Underwriter / Portfolio Manager - Community Development

Citizens Financial Group, Inc.•Boston, MA

47d•Hybrid

About The Position

The Community Development Portfolio Manager II position is responsible for prudent underwriting and effective credit and risk administration with particular emphasis on adherence to credit policy and requirements, financial analysis/modeling, risk evaluation, on-going portfolio maintenance activities, and client support for an assigned portfolio of existing credits and prospects primarily of medium to higher complexity. Responsible for ensuring overall portfolio performance and asset quality remains strong and, when necessary, surfaces issues, proposes and collaborates with others on strategies and actions to limit risk and loss to the Bank. Will monitor the performance of existing borrowers within assigned portfolio and ensure compliance with financial covenants. Responsible for performing the functions of the position with only periodic oversight and is expected to perform with minimal supervisory intervention. Evaluate debt opportunities for suitability with respect to Community Development goals, underwriting standards, and credit policy. Collaborate with RM, as needed, in preparation of TOS and commitment letter. Takes lead in underwriting process including thorough, sound risk assessment, CPS preparation and compliance with credit policy, including appropriate disclosure of exceptions. Effectively balances being thorough with being concise. Exhibits knowledge of a broad range of loan terms and conditions and understanding of loan documentation. Experience in understanding and structuring complex capital stacks, including tax credits, public grant and subsidy funding sources, including but not limited to block grants (HOME/CDBG) and HUD subsidy support (ie Section 8). Portfolio will include a high concentration of commercial real estate construction loans. Ongoing portfolio responsibilities will include approving monthly construction loan draws and monitoring development budget for adequacy. Works in conjunction with Relationship Management to secure credit approval for all proposals. Proactively recognizes potential credit issues and collaborates with RM to articulate appropriate mitigants. Consistently adheres to all regulatory compliance requirements. Takes lead, working with RM, to negotiate loan documents and ensure loans are closed in accordance with approvals. Specific tasks may include Running financial models using a variety of formats/systems, preparing CPS/T&C/Appendices for new credit and renewal requests, Sponsor/Guarantor analyses, completion of regular compliance checks and reviewing Sources and Uses/Flow of Funds). Portfolio and Risk Management Oversees assigned portfolio of credits, anticipates portfolio problems, identifies and develops solutions, handles multiple demands and competing priorities, meets deadlines and schedules associated with maintaining portfolio compliance with credit and risk policies. May audit loans post closing to ensure documentation is in accordance with approval. Actively and effectively manages assigned portfolio including, but not limited to: Completing annual project and sponsor reviews; proactive proper completion and validation of credit grading models; oversees scheduled (monthly/ quarterly) covenant and financial reporting monitoring requirements; initiating follow up action in conjunction with RM as necessary; tracking of delinquency, exceptions, matured loans and collateral monitoring. Effectively maintains high quality credit file documentation. Manages a portfolio of medium to high complexity credits, with complex organization structures, documentation, and/or collateral structures. May be responsible for some larger exposures. Anticipates portfolio/credit problems and takes action to develop solutions in partnership with RM or PM TL.

Requirements

Bachelor's degree required: Business administration, finance, accounting, and/or economics preferred.
8+ years of experience and exhibited competency in financial analysis and credit structuring, understanding, and applying credit policy, and credit monitoring and risk administration practices.
Prior portfolio management experience to include proposing credit and covenant structures and documenting loans.
Commercial Real Estate experience - debt, equity, or development - experience is preferred.
Tax Advantaged Investments
Strong verbal and written communications and interpersonal skills combined with ability to multitask and function under pressure to meet deadlines.
Competency in Office products (Word, Excel, Power Point), Argus and spread sheet modeling.

Nice To Haves

Low Income Housing Credit (LIHTC) is highly preferred.
Historic Tax Credit (HTC) and New Market Tax Credit (NMTC) a benefit

Responsibilities

prudent underwriting
effective credit and risk administration
adherence to credit policy and requirements
financial analysis/modeling
risk evaluation
on-going portfolio maintenance activities
client support for an assigned portfolio of existing credits and prospects primarily of medium to higher complexity
ensuring overall portfolio performance and asset quality remains strong
surfaces issues, proposes and collaborates with others on strategies and actions to limit risk and loss to the Bank
monitor the performance of existing borrowers within assigned portfolio and ensure compliance with financial covenants
Evaluate debt opportunities for suitability with respect to Community Development goals, underwriting standards, and credit policy
Collaborate with RM, as needed, in preparation of TOS and commitment letter
Takes lead in underwriting process including thorough, sound risk assessment, CPS preparation and compliance with credit policy, including appropriate disclosure of exceptions
Exhibits knowledge of a broad range of loan terms and conditions and understanding of loan documentation
Experience in understanding and structuring complex capital stacks, including tax credits, public grant and subsidy funding sources, including but not limited to block grants (HOME/CDBG) and HUD subsidy support (ie Section 8)
approving monthly construction loan draws and monitoring development budget for adequacy
Works in conjunction with Relationship Management to secure credit approval for all proposals
Proactively recognizes potential credit issues and collaborates with RM to articulate appropriate mitigants
Consistently adheres to all regulatory compliance requirements
Takes lead, working with RM, to negotiate loan documents and ensure loans are closed in accordance with approvals
Running financial models using a variety of formats/systems
preparing CPS/T&C/Appendices for new credit and renewal requests
Sponsor/Guarantor analyses
completion of regular compliance checks and reviewing Sources and Uses/Flow of Funds
Oversees assigned portfolio of credits, anticipates portfolio problems, identifies and develops solutions, handles multiple demands and competing priorities, meets deadlines and schedules associated with maintaining portfolio compliance with credit and risk policies
May audit loans post closing to ensure documentation is in accordance with approval
Completing annual project and sponsor reviews
proactive proper completion and validation of credit grading models
oversees scheduled (monthly/ quarterly) covenant and financial reporting monitoring requirements
initiating follow up action in conjunction with RM as necessary
tracking of delinquency, exceptions, matured loans and collateral monitoring
Effectively maintains high quality credit file documentation
Manages a portfolio of medium to high complexity credits, with complex organization structures, documentation, and/or collateral structures
Anticipates portfolio/credit problems and takes action to develop solutions in partnership with RM or PM TL