Title Portfolio Manager/Underwriter
Start Date 2016-10-11
Location Central New Jersey
Job Information

 

POSITION TITLE: Portfolio Manager/Underwriter

DEPARTMENT: Portfolio Management

LOCATION: Central New Jersey

REPORTS TO: SVP/Deputy Senior Credit Officer

FLSA Code: Exempt

POSITION: Perm -Only US Citizens and Green Card Holders

(To Apply Please click here)

If you are applicable for this position please contact Diane Katz directly: Diane.katz@primesoftinc.com

Summary:

The Portfolio Manager is responsible for the overall asset management and reporting for a portfolio of commercial loans, construction loans, loans to support the development of housing, other community facilities, small businesses and others. The Portfolio Manager also must be able to underwrite loans and support Underwriting and Business Development in strengthening relationships with clients. As part of Credit, the Portfolio Manager supports the achievement of institutional and overall Credit work plan goals.

Reporting Relationship:

The Portfolio Manager reports to the Deputy Senior Credit Officer and will work closely with the SVP/Senior Credit Officer, SVP/Credit Operations Manager, SVP/Senior Risk Officer, Underwriters and Business Developers in an effort to meet lending goals and objective. The Portfolio Manager will communicate with borrowers, third party lenders, attorneys and other external parties, as appropriate.

Major Duties and Responsibilities :

Loan Underwriting:

  • The Portfolio Manager Performs detailed credit analysis preceding the granting of a loan, based on credit information furnished by the borrower; such underwriting falls into several areas:
    • Commercial (or business) underwriting consists of the evolution of financial information provided by small businesses including analysis of the business balance sheet including tangible net worth, the ratio of debt to worth (leverage) and available liquidity(current ratio).  Analysis of the income statement typically includes revenue trends, gross margin, profitability, and debt service coverage.
    • Real estate underwriting- In evaluation of real estate loan, in addition to assessing the borrower, the property itself is scrutinized. Underwriters use the debt service coverage ratio to figure out whether the property is capable of redeeming its own value.

Asset Management:

Loan Monitoring – The Portfolio Manager will be responsible for the ongoing asset management of a portfolio loans, including developing a relationship with each borrower and conducting regular loan monitoring reviews. The Portfolio Manager will prepare Credit Reviews for each loan on a regular schedule to review overall asset quality, including performance against original underwriting expectations. Such reviews evaluate information including borrowers/sponsor financial statements, rent rolls, project status reports, and overall analysis of the credit condition of the borrower/sponsor, stress testing as informed by a complete understanding of CNB’s relationship with and exposure to the borrower. As needed, the Portfolio Manager will consult with the original Underwriter to obtain insight for analyzing the credit condition of the borrower/sponsor and/or project and additional information related to the borrower relationship.

Site visits – The Portfolio Manager will conduct regular site visits and prepare site visit reports for loans in his/her portfolio in accordance with Credit policies and procedures.

Loan Extensions and Modifications – For loans where the borrower is seeking an extension and or modification, the Portfolio Manager will work closely with the borrower to provide a preliminary assessment of the necessity and feasibility of such extension or modification, and communicate with the Deputy Senior Credit Officer. The Portfolio Manager will conduct an analysis of the credit and make a recommendation as to the extension or modification terms and conditions, if an extension or modification is deemed appropriate.

Non-performing Loans – the Portfolio Manager will provide support, as requested to the Deputy Senior Credit Officer in managing non-performing loans, including but not limited to conducting site inspections, appraisal reviews, and borrower or project financial analysis.

Reporting – the Portfolio Manager will be responsible for reporting on the overall portfolio, including and not limited to assessing asset quality, stress testing, industry and market analysis, asset allocation, reserves and non-performing loan analysis.

Projects – the Portfolio Manager may from time to time have an opportunity or be required to work on miscellaneous projects and initiatives related to either the credit functions or across the company as needed.

Policies and Procedures – the Portfolio Manager will be responsible for understanding, complying with, creating and recommending updates to the policies and procedures related to the Portfolio Management and Credit functions.

Customer Service – The Portfolio Manager will maintain a positive and professional relationship with our Client’s customers and business partners (which include third party lenders, attorneys and other external parties) by responding promptly for any and all requests in a responsive, consistent, accurate manner. Perform other related duties as assigned. Ensure compliance with the Banks Credit Policy and regulatory compliance standards.

Knowledge, Skills and Abilities

  • Experience in real estate-based or business lending, including credit analysis, due diligence and loan documentation

  • Proficiency in analyzing financials of nonprofit organizations, small businesses, and real estate operation (in particular, rental housing and community facilities).

  • Familiarity with federal, state, and local government funding sources for capital and operating needs of multi-family housing, special needs housing, and community facilities.

  • Working experience with both private sector financial institutions and public agencies.

  • Computer aptitude, including knowledge of Microsoft Office Suite programs, and other database software.

  • Excellent skills in managing multiple task requiring strong attention to detail.

  • High level of analytical and research expertise

  • Excellent leadership, interpersonal, team and communication skills (written and verbal)

  • Knowledge of banking regulations (OCC and FDIC)

  • Ability to work independently with limited supervision

  • Ability to establish credibility and rapport;

  • Ability to communicate and function professionally with all levels of personnel and business partners across the organization

  • Must stay current on operational, product, and system changes/enhancements, as well as demonstrate good risk management decisions

  • Able to take “full ownership” of issues until they are completely resolved

Educational and Other Requirements:

  • Undergraduate degree in a relevant area of study such as real estate, urban planning, business administration or finance.

  • Must be able to underwrite loans

  • Must understand community lending (grants from government)

  • Must be able to go out to the street with BD and sell loans

  • Relevant work experience in commercial lending function (commercial real estate, construction, small business lending, etc.) preferably with a community bank or community development financial institution

  • Credit training (formal or on-the-job) at a commercial bank, credit union or community development financial institution that is recognized and well regarded for its credit risk acumen

  • Experience with loan, legal and collateral documentation and compliance

  • High degree of self-motivation, dedication, creativity, and perseverance, including flexibility with time and willingness to accept a demanding (and personally satisfying) position.

  • Teamwork and time management skills

  • Travel is required and candidate must have a valid driver’s license.

Compliance Training: Must be willing to and successfully complete ongoing compliance training

If you are applicable for this position please contact Diane Katz directly: Diane.katz@primesoftinc.com 

(To Apply Please click here)