Eastern Bank - Lynn, MA
posted 4 months ago
The Managed Assets Portfolio Manager II will play a crucial role within the Managed Asset Group, focusing on reducing the risk profile associated with classified commercial credits. This position requires collaboration with Managed Assets Relationship Managers to effectively mitigate credit exposure to the Bank. The incumbent will be responsible for completing Managed Asset Plans and ensuring regular reporting and covenant tracking on workout credits. The role demands a high level of independence, as the incumbent will work with limited supervision while managing various tasks and responsibilities. Key responsibilities include managing monthly and quarterly reporting, overseeing the completion of Managed Action Plans (MAPs) reporting, and assisting in the impairment process. The Portfolio Manager will also be responsible for quality control of the monthly Watch list reporting and the completion of the Large Substandard Report. Financial reporting and covenant tracking will be a significant part of the role, requiring the review of overdue financials and exceptions on a monthly basis. The incumbent will coordinate updates and corrections in the database and report regularly on the status to the Relationship Manager and Team Leader. In addition to these responsibilities, the Portfolio Manager will manage credit analysts and oversee the renewal and approval backlog. Monitoring expiration dates 90 days ahead and scheduling analyst workflow and priorities are essential tasks. The role also includes providing senior credit analyst support as needed, underwriting credits, and monitoring all conforming Asset-Based Lending (ABL) credits and Borrowing Base Certificates (BBCs). The incumbent will evaluate collateral positions monthly and prepare a monthly conformity chart for each credit. Coordination of loan operations availability per monthly BBC and field exams will also be part of the responsibilities, along with summarizing exam results for committee review. The Portfolio Manager will provide backup support to Relationship Managers and Relationship Administrators as necessary, assist during vacations or absences, and approve overdrafts and wires as needed. Service support and assistance in the Small Business Administration (SBA) liquidation process will also be required. The role involves liaising with Credit Risk Review and overseeing responses to outstanding items or issues, as well as monitoring action steps for remediation. Collaboration with the Senior Credit Officer regarding policy matters will also be necessary.