Northeast Bank - Lewiston, ME
posted 2 months ago
Northeast Bank is seeking a dedicated professional to provide management oversight for a portfolio of performing bank assets and bank-originated loans. The primary objective of this role is to maximize returns while minimizing losses within the portfolio. The successful candidate will be responsible for conducting initial written assessments of each asset acquired, which will include developing strategies aimed at maximizing income and reducing the risk of loss in the future. These action plans will be presented to Senior Management and investment partners on an ongoing basis. Daily responsibilities will encompass restructuring credit and repayment terms, developing strategies to secure collateral more effectively, and monitoring monthly payments, taxes, and insurance. The role also involves working closely with borrowers to obtain necessary financial information and preparing comprehensive written analyses on an annual or bi-annual basis, along with recommendations to protect and strengthen the investment. In addition to managing the purchased loan portfolio, the candidate may also oversee the bank's originated loan portfolio, which includes similar daily responsibilities such as monitoring payments and conducting annual reviews of commercial term notes. The role may also involve specific assignments or shared responsibilities for managing the Community Banking Portfolio, which includes negotiating and structuring small commercial loans, preparing credit underwriting analyses, and handling loan closings. Periodic credit underwriting assignments for loan portfolios under consideration will also be part of the responsibilities, requiring a thorough review of loan documentation and borrower analysis. The candidate must successfully pass technical and regulatory examinations as required by the company.