Newburyport Five Cents Savings Bank is looking for a Portfolio Manager to manage all aspects of Commercial Portfolio management for an assigned portfolio of loans. You will collaborate closely with Lenders and Commercial Loan Administrators to maintain high-quality credit administration and robust risk management, upholding the Bank's commitment to integrity and personalized service.
What You'll Do
- Serve Commercial Lenders by managing the approval process, ensuring all information is received for proper underwriting.
- Ensure renewals are approved and booked prior to expiration for lines of credit or maturing loans.
- Ensure loan terms comply with credit policy and banking regulations, maintaining accuracy and consistency in documents.
- Analyze and track financial covenants outlined in legal documents, identify violations, and manage the waiver process.
- Monitor construction projects, tracking borrowings versus availability to ensure compliance with Bank requirements.
- Monitor the portfolio to identify inconsistent risk ratings and initiate necessary changes.
- Draft Watched Asset Reports when downgrading loans below a 6 rating and adhere to quarterly reporting requirements.
- Draft commentary on changes in performance or issues requiring explanation during periodic financial reviews.
- Facilitate internal and external examinations.
- Prepare internal and external documents, including term sheets, applications, commitment letters, and loan modifications.
- Serve Lenders in managing their existing portfolio, ongoing sales, and approval efforts.
- Establish and maintain relationships with current and prospective clients through engagement with Lenders.
- Align with Commercial Loan Administrators regarding overdraft decisions and follow-ups.
- Actively stay current on all Bank products, services, procedures, policies, and regulatory requirements.
- Ensure adherence to federal and state laws, regulations, and bank policies to minimize risks and safeguard the Bank's interests.
- Verify transactions and account balances for compliance with policies and regulations, including the Bank Secrecy Act (BSA).
What We're Looking For
- A Bachelor’s degree is required.
- At least 3 years of credit experience.
- Proven commercial credit skills demonstrated through prior experience.
- Basic knowledge of commercial deposit and treasury products.
- Demonstrated proficiency with standard office software (word processing, spreadsheet, presentation, and mail applications).
- Excellent oral and written communication skills.
- Professional demeanor and maturity to work closely with customers, employees, vendors, and board members.
Nice to Have
- A major in accounting, finance, economics, or business administration is preferred.
- Basic prior experience with loan origination software (LOS) is preferred.
Technical Stack
- Office software (word processing, spreadsheet, presentation, mail)
- Loan origination software (LOS)
Newburyport Bank is an Equal Opportunity Employer and 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.
