Vice President, Portfolio Management (State and Local Governments and Education Team)

Vice President, Portfolio Management

Location: 127 Public Square, Cleveland Ohio

The Vice President, Portfolio Management is an individual contributor responsible for performing financial analysis and preparing underwriting documentation to support multimillion-dollar credit requests within the State & Local Governments and Education (SLED) portfolio. These activities support the growth of funded assets and client relationships while maintaining asset quality within the Bank's defined risk appetite.

Credit activities include obtaining initial approval for new and, at times, complex credit exposure (e.g., municipal loans, leases, lines of credit, ACH exposure, and other public sector lending products), as well as amendments, renewals, and modifications to existing facilities.

The VP, Portfolio Management is also responsible for ongoing credit monitoring and risk rating for a portfolio of SLED clients, including municipalities and not-for-profit education institutions, with a level of complexity commensurate with experience. Responsibilities include evaluating borrower performance, ensuring covenant compliance, reviewing legal documentation, and supporting the identification of opportunities to expand client relationships through additional bank products.

This individual is expected to demonstrate leadership within credit underwriting and portfolio management, working both independently and in partnership with other Portfolio Managers and deal team members. The role may include providing guidance and feedback to junior team members, as appropriate.

As part of the first line of defense, Vice President Portfolio Managers are expected to consistently demonstrate a solutions-oriented, growth mindset that supports line of business objectives while maintaining sound risk management practices and supporting high-quality credit outcomes.

This position functions as an integral member of the deal team, contributing to transaction execution, credit decisioning, and client relationship support, while ensuring adherence to credit policy, regulatory requirements, and internal procedures. The role offers exposure to municipal finance clients and complex credit structures within a collaborative team environment.

Essential Responsibilities

• Gather and analyze all relevant financial data for, often high value, clients or prospects, including spreading financial statements and/or collaborating with third party vendor to ensure accuracy of financial spreads statements, analyzing historical performance, accurately calculating credit metrics, identifying risks and mitigants, and assessing creditworthiness, etc. while effectively utilizing and providing feedback to, third party resources.
• Demonstrate leadership in structuring transactions, in collaboration with Business Partners/Bankers/and Relationship Managers. Viewed as a value-add financial advisor by the client/borrower, critical and knowledgeable contributor to the deal team and respected by Credit for a solid reputation managing risk.
• Prepare clear and comprehensive credit underwriting document outlining transaction structure, financial performance, risks and mitigants, and compliance with credit policy.
• Analyze borrower financial statements, budgets, and operating data to assess creditworthiness, repayment capacity, and risk ratings.
• Manage ongoing portfolio monitoring activities, including covenant compliance, risk rating accuracy, and identification of emerging credit concerns.
• Participate in the approval process for lending commitments, amendments, waivers, and consents, including addressing feedback from Credit partners.
• Review and maintain loan documentation to ensure alignment with approved credit terms and conditions.
• Ensure compliance with all applicable policies and regulatory requirements, including Know Your Customer (KYC) and related due diligence processes.
• Partner with Relationship Managers to support client interactions, deal execution, and identification of cross-sell opportunities.
• Maintain accurate data and reporting within required systems (e.g., nCino, Salesforce, and other internal platforms).
• Contribute to team initiatives, process improvements, and ad hoc projects as assigned.
• Provide guidance and feedback to Analysts and Associates as appropriate.
• Performs other duties as assigned; duties, responsibilities and/or activities may change, or new ones may be assigned at any time with or without notice
• Complies with all KeyBank policies and procedures, including without limitation, acting professionally at all times, conducting business ethically, avoiding conflicts of interest, and acting in the best interests of Key's clients and Key.

Education

Bachelor's Degree or equivalent work experience in finance, accounting, economics and/or business (required)

Experience Qualifications

• Minimum 5 years of commercial underwriting, credit, banking and/or financial services experience (required). Municipal, public sector, or not-for-profit underwriting strongly preferred.
• Competent with Microsoft Office and the ability to learn and effectively utilize other technology applications (required)
• Demonstrated competence in financial analysis and modeling (required)
• Well established ability to gather relevant research, analyze data, and concisely synthesize large amounts of information in order to accurately assess creditworthiness and create a detailed and thorough underwriting package (required)
• Experience structuring meaningful and appropriate financial covenants for municipal and not-for-profit credit facilities (required)
• Ability to lead discussions with clients during negotiations and act as primary lending representative on deal execution, leveraging senior leaders as appropriate (required)
• Knowledge of business and legal elements of credit agreements, and the ability to work with counsel and collaborate through document negotiations (required)
• Strong understanding of banking products, credit structures, and loan documentation.
• Ability to manage multiple deliverables and meet deadlines in a fast-paced environment.
• Strong written and verbal communication skills with the ability to synthesize complex information.
• Effective and polished presentation and communication skills, with the ability to collaboratively influence and challenge with impact (required)
• Ability to plan, multi-task, manage time effectively, and lead work independently with limited direction (required)

Tactical Skills

Financial & Credit Acumen (expert level)

• Demonstrates advanced understanding of governmental and not-for-profit accounting principles, including interpretation of Comprehensive Annual Financial Reports (CAFRs), audited financial statements, budgets, and interim reports.
• Analyzes revenue streams (tax base, state aid, tuition, grants), expenditure patterns, reserves, and liquidity to assess financial health and repayment capacity.
• Utilizes financial ratios and sector-specific metrics (e.g., coverage, leverage, liquidity, reserve levels, enrollment trends, pension obligations) to evaluate borrower strength and credit risk across municipalities and education institutions.

Sound Judgment (Expert Level)

• Evaluates credit requests within the context of public sector risk factors, including economic conditions, political considerations, governance structures, and funding dependencies.
• Applies informed, balanced decision-making to structure and recommend solutions that align with credit policy, risk appetite, and SLED portfolio strategy.
• Exercises strong judgment in identifying risks, mitigants, and appropriate escalation points throughout the underwriting and portfolio management lifecycle.

Communication (Expert Level)

• Clearly and concisely communicates complex financial and credit analysis to Relationship Managers, Credit Officers, and other stakeholders.
• Synthesizes large volumes of financial, operational, and demographic information into actionable insights and well-structured underwriting documentation.
• Maintains proactive and transparent communication with deal teams, ensuring stakeholders are informed of transaction progress, risks, and key developments.

Effective Transaction Management (Experienced Level)

• Manages SLED transactions across all stages, including Annual Reviews (AR), New Money Requests (NMR), Renewals (RWL), amendments, and approvals.
• Coordinates across Relationship Managers, Credit, and internal partners to ensure timely execution, adherence to policy, and high-quality deliverables.
• Maintains organization and prioritization across multiple transactions while meeting deadlines and ensuring a consistent client and partner experience.

Effective Risk Management (Including Loan Documentation) (Experienced Level)

• Identifies and assesses risks specific to municipal and not-for-profit borrowers, including revenue volatility, budget constraints, and external funding risks.
• Assigns and maintains accurate risk ratings, ensuring alignment with policy and timely updates based on borrower performance.
• Reviews and interprets loan documentation, including credit agreements, covenants, and reporting requirements, ensuring consistency with approved terms.
• Understands how structure (e.g., tenor, amortization, covenants, pledged revenues) mitigates risk within SLED transactions.
• Ensures documentation exceptions are appropriately identified, justified, and approved in accordance with credit policy.

Proactive Time Management (Expert Level)

• Effectively prioritizes competing underwriting and portfolio management responsibilities across a dynamic SLED deal pipeline.
• Anticipates deadlines related to AR