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Managed Assets Relationship Manager III in Lynn, MA at Eastern

Date Posted: 2/15/2019

Job Snapshot

Job Description

When you join Eastern Bank, you join the largest and oldest mutual bank in the country. We pride ourselves in having knowledgeable and experienced professionals that can provide the expertise, personal attention and service our customers deserve.
As the fourth-largest full-service commercial bank in Greater Boston, we are able to offer you unique opportunities for career growth throughout the organization, as well as a competitive compensation and benefits program.
As an inclusive company, we work to ensure that our valued employees are treated fairly, recognized for their individuality, and encouraged to reach their fullest potential. These values have earned us a reputation as a great place to work and provide a strong reason why you should consider a career with us.

The SVP Relationship Manager will be responsible for handling a portfolio of existing commercial banking relationships in the Managed Assets Department.
Key components of these responsibilities include:

Portfolio Management

  • Manage a commercial portfolio of criticized / non-performing assets to better secure collateral and to facilitate collection.  
  • Work with the largest and highest complexity loans.  
  • Understands loan documentation requirements and procedures. 
  • Maintain compliance and manage exposure to risk by performing financial analysis, collateral evaluation and documentation review. 
  • Recommend approval of potential restructures and modifications to the appropriate credit authority.  
  • Coordinate the liquidation of assets including residential and commercial real estate, equipment, inventory, receivables, life insurance and vehicles.Coordinate payment and collateral deficiencies with borrower.
  • Evaluate collateral, loan documentation and financial information to determine a borrower’s individual loan management.  
  • Make necessary judgments to protect the bank’s interest and achieve maximum recovery. 
  • Interact with internal and external legal counsel to develop collection strategies.
  •  Manage legal and other expenses associated with the collection and liquidation of troubled loans.
Internal Compliance/Reporting

  • Responsible for the ongoing reporting including the ensuring completion of covenant compliance monitoring, regular MAP reporting and impairment reviews as necessary.  
  • The incumbent will be expected to assist in the preparation of the Large Substandard Report and attend the quarterly senior management (Credit Policy) meetings.
Liquidation Responsibilities

  • Responsible for compliance with rules of SBA SOPs for loan servicing and liquidation of the SBA criticized and classified commercial loans within the portfolio.
  • Essential duties include the preparation and submission of litigation plans and repurchase requests, the compilation and submission of 10 Tab report and the preparation and submission of wrap up reports to the SBA.
  • Oversees OREO and Note sales, seeking to minimize cost and maximize recovery  to the Bank in accordance with regulatory requirements.


Job Requirements

  • Extensive problem loan management, workout experience and related negotiation skills.
  • Ability to solve complex problems.
  • Incumbent should be able to excel with integrity in an entrepreneurial, team-oriented environment.
  • Proficient/computer literate in Microsoft Word and Excel and Argus with the willingness/ability to learn new software as necessary.
  • Incumbent needs to have the ability to travel to meet clients and attorneys and inspect assets.
  • Most travel is within Route 128, southeastern MA and southern NH.