Senior Director Treasury

At Sunrise Senior Living, we believe meaningful work starts with purpose. Our team members are passionate about making a positive difference in the lives of residents every day.

The Senior Director Treasury leads construction loan negotiations and public municipal bond issuance documentation for Sunrise Senior Living, the largest developer in senior housing and the largest premium senior housing operator. This role serves as the company's primary debt strategist, partnering with construction lenders, bond underwriters,

bond counsel and rating agencies to structure and execute financing for the development and recapitalization of senior living communities as the company enters a period of accelerated growth.

Essential Duties

As a part of the Sunrise team, supporting our Mission, Principles of Service and Core Values is a fundamental part of this job. Our foundational belief is the sacred value of human life. The unique responsibilities for this role include but are not limited to the essential functions listed as follows:

Construction Loan Negotiations

• Own end-to-end negotiation strategy for construction loans, credit facilities and construction-to-permanent financing supporting the development pipeline.
• Negotiate critical terms, including interest rates, loan draws and holdbacks, completion guarantees, construction covenants, permanent conversion mechanics, coverage tests, collateral and guarantees and default provisions.
• Evaluate competing lender proposals and recommend optimal financing structures based on cost, flexibility and construction risk allocation.
• Coordinate with Development, Finance, and Legal to validate construction budgets, schedules and occupancy assumptions.
• Monitor post-closing draw approvals, covenant compliance and permanent-phase readiness.

Municipal Bond Issuance Documentation

• Lead preparation and negotiation of public municipal bond documentation for new construction muni-bonds on behalf of not-for-profit property owners, with Sunrise serving as project sponsor, developer, manager and owner of sub-bonds.
• Oversee the bond indenture (including construction fund provisions), official statement accuracy, bond purchase agreements, security documents and tax-exempt structure.
• Manage redlines and issue tracking across bond counsel, disclosure counsel, underwriters and internal teams.
• Ensure documentation reflects construction risks, completion requirements, occupancy ramp assumptions and stabilization triggers.
• Own continuing disclosure compliance throughout the issuance process and post-closing.

Construction-to-Permanent Conversion

• Monitor construction-phase covenants and draw mechanics.
• Coordinate completion certification and conversion condition validation.
• Manage rate conversion, amortization reset and refinancing optionality.
• Lead the transition from construction lender to permanent debt structure, and/or facilitate a sale process to a buyer where Sunrise may also serve as a Joint Venture (JV) partner and continuing property manager.

Financial Modeling and Strategy

• Model construction versus permanent loan alternatives and refinancing economics.
• Analyze debt service coverage sensitivities tied to occupancy ramp, construction timelines and rate scenarios.
• Provide executive recommendations on financing structure, timing and capital allocation.

Relationships and Coordination

• Build strong internal relationships with Development, Mergers and Acquisitions (M&A), Asset Management, Legal and Accounting.
• Serve as the primary treasury contact for construction lenders, bond underwriters, and permanent loan partners on covenant compliance, amendments and refinancing opportunities.
• Coordinate with property owners and Limited Partner (LP) investors on debt and refinancing strategy, maintaining ongoing dialogue on debt management and refinancing readiness.
• Maintain compliance in assigned required training and all training required by state/province or other regulating authorities as applicable to this role to ensure that Sunrise standards are always met.
• Perform other duties as assigned.

Core Competencies

• Construction Debt Mastery — draws, holdbacks, completion guarantees, phase conversions, construction covenants
• Municipal Bond Documentation — indentures, official statements, continuing disclosure, rating agency coordination
• Negotiation Leadership — strategic structuring with lenders, underwriters and counsel
• Financial Rigor — modeling, stress-testing, covenant compliance analysis
• Project Management — documentation control, redline tracking, multi-party coordination

Experience and Qualifications

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed throughout this job description are representative of the knowledge, skills, and abilities required.

• Bachelor's degree in finance, accounting, real estate or a related field
• 12+ years of treasury, investment banking, or real estate project finance experience, including 5+ years in construction lending or municipal bond financing
• Expertise in construction loan negotiations, including loan structuring, draw mechanics, completion guarantees and construction-to-permanent conversions
• Proven track record with public municipal bond issuance documentation, including indentures, official statements, continuing disclosure and bond counsel coordination
• Deep knowledge of debt documentation, including covenants, security concepts, default provisions and completion guarantees
• Strong financial modeling and sensitivity analysis capabilities
• Excellent negotiation, project management and multi-stakeholder coordination skills
• Ability to communicate complex transactions clearly to executive leadership, the Board, lenders and rating agencies

Preferred Qualifications

• Senior living or healthcare real estate development experience, with familiarity in occupancy dynamics, staffing models and lease structures
• Experience with construction-to-permanent financing and occupancy ramp management
• Background in tax-exempt municipal finance and nonprofit healthcare structures
• Strong existing relationships with construction lenders, bond underwriters and rating agencies in senior housing.
• Professional credentials (CFA, CPA)
• MBA or other advanced degree

Ready to take the next step and make a bigger impact than you ever imagined? As part of our team, you will help brighten the future for everyone at Sunrise and beyond. That is why we make it a priority to celebrate the unique ways you bring moments of togetherness and joy to everyone you serve. And when combined with the support, benefits, and growth opportunities we offer, the result is a career that PositivelyShines with everything you need to reach your goals – at work and in your life.

We also offer benefits and other compensation that include:

• Medical, Dental, Vision, Life, and Disability Plans

• Retirement Savings Plans

• Employee Assistant Program / Discount Program

• Paid time off (PTO), sick time, and holiday pay

• myFlexPay offered to get paid within hours of a shift

• Tuition Reimbursement

• In addition to base compensation, Sunrise may offer discretionary and/or non-discretionary bonuses. The eligibility to receive such a bonus will depend on the employee’s position, plan/program offered by Sunrise at the time, and required performance pursuant to the plan/program.

• Some benefits have eligibility requirements

Sunrise Senior Living is an equal opportunity employer and is committed to diversity and inclusion in the workplace.