Managed Assets Portfolio Manager I in Lynn, MA at Eastern

Date Posted: 7/29/2020

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 Portfolio Manager/Managed Assets is to assist and work collaboratively within the Managed Asset Group to reduce the risk profile of the classified commercial credits.

Incumbent supports Managed Assets Relationship Managers to reduce credit exposure to the Bank. Incumbent will complete Managed Asset Plans and coordinate the regular reporting and covenant tracking on workout credits.  Incumbent will work with limited supervision.
Major responsibilities include:
•Manage monthly/quarterly reporting
•Oversee and coordinate completion of Managed Action Plans (MAPs) reporting
•Assist in impairment process
•QC the monthly Watch list reporting  
•Assist in completion of Large Substandard Report 
•Manage Financial Reporting and Covenant Tracking
•Review overdue financials and exceptions monthly
•Coordinate updates/corrections database
•Report regularly on status to Relationship Manager and Team Leader
•Manage Credit analysts and renewal/approval backlog
•Monitor all expiration dates 90-days ahead
•Schedule analyst workflow and priorities
•Provide senior credit analyst support as needed
•Underwrite credits as needed
•Monitor and track all conforming ABL credits and BBCs
•Evaluate collateral position monthly
•Prepare monthly conformity chart on each credit
•Coordinate loan operations availability per monthly BBC
•Coordinate field exams, summarize exam results for committee
•Provide Backup to Relationship Managers/Relationship Administrators as needed
•Assist the team during vacations/absences as necessary
•Approve overdrafts & wires as necessary
•Provide service support as necessary
•Assist in SBA liquidation process as necessary
•Credit Risk Review liaison
•Oversee and coordinate responses to outstanding items/issues
•Monitor action steps for remediation
•Work with Senior Credit Officer as needed re: policy, etc.

Job Requirements

Education and Experience 
•Formally credit trained.
•Bachelor’s degree, or equivalent plus 1 to 3 years of work out experience, commercial lending or portfolio management or equivalent.
•A sound working knowledge of commercial loan analysis and/or the legal collection process.
•Evidence of strong analytical and sound credit judgment, outstanding oral and written communication skills.
•Detailed oriented, well organized and able to work independently and consistently.  
•Possess strong and persuasive customer service skills.
•Strong PC skills required.