Newburyport Five Cents Savings Bank - Pelham, AL
posted 4 months ago
Newburyport Bank is a premier community bank in the Greater Seacoast looking to expand our team. We are hiring a Portfolio Manager (PM) to handle all aspects of commercial portfolio management as it relates to assigned portfolio loans, together with attracting, developing, and cross-selling other deposit and commercial banking relationships. The PM works closely with the Lender and Commercial Loan Administrator (CLA) to maintain high-quality credit administration and risk management. The role of the Portfolio Manager (PM) is crucial in managing the approval process, ensuring that all required information has been received for proper underwriting. For lines of credit or maturing loans, the PM ensures that renewals are approved/booked or extended prior to expiration/maturity. The PM is responsible for ensuring that loan terms are compliant with credit policy and banking regulations, and for maintaining accuracy and consistency with loan documents. Additionally, the PM analyzes and tracks financial covenants outlined in legal documents, identifies covenant violations, and manages the waiver process when initiated by the Lender. The PM also monitors construction projects and tracks borrowings versus remaining availability, confirming that the project remains compliant with the Bank's requirements. They are tasked with monitoring the portfolio to identify inconsistent grading and initiate grade changes when required. The PM drafts Watched Asset Reports when downgrading loans below a 6 rating and adheres to quarterly reporting requirements. They also draft commentary on changes in performance or issues requiring further explanation during periodic financial and covenant reviews. Furthermore, the PM assists in facilitating internal and external examinations and prepares various internal and external documents including term sheets, Sage Works applications, appraisal bid requests, call memos, commitment letters, post-closing memos, and loan modifications. In terms of customer support, the PM establishes and maintains relationships with current and prospective clients by assisting in the sales proposal process. They assist in customer correspondence, including drafting proposal/commitment letters, Requests for Information (RFI), covenant waivers, and renewal notifications. The PM also assists the CLA with customer service issues or problem resolution, as well as with overdraft decisions and follow-up as needed.