Associate, Asset Management

Northeast Bank•Portland, ME

16h•$60,000 - $80,000

About The Position

Provide 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. The role supports purchased and originated loan portfolios and may also include responsibility for Community Banking or Consumer Banking portfolios. It includes periodic credit underwriting assignments for loan portfolios being considered for purchase and requires successfully passing the Company’s technical and regulatory examinations. The position can be based in Lewiston or Portland, Maine. Northeast Bank describes itself as a full-service community bank and national commercial real estate lender, and notes that it offers a hybrid work environment dependent on the role.

Requirements

Two to five years of experience in asset management, commercial loan workout, and/or loan underwriting.
Ability to work and thrive in a team environment.
Ability to remain in a stationary position for long periods of time.
Ability to occasionally lift up to 20 pounds.
Ability to consistently operate a computer and other office equipment, such as a calculator, copy machine, and printers.
Ability to express or exchange ideas with co-workers, customers, and vendors.

Nice To Haves

Bachelor’s degree preferred.
Formal bank credit training is a plus.

Responsibilities

Provide oversight and support for the Bank’s purchased loan portfolio, including preparing an initial written assessment and strategy for each acquired asset to maximize income and diminish future risk of loss.
Recommend ongoing action plans to Senior Management and investment partners.
For purchased loans, restructure credit and repayment terms; develop strategies to better secure collateral; collect and monitor monthly payments, taxes, and insurance; obtain borrower financial information; and prepare in-depth written analyses annually or bi-annually with recommendations to protect and strengthen investments.
Provide oversight and support for the Bank’s originated loan portfolio by monitoring monthly payments, real estate taxes, and insurance; obtaining borrower financial information; and preparing annual written analyses with recommendations to protect and strengthen investments.
As assigned, support the Community Banking Portfolio by collecting and monitoring monthly payments, taxes, and insurance; obtaining borrower financial information; and preparing small-loan credit underwriting analyses and annual commercial relationship reviews with recommendations to protect and strengthen investments.
As assigned, support the Consumer Banking Portfolio by monitoring and collecting monthly payments and monitoring real estate taxes and insurance; restructuring credit and repayment terms; working with third parties on foreclosure activity, bankruptcies, and repossessions; completing daily and monthly consumer reporting; and handling other general tasks.
Perform periodic credit underwriting for loan portfolios under purchase consideration, including reviewing available loan documentation, analyzing borrowers, guarantors, and tenants, recommending bid prices based on cash flow modeling, and presenting analyses to the loan investment committee.
Successfully pass the Company’s technical and regulatory examinations.