are optimistic. We are collaborative. We are inclusive. We are agile. We are ethical.

We are Old National Bank.  Join our team!