Newburyport Five Cents Savings Bank - Hampton Falls, NH
posted 5 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 must ensure that loan terms are compliant with credit policy and banking regulations, maintaining accuracy and consistency with loan documents. Additionally, the PM analyzes and tracks financial covenants outlined in legal documents, identifying covenant violations and managing 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 responsible for monitoring the portfolio to identify inconsistent grading and initiate grade changes when required. Drafting Watched Asset Reports when downgrading loans below a 6 rating and adhering to quarterly reporting requirements is also part of the role. The PM prepares internal and external documents including term sheets, Sage Works applications, appraisal bid requests, call memos, commitment letters, post-closing memos, and loan modifications. Furthermore, the PM assists Lenders in managing their existing portfolios and supports ongoing sales and approval efforts. 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.