ZipRecruiter - Newburyport, MA
posted 18 days ago
Full-time - Mid Level
Newburyport, MA
About the position
The Portfolio Manager (PM) at Newburyport Bank is responsible for managing all aspects of commercial portfolio management related to assigned portfolio loans. This role involves attracting, developing, and cross-selling deposit and commercial banking relationships in the Greater Seacoast New Hampshire area. The PM collaborates with lenders and the Commercial Loan Administrator (CLA) to ensure high-quality credit administration and effective risk management.
Responsibilities
- Assist Lender(s) in managing the approval process for loans.
- Ensure renewals for lines of credit or maturing loans are approved/booked or extended prior to expiration/maturity.
- Ensure loan terms comply with credit policy and banking regulations.
- Analyze and track financial covenants outlined in legal documents.
- Identify covenant violations and manage the waiver process initiated by the Lender.
- Monitor construction projects and track borrowings versus remaining availability.
- Monitor portfolio for inconsistent grading and initiate grade changes when required.
- Draft Watched Asset Reports for loans downgraded below a 6 rating and adhere to quarterly reporting requirements.
- Prepare internal and external documents including term sheets, appraisal bid requests, and loan modifications.
- Establish and maintain relationships with current and prospective clients.
- Assist in customer correspondence including drafting proposal/commitment letters and renewal notifications.
Requirements
- Bachelor's Degree in accounting, finance, economics, or business administration.
- Minimum of 3 years of Commercial Credit/Banking and/or related experience.
- Ability to assess financial performance and risk, including identifying ways to mitigate risk to the Bank.
- Knowledge of commercial loan and deposit/treasury products.
- Excellent verbal and written communication skills.
