Associate, Portfolio Management Middle Market Banking

Banco Santander•Boston, MA

About The Position

The Associate, Portfolio Management role is within Santander’s Commercial Banking Middle Market division. The associate partners with portfolio and relationship managers to underwrite new commercial loans for privately and publicly owned businesses and manage existing lending relationships. The work includes underwriting due diligence, borrower and guarantor financial analysis, preparing internal credit memoranda, presenting underwriting and portfolio-management findings to credit committees, and monitoring covenant compliance, risk ratings, and portfolio credit quality. The role involves collaborating with internal and external stakeholders, including credit professionals, capital markets, company management, investment bankers, legal counsel, and operations personnel. It also offers the opportunity to teach and mentor junior deal-team members. The associate is expected to support regional goals and comply with applicable regulations, policies, and procedures. The position requires a bachelor’s degree in a related field or equivalent demonstrated through a combination of work experience, training, military service, or education. The listed salary range is $80,625 to $125,000 per year. Applicants must be legally authorized to work in the United States full-time without employer sponsorship.

Requirements

Bachelor’s degree in a related field, or equivalent demonstrated through a combination of work experience, training, military service, or education.
At least 5 years of experience in credit structuring and underwriting and cross-selling.
Strong analytical skills and proficiency with financial statement modeling.
Strong credit skills and the ability to evaluate the strengths and weaknesses of a wide variety of credits.
Ability to produce high-quality underwriting documents with concise, well-reasoned analysis under tight time constraints.
Ability to work independently and proactively address the needs of an assigned portfolio.
Excellent interpersonal, team-building, and communication skills.
Thorough understanding of regulations governing financial products and services.
Proficiency with Microsoft Office.
Legally authorized to work in the United States on a full-time basis without employer sponsorship.

Nice To Haves

Formal credit training program.
Established work history or equivalent demonstrated through a combination of work experience, training, military service, or education.

Responsibilities

Lead underwriting due diligence and partner with relationship managers and junior deal-team members to produce deal-screen and underwriting documents.
Interface with clients and other stakeholders to facilitate the underwriting process.
Detail debt financings and company financials using Excel and Webster’s credit management platform, Sageworks.
Perform sensitivity analysis and model projected cash flows.
Draft approval-document narratives, identify risks and mitigating factors, document policy or procedure variances, and assign accurate risk grades.
Present underwriting memoranda to the credit committee.
Support legal-document drafting and negotiations.
Facilitate the loan-closing process with commercial loan operations.
Review, spread, and maintain periodic financial statements, compliance certificates, and borrowing-base reports.
Engage with borrowers’ CFOs or similar contacts to obtain qualitative performance updates.
Listen to annual or other interim lender-update calls and ask questions when appropriate.
Ensure timely completion of renewals, annual reviews, and interim analyses.
Ensure borrowers are assigned appropriate risk ratings.
Present internal portfolio-review memoranda to senior credit executives at periodic meetings.
Execute amendments and waivers for existing borrowers.
Maintain ticklers, covenants, and borrower credit files.
Maintain customer information and data integrity on bank systems.
Ensure compliance with regulations, policies, and procedures.
Teach and mentor junior deal-team members.