VP, Team Leader Commercial Portfolio Management

Newburyport Bank•Newburyport, MA

10h

About The Position

Newburyport Bank is a community bank supported by the strength of our shared services organization, River Run, and banking affiliates, Pentucket Bank and Rollstone Bank and Trust. Together, we shape the evolution of community banking through innovation and strong partnerships, while preserving the personalized service our customers value. Here, you will discover opportunities that will guide you along your professional journey, and allows you to make a meaningful impact in your local community, as you join a team that champions integrity, collaboration, and continuous progress. Journey Well! The Team Leader manages a team of Commercial Portfolio Managers and all aspects related to the commercial portfolio management function. The TL-PM may also be responsible for supporting multiple lenders in the management of their respective loan portfolios. The TL-PM works with Credit Administration, Lenders and Commercial Loan Administrators (CLAs) to maintain high quality credit administration and risk management. Coaches the Commercial Portfolio Management team to ensure continued development and opportunities for growth and achievement and optimal performance. Assists Commercial Lenders in managing the approval process, ensuring all required information has been received for proper underwriting. Ensures renewals are approved/booked or extended prior to expiration/maturity for lines of credit or maturing loans. Ensures loan terms are compliant with credit policy and banking regulations. Ensures accuracy and consistency with loan documents. Analyzes and tracks financial covenants outlined in legal documents. Identifies covenant violations and manages waiver process when initiated by the Lender. Monitors construction projects and tracks borrowings versus remaining availability, confirming the project remains compliant with the Bank’s requirements. Monitors portfolio to identify inconsistent grading and initiates grade changes when required. Drafts Watched Asset Reports when downgrading loans below a 6 rating and adheres to quarterly reporting requirements. Drafts commentary on changes in performance or issues requiring further explanation, and during periodic financial and covenant review. Prepares internal and external documents including term sheets, Sageworks applications, appraisal bid requests, call memos, commitment letters, post-closing memos and loan modifications. Assists Lenders in all aspects of managing their existing portfolio, ongoing sales and approval efforts. Establishes and maintains relationships with current and prospective clients by assisting in the sales proposal process. Assists in customer correspondence including drafting proposal/commitment letters, Request for Information (RFI), covenant waivers, and renewal notifications.

Requirements

Bachelor’s degree in Accounting, Finance, Economics, or Business Administration.
Minimum of 5 years of Commercial Credit/Banking and/or related experience.
Minimum of 3 years of previous supervisory or management experience.

Responsibilities

Manages a team of Commercial Portfolio Managers and all aspects related to the commercial portfolio management function.
Responsible for supporting multiple lenders in the management of their respective loan portfolios.
Works with Credit Administration, Lenders and Commercial Loan Administrators (CLAs) to maintain high quality credit administration and risk management.
Coaches the Commercial Portfolio Management team to ensure continued development and opportunities for growth and achievement and optimal performance.
Assists Commercial Lenders in managing the approval process, ensuring all required information has been received for proper underwriting.
Ensures renewals are approved/booked or extended prior to expiration/maturity for lines of credit or maturing loans.
Ensures loan terms are compliant with credit policy and banking regulations.
Ensures accuracy and consistency with loan documents.
Analyzes and tracks financial covenants outlined in legal documents.
Identifies covenant violations and manages waiver process when initiated by the Lender.
Monitors construction projects and tracks borrowings versus remaining availability, confirming the project remains compliant with the Bank’s requirements.
Monitors portfolio to identify inconsistent grading and initiates grade changes when required.
Drafts Watched Asset Reports when downgrading loans below a 6 rating and adheres to quarterly reporting requirements.
Drafts commentary on changes in performance or issues requiring further explanation, and during periodic financial and covenant review.
Prepares internal and external documents including term sheets, Sageworks applications, appraisal bid requests, call memos, commitment letters, post-closing memos and loan modifications.
Assists Lenders in all aspects of managing their existing portfolio, ongoing sales and approval efforts.
Establishes and maintains relationships with current and prospective clients by assisting in the sales proposal process.
Assists in customer correspondence including drafting proposal/commitment letters, Request for Information (RFI), covenant waivers, and renewal notifications.