Portfolio Manager I - Commercial Real Estate at Salem Five Cent Savings Bank in Salem, Massachusetts

Job Description:

 

Salem Five is a growing regional financial services organization with a rich history of over 160 years.  As an independent bank, we are deeply rooted in the communities we serve and offer our employees successful and rewarding careers.
 
This position requires the ability to work in the Salem, MA offices.
 
Salem Five has more than 30 retail banking branches throughout Essex, Middlesex, Norfolk and Suffolk counties, strong business banking capabilities, an Insurance division, a Wealth Management & Trust organization and a Mortgage Company that has provided homeownership to generations of families.
 

Salem Five believes deeply in supporting the communities in which we reside. Donations through our Charitable Foundation or events at the branch or location-level are an important part of our DNA. We would not be the company we are without our commitment to businesses and organizations that help the region thrive and to our employees. Come see what we’re all about. 

JOB DUTIES AND RESPONSIBILITIES include, but are not limited to the following: 

• Maintain and service a commercial loan portfolio assigned by Team Leader.


• In concert with Lender, prepare and organize required reports, file comments, annual reviews, memos, and any other necessary documentation on a timely basis for designated relationships.


• Work with Lenders to cross- sell products and services to existing relationships.


• Promote the Bank's presence through active participation and attendance at various trade events.


• Responsible for performing deal screens across assigned commercial portfolio, in accordance with Bank pipeline demands. Compliance with State Regulatory guidelines and Salem Five’s policies and procedures is required.


• Accompany Lenders on client or prospect calls to further develop bank relationships.


• Assist Lenders with the organization and preparation/drafting of the Bank’s Watch List and/or MAPS as needed.


• Assists Lenders with any loan workout situations.


• Monitor the receipt and provide a review of financial statements for Bank customers to ensure they are maintained along with other information pertaining to commercial loans.


• Work collaboratively and effectively with other areas of the company.


• Demonstrate compliance with banking business laws and regulations as defined in company policies and procedures pertinent to the position.


• Acts as a subject matter expert for internal/external stakeholders.


• Communicate with external constituents; exhibit a sense of urgency toward meeting client requests


• Demonstrate basic understanding of credit documents; with some guidance, contribute to term sheets structuring and review legal documents


• Ensure portfolio data is accurate, timely, and complete to ensure strong quality and reporting capabilities


• Maintain timely review of borrower reporting requirements and ensure covenant compliance across an assigned portfolio.

REQUIREMENTS:

• Minimum 2-4 years' prior Commercial Credit Analysis experience required.


• Portfolio Manager experience preferred.


• Bachelor's degree in business, Accounting, Finance, Economics, or equivalent experience required.


• Commercial Real Estate analysis experience required.

EDUCATION and/or EXPERIENCE

3 - 5 years related commercial/credit analysis experience in addition to a bachelor’s degree with a business concentration or combination of the above.  Incumbent should have a minimum of 3 years of credit experience and be adept at analysis, underwriting, documentation, collection and servicing of commercial relationships.  Formal credit training required.

PHYSICAL DEMANDS 

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

While performing the duties of this job, the employee is regularly required to sit and talk or hear.  The employee frequently is required to stand; walk; use hands to finger, handle, or feel; and reach with hands and arms.  The employee must frequently lift and/or move up to 10 pounds and occasionally lift and/or move up to 25 pounds.  Specific vision abilities required by this job include close vision. Employee is required to travel to client and other locations and participate in business and community events.  

Benefits/Incentives:  Health Insurance, Dental, Vision, Flexible Spending Account, Health Savings Account, 401k Matching, Tuition Reimbursement, Employee Referral Program, Summer Family Outing, Annual Holiday Reception and more   

Salary Range:            Competitive Base    

Ready to apply? If this job sounds like a fit for you, then click on Apply/Apply Now in this posting. We look forward to talking with you.    

Qualified candidates may also submit a resume and application online at salemfive.com/careers or mail your resume to Human Resources, 210 Essex Street, Salem, MA 01970.   

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities
The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor’s legal duty to furnish information. 41 CFR 60-1.35(c)

Commercial Banking - Lending

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