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Portfolio Manager, Middle Market
3 months ago
Portfolio Manager, Middle Market
If you’re looking for a meaningful career, you’ll find it here at Webster. Founded in 1935, our focus has always been to put people first--doing whatever we can to help individuals, families, businesses and our colleagues achieve their financial goals. As a leading commercial bank, we remain passionate about serving our clients and supporting our communities. Integrity, Collaboration, Accountability, Agility, Respect, Excellence are Webster’s values, these set us apart as a bank and as an employer.
Come join our team where you can expand your career potential, benefit from our robust development opportunities, and enjoy meaningful work
This Is What You Will Do
(Position Summary)
This position will be aligned with the Commercial Bank. Commercial Banking delivers solutions to a wide range of companies, investors, government entities, and other public and private institutions. We help our clients achieve their business and financial goals through our deep expertise in Commercial & Institutional Lending, Commercial Real Estate, Capital Markets, Capital Finance and Treasury Management. Our Wealth Management team pairs holistic wealth solutions, including tailored lending, with commercial banking services, helping our clients achieve their financial goals.
The
Director, Portfolio Management
role will work within the Commercial Banking Middle Market Division and will partner with portfolio and relationship managers to support (i) underwriting new commercial loans for private and publicly owned businesses and (ii) the ongoing portfolio management of existing lending relationships. Responsibilities will include conducting underwriting due diligence, financial analysis of borrowers and guarantors, preparation of internal credit memos, presentation of underwriting diligence and portfolio management results to credit committee, monitoring covenant compliance, risk ratings and credit quality of the portfolio, and other activities in support of the region's overall goals. Throughout the process the Portfolio Manager will interact with multiple internal and external stakeholders, including credit professionals, capital markets, company management, legal counsel, and operations personnel. The position will also have the opportunity to teach and mentor junior deal team members.
You Will Be Responsible For
(Major Duties and Responsibilities)
Underwriting
Lead underwriting due diligence and partner with relationship managers to produce deal screen and underwriting documents
Interface with clients and other stakeholders to facilitate underwriting process
Detail debt financings and company financials utilizing Excel and Webster’s credit management platform, Sageworks
Draft approval document narrative, thoroughly identify all risks and mitigating factors, document variances to policy/procedures, and assign accurate risk grade
Responsible for presenting underwriting memos to credit committee
Support legal documentation drafting and negotiations
Facilitate loan closing process with commercial loan operations
Portfolio Management
Review, spread, and maintain periodic financial statements, compliance certificates and borrowing base reports
Engage with borrowers' CFOs (or similar position) to get qualitative updates on performance
Ensure the timely completion of renewals, annual reviews, and interim analyses.
Ensure borrower is assigned an appropriate risk rating
Present internal portfolio review memos to senior credit executives at periodic meetings
Execute all amendments/waivers for existing borrowers
Maintain ticklers, covenants, and borrower credit files
Maintain customer information and data integrity on bank systems
Ensure compliance with all regulations, policies, and procedures
Other
Generate new ideas and recommendations for continuous process improvement
Represent Webster Bank as a brand ambassador at business and charitable events
Participate in special projects on an as-needed basis
You Will Need To Have
(EDUCATION, EXPERIENCE & SKILLS)
Education: Bachelor’s degree
Experience: 7-10 years of prior professional experience or equivalent; professional experience in a banking credit management position is preferred
Excellent analytic skills and attention to detail
Strong written and verbal communication skills
Strong competency in Microsoft Office suite – including Excel and Word; experience with financial modeling is required
Good interpersonal skills with the ability to interface with relationship managers, portfolio managers, credit officers, clients, and senior management
The ability to answer unstructured business questions and work independently to drive tasks to completion
Locations: Connecticut: Stamford; New York: Manhattan, White Plains, Jericho; New Jersey: Paramus; Option for hybrid schedule if deemed appropriate.
The estimated salary range for this position is $140,000 USD to $160,000 USD. Actual salary may vary up or down depending on job-related factors which may include knowledge, skills, experience, and location. In addition, this position is eligible for incentive compensation.
All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability or protected veteran status.
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