SBIC Investment Officer III

TD Bank
Philadelphia, Pennsylvania (US)
Base plus annual bonus and benefits
29 Mar 2021
28 Apr 2021
Req ID: 297368BR
Employment Type
Full Time

Department Overview: The Community Capital Group is responsible for the management and supervision of the Community Reinvestment Act (“CRA”) investment functions for TD Bank US Holding Company including TD Bank, N.A. and TD Bank, USA.  In carrying out its duties, the Community Capital Group strives to make CRA qualified investments that create positive long-term impact in revitalizing communities and neighborhoods in market areas served by the Bank while at the same time providing a competitive return. 

Job Description: The Community Capital Group's SBIC Investment Officer III invests in Small Business Investment Companies (SBIC) and private welfare funds under an authorized annual budget as determined by the Community Reinvestment Act (CRA) Steering Committee for TD Bank, N.A. and within the permitted risk appetite of the Bank.  This role abides by the CRA Investment Policy; the investment guidelines and requirements of the CRA and the Office of the Controller of Currency (OCC); and, adhere to the requirements of the Volcker Rule.  The SBIC Investment Officer III is one of the principal lead underwriters throughout the equity investment process starting with managing the due diligence process for new or existing SBIC sponsors and culminating with the legal negotiation of Limited Partnership Agreements.  This individual will be the lead underwriter for the TD SBIC Impact Fund once it is licensed by the SBA.

Job Requirements:

  • Direct and evaluate co-investments for the TD Bank newly created SBIC co-investment fund to be named TD SBIC Impact Fund, LLC
  • Evaluates potential TD Bank equity investments in lower middle market credit, mezzanine or equity buyout SBIC funds and venture capital SBIC funds
  • Participates in all aspects of the investment diligence process from early stage assessment of a Fund Sponsor's PowerPoint presentation and/or PPM to investment committee approval and culminating with the execution and negotiation of the Subscription and Limited Partnership Agreements
  • Performs financial, operational and legal due diligence on potential fund investments
  • Conducts all analyses needed to make investment decisions, including a sample review of existing portfolio investments
  • Writes investment memos and present investment recommendations to the CRA Investment Committee
  • Negotiates limited partnership agreements in conjunction with outside legal counsel to achieve favorable terms for the Investors, including TD Bank
  • Evaluates Fund Sponsor performance on an ongoing basis to ensure standards for investment quality and satisfactory equity returns are within the Bank's tolerance levels
  • Maintains Fund Sponsor relationships, including the continuous monitoring of fund performance and downside protections for the Bank
  • Verifies that General Partners adhere to their limited partnership agreements and review General Partner requests for amendments and fund life extensions
  • Contributes to the achievement of the OCC's CRA investment testing goals through SBIC investments
  • Represents the Bank at industry trade conferences, volunteer organizations, and limited partner advisory and LP Board meetings
  • Targets investment with Sponsors who invest in underserved areas without sacrificing asset quality
  • Possesses personality traits that promote the existing team based atmosphere
  • Serves as a respected resource and thought leader within the entrepreneurial community
  • Assists in the mentorship and development of junior private equity professionals


  • Bachelor's degree or equivalent experience in Accounting, Finance or related business field required
  • CFA desirable but not required
  • 7-10+ years of related investment experience with lower middle market private equity funds is desired
  • Candidates must possess a strong knowledge of private equity markets and related federal regulations for Bank investors, including CRA, Internal Revenue Service, OCC, Volcker Rule and other regulations

Preferred Qualifications:

  • Strong underwriting & documentation experience
  • Fund investment / Direct investment experience
  • SBIC Program Experience
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