Senior Manager or VP - Portfolio Management

Steel Partners • Newark, NJ

1d

About The Position

WebBank is seeking an experienced portfolio manager to oversee and manage the Bank’s Asset Finance loan portfolio which includes loans originated and retained by the Bank for Strategic Partners and loans provided to other specialty finance companies for whom WebBank is not the Issuer. You will primarily be responsible for (i) risk management and reporting for all asset-backed transactions post-closing which includes interfacing with borrowers and agents, (ii) driving the process for amendments, waivers and other requests from existing borrowers (iii) coordinating surveillance with credit and risk teams, running (at least) monthly portfolio management reviews, and (iv) presenting periodic portfolio reviews and updates to executive management. This is both a client-facing role and a key internal position that requires coordination and risk management of every position. This position will report to the Head of Asset Finance and work closely with VP’s leading other functional areas within the group.

Requirements

• Bachelor’s or Master’s Degree in Finance, Economics, MBA or STEM fields, or CFA
• 8 - 10 years’ experience in asset-backed bank lending, asset finance, or securitization portfolio management
• Strong working knowledge of loan agreements and other asset finance transaction documents and transaction structuring
• Excellent written and verbal communication and presentation skills
• Independent thinker, strong diagnostic skills, excellent attention to detail
• Strong working knowledge of Excel or other financial modelling software
• Intellectual curiosity and problem solver
• Collaborative, communicative team-player

Responsibilities

• Create, oversee, and manage reporting systems that track the Bank’s asset-backed exposures for both loans originated by the Bank for Strategic Partners and loans related to other specialty finance companies leveraging dashboard tools (Tableau, Excel, Power BI etc.) to provide senior management visibility into current trends and to help drive strategic results
• Review and work with asset-backed facility structures and legal documentation, including concepts relating to borrowing base, priority of payments, eligibility criteria, etc.
• Prepare periodic reporting for the team and senior management detailing the performance of portfolio positions, including utilization, asset performance and variance analyses, and covenant compliance etc and make recommendations to improve performance
• Take the lead on amendments, upsizes, changes to existing portfolio credits dealing directly with associated counterparties and prepare and present memorandums for internal loan committee approvals (liaising close with Credit team)
• Spearhead periodic (post-close) due diligence of Asset Finance counterparties and work closely with WebBank Credit and Risk teams to monitor individual facility performance; such due diligence includes (i) setting scopes and ensuring timely delivery of field exams / agreed-upon procedures and (ii) scheduling (at least) monthly check-ins with portfolio companies and in-person visits which may require travel or virtual sessions
• Coordinate with WebBank Credit and Risk teams to perform periodic surveillance of asset-backed exposures, including covenant tracking, cash flow projections, and updating financial metrics such as risk adjusted return and return on equity
• Assist deal structuring teams in documentation, closing and funding processes working with WebBank middle- and back-office functions
• Identify, research and communicate industry trends that may affect existing credits, including suggesting remedial actions

Benefits

• Generous paid time off plus paid parental leave
• Plans include an employer paid medical option, dental and vision coverage, plus we offer health savings accounts
• WebBank matches up to the first 6 percent of employee contributions and both the employee’s contributions and WebBank’s match are fully vested immediately
• Life insurance and long and short-term disability insurance plans are 100% employer paid
• WebBank provides reimbursement for classes needed to obtain certain degrees, up to $5,250 per academic year

What This Job Offers

• Job Type: Full-time
• Career Level: Senior