What are the responsibilities and job description for the Portfolio Manager position at Reading Co-Operative?
POSITION SUMMARY:
The Portfolio Manager (PM) will work closely with the SVP, Commercial Team Leader and the Commercial Lending team, managing a designated portfolio of commercial loans. The PM will also meet with clients on a regular basis, and handle commercial and small business loans, primarily up to $500K, with the ability to assist on loans up to $1M as needed. This position serves as the primary client contact for all small business lending requests and is responsible for ensuring that all required financials are collected and received for underwriting and review before handling to credit.
The PM will monitor an assigned loan portfolio, track required financial documentation, and ensure timely completion of loan maturities and renewals, amongst other responsibilities, to ensure such portfolio is up to date. Additionally, the PM will support the SVP and other departments of the Bank as needed when it comes to commercial and small lending requests.
This position is designed to provide a clear pathway to becoming a Commercial Lender, offering opportunities for professional growth and development in commercial lending.
RESPONSIBILITIES INCLUDE, BUT ARE NOT LIMITED TO THE FOLLOWING:
- Portfolio Management, including:
- Managing and reporting on an assigned commercial loan portfolio and ensure its performance and growth.
- Monitoring relationships on an ongoing basis for financial and collateral performance, including tracking financial statement submissions, covenant compliance, and collateral valuations.
- Ensuring all required financial documents are collected and received for underwriting and monitoring purposes.
- Ensures that annual loan maturities and renewals are completed to avoid any administrative past dues.
- Financial reporting, covenant tracking, and obtaining annual financial information from clients.
- Ensures financial documents are collected and submitted for review in a timely manner.
- Reports regularly on portfolio status to the Team Leader.
- Serves as the Bank primary point of contact for small business lending requests, ensuring effective communication with clients.
- Supports Relationship Managers by assisting in monitoring client relationships and identifying trends in client activities that may indicate deteriorating credit quality.
- Assists in maintaining compliance with bank loan policies and regulatory requirements.
- Coordinates with other internal departments to facilitate loan processing and approvals.
- Provides backup support to SVP/Team Leader as needed.
- Assists the team during vacations/absences as necessary.
- Provides ongoing sales and service support.
MINIMUM KNOWLEDGE, SKILLS AND ABILITIES REQUIRED
- Bachelor's degree (B.S. in business, finance, or a related field) strongly preferred.
- Experience with small business lending will be preferred.
- Some formal commercial credit training strongly preferred.
- Familiarity with loan terminology and legal requirements.
- Demonstrates experience and judgment with credit decisions and analysis.
- Demonstrated ability to define problems, collect data, establish facts, and draw valid conclusions.
- Strong analytical, problem-solving, and decision-making skills required.
- Ability to work independently with limited supervision.
- Proven ability to review financial statements and tax returns submitted by applicants and assess their ability to repay.
- Experience interpreting and evaluating consumer credit bureau reports, and public records.
- Excellent written and verbal communication skills required.
- Must be a team player, flexible, and willing to support other business line partners to provide excellent customer service.
- Must be results-oriented and able to prioritize multiple tasks.
- Must be a person of high integrity who is dependable and professional at all times.
- Strong desire to progress into a commercial lending role.
- Bilingual/Spanish speaking strongly preferred.
Salary : $500,000
