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Commercial Loan Portfolio Supervisor

2 months ago

Newburyport, Massachusetts, United States Newburyport Five Cents Savings Bank Full time

Newburyport Five Cents Savings Bank is a distinguished community financial institution dedicated to enhancing our team. We prioritize respect, fairness, and a steadfast commitment to the professional growth and development 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, nurturing, and cross-selling additional deposit and commercial banking relationships. The PM collaborates with the Lender and Commercial Loan Administrator (CLA) to ensure superior credit administration and risk management practices.

Key Responsibilities:

Portfolio Management and Loan Structuring:

  • Support Lender(s) in navigating the approval process, ensuring all necessary information is available for effective underwriting.
  • For lines of credit or maturing loans, guarantee that renewals are approved/booked or extended before expiration/maturity.
  • Confirm that loan terms comply with credit policies and banking regulations.
  • Ensure precision and consistency in loan documentation.
  • Analyze and monitor financial covenants as specified in legal agreements.
  • Identify covenant breaches and manage the waiver process as initiated by the Lender.
  • Oversee construction projects and track borrowings against remaining availability, ensuring compliance with the Bank's standards.
  • 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, applications, appraisal requests, call memos, commitment letters, post-closing memos, and loan modifications.
  • Support Lender(s) in managing their existing portfolio while assisting with ongoing sales and approval initiatives.

Client Support:

  • Establish and maintain relationships with current and prospective clients by aiding in the sales proposal process.
  • Assist in client correspondence, 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.

Equal Opportunity Statement: 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 military service.