Statement of Duties

Incumbent in the position is responsible for credit and loan management of all Financial Programs within Commerce RI including but not limited to underwriting of new loan requests, managing existing loan portfolio, workout, participation in business development, client servicing; performs all other related work as required.

Position Functions

The essential functions and duties listed below are intended only as illustration of the various types of work that may be performed. The omission of specific statements of duties does not exclude them from the position if work is similar, related or a logical assignment to the position.

Essential Functions

• Manages Small Business Loan Fund portfolio, including annual reviews and underwriting new loan requests.
• Tracks the financial performance of existing loans and identifying problems resulting in solutions for mitigating risk or maximizing recoveries.
• Establishes and maintains a credit risk rating system.
• Regularly visits existing clients and prospects.
• Reacts in a timely manner to portfolio companies requests for assistance relating to their existing loans.
• Reviews loan requests from partner organizations as needed for compliance with program rules.
• Prepares documentation pertaining to the existing loans.
• Participates in business development efforts by meeting with current and prospective clients to explain financial resource programs available through the Commerce RI to assist in meeting their specific financing needs.
• Fosters relationships with bankers, lawyers, accountants and other non-traditional lenders.
• Regularly attends and presents at monthly board meetings.
• Maintain credit files ensuring all reporting requirements are met according to the established guidelines.
• Maintain various portfolio reports.

Key Competencies

• Intelligence: The ability to acquire understanding and absorb information rapidly. A quick study.
• Resourcefulness: Passionately finds ways over, around, or through barriers to success. Achieves results despite lack of resources. Goes beyond the call of duty. Shows bias for action. A results-oriented “doer.”
• Written Communications: Writes clear, precise, well-organized documents using appropriate vocabulary, grammar, and word usage.
• Goal Setting: Sets fair stretch goals for self and others. Encourages individual initiative.
• Ambition: Desires to grow in responsibility and authority.

Qualifications

• A candidate for this position must have a bachelor’s degree in accounting, finance or business-related field with a minimum of five (5) to seven (7) years’ experience in the commercial lending or credit industry, an MBA is preferred.
• Applicants must have demonstrated analytical skills for loan underwriting and structuring, a thorough knowledge of principles and practices of credit administration, portfolio management, loan and bond programs, and knowledge of applicable federal and state laws and regulations.
• Proficiency with business and financial software required such as Excel and Nortridge and other Microsoft programs. Ability to conduct independent research, analyze and interpret results and develop comprehensive reports and proposals. The successful candidate must have demonstrated business writing skills to prepare a summary of the credit analysis.
• In addition, strong negotiation skills, experience in managing problem loans, work out negotiation skills and knowledge of bankruptcy statutes is preferred.
• Experience with public bond financing experience is a plus.

Salary Range: $110,000 - $120,000

Hybrid: 2 days remote/3 days in office (Providence, RI)