Associate, Asset Management

About the position

Northeast Bank is looking for motivated and talented individuals who want to make an impact in a growing company that cares about its employees, customers, and the communities it serves. The position involves providing oversight and asset management support for a portfolio of performing and non-performing bank assets as well as Bank originated loans with the objective of maximizing returns and minimizing losses within the portfolio.

Responsibilities

• Provide oversight and support for the Bank's purchased loan portfolio, including an initial written assessment of each asset acquired.
• Develop strategies to maximize income and diminish risk of loss in the future, recommending action plans to Senior Management and investment partners.
• Daily responsibilities include restructuring credit and repayment terms, developing strategies to better secure collateral, collecting and monitoring monthly payments, as well as taxes and insurance.
• Work with borrowers to obtain financial information and prepare written in-depth analysis on an annual or bi-annual basis with recommendations to protect and strengthen the investment.
• Provide oversight and support for the Bank's originated loan portfolio, monitoring monthly payments and payment of RE taxes and insurance.
• Conduct periodic credit underwriting assignments for loan portfolios under purchase consideration, including a review of available loan documentation and borrower analysis.
• Recommend bid price based on cash flow modeling and present analysis to loan investment committee.
• Successfully pass technical and regulatory examinations by the Company.

Requirements

• Bachelor's degree preferred.
• 2 to 5 years of experience in asset management, commercial loan workout and/or loan underwriting.
• Formal bank credit training a plus.
• Ability to work and thrive in a team environment.

Benefits

• Competitive compensation and benefits.
• Generous PTO.
• Hybrid work environment dependent on the role.