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Business Portfolio Management Specialist
2 months ago
Newburyport Five Cents Savings Bank is a distinguished community bank in the Greater Seacoast area, dedicated to enhancing our team. We value respect, fairness, and a steadfast commitment to the professional growth of our employees, customers, and community members.
We are seeking a Portfolio Manager (PM) to oversee all facets of commercial portfolio management related to assigned portfolio loans, while also focusing on attracting, developing, and cross-selling additional deposit and commercial banking relationships. The PM collaborates with the Lender and Commercial Loan Administrator (CLA) to ensure high standards of credit administration and risk management.
Key Responsibilities:
Portfolio Management and Loan Structuring:
- Support Lender(s) in managing the approval process, ensuring all necessary information is gathered for effective underwriting.
- For lines of credit or maturing loans, guarantee renewals are approved/booked or extended before expiration/maturity.
- Ensure loan terms comply with credit policies and banking regulations.
- Verify accuracy and consistency of loan documentation.
- Analyze and monitor financial covenants as specified in legal documents.
- Identify covenant violations and manage the waiver process as initiated by the Lender.
- Oversee construction projects, tracking borrowings against remaining availability to confirm compliance with the Bank's requirements.
- Review the portfolio to detect inconsistent grading and initiate necessary grade adjustments.
- Prepare Watched Asset Reports for loans rated below a 6 and adhere to quarterly reporting obligations.
- Draft commentary on performance changes or issues requiring further clarification during periodic financial and covenant reviews.
- Assist in facilitating both internal and external examinations.
- Prepare internal and external documentation, including term sheets, Sage Works applications, appraisal bid requests, call memos, commitment letters, post-closing memos, and loan modifications.
- Assist Lender(s) in managing their existing portfolio and support ongoing sales and approval efforts.
Customer Support:
- Establish and nurture relationships with current and prospective clients by aiding in the sales proposal process.
- Assist in customer communications, including drafting proposal/commitment letters, Requests for Information (RFI), covenant waivers, and renewal notifications.
- Support CLA with customer service inquiries or problem resolution.
- Assist CLA with overdraft decisions and follow-up as necessary.
Qualifications:
- Bachelor's Degree in accounting, finance, economics, or business administration.
- A minimum of 3 years of experience in Commercial Credit/Banking or related fields.
- Ability to evaluate financial performance and risk, including identifying strategies to mitigate risk to the Bank.
- Knowledge of commercial loan and deposit/treasury products.
- Exceptional verbal and written communication skills.
Physical Requirements:
- Prolonged periods of sitting at a desk and working on a computer.
- Must be able to lift up to 15 pounds occasionally.
Newburyport Five Cents Savings Bank is an Equal Opportunity/Affirmative Action Employer. All qualified applicants will receive consideration for employment without regard to race, color, ancestry, national origin, gender, sexual orientation, marital status, religion, age, disability, gender identity, results of genetic testing, or service in the military.
