Portfolio Manager I

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.

Who We Are: Join an organization that prioritizes innovation, customer service and supporting the communities we serve. Love the people you work with while participating in and helping to shape our collaborative environment. When you join Salem Five, you become part of a growing, regional financial services company. 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.

Why Salem Five: We’ve been around since 1855 – which means we will be around a lot longer – but we also know what it takes to be competitive in this day and age. We pride ourselves in being one of the first banks on the internet and continually try and push ourselves to offer the latest in online and mobile banking to serve our customers in whichever channel they prefer. Whether it be a virtual assistant via our website, obtaining cash at ATMs without a card present, or going through the mortgage process via our digital app, we want to offer the digital experiences that customers want. Continued company growth offers opportunities for individual growth.

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:

• Responsible for assisting in completion of due-diligence reporting (Lexis Nexis / Experian Credit Reporting), for new and existing loan requests. Said due-diligence reporting will accompany each underwriting proposal as part of the approval process.
• Assumes responsibility for completion of financial statement spreading to be performed in Baker Hill, in concert with Junior Underwriters.
• Responsible for attending RMA/Mass Bankers “Advanced Course” for financial studies, to further analysis capabilities as it relates to review of the Balance Sheet, Income Statement and Statement of Cash Flows.
• Responsible for Performing underwriting across assigned commercial portfolio, in accordance with Bank pipeline demands. Compliance with State Regulatory guidelines and Salem Five’s policies and procedures is required.
• Responsible for working in concert with Account Officers on Annual Reviews, Line of credit renewals and File Comments for designated relationships.
• Accompany officers on customer visits to further develop bank relationships.
• Have ability to work directly with Bank clients via phone or email to gather required information.
• Maintain and service a commercial loan portfolio assigned by senior lender/team leader, including but not limited to, addressing the Past Due Loans; managing Maturing Loans; Annual renewals; Rate Modification Requests; customer inquiries/issues etc. as needed.
• Assist the Lenders with managing the Bank’s Past Due Loan Reports ensuring profitability and identifying any potential problems loans and provide a recommended course of action designed to reduce risk to the bank.
• Assist Lenders in the collection of necessary required documentation/information. Organizing of same and the preparation/drafting of loan renewals and extensions while ensuring compliance and meeting time constraints.
• 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.
• Support underwriting staff by providing proper information when appropriate.
• Monitors the receipt and provides 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 ensuring true team spirit.
• Demonstrate compliance with business banking laws and regulations as defined in company policies and procedures pertinent to the position.
• Prepare and organize required reports, memos, and any other necessary documentation on a timely basis.
• Cross- sell products and services to existing relationships.
• Promote the company's presence through active participation and attendance at various civic and charitable events/organizations.
• Project and maintain a professional image in the marketplace.
• Demonstrate regular attendance as is essential to this position.
• Assume additional responsibilities as requested.

SKILLS

• Strong credit skills
• Ability to work independently and directly with lenders.
• Required to mult-task (lenders/clients) as it relates to collection of required financial information.
• Good with technology and systems; ability to develop a solid understanding of the Bank’s NextGen system.

EDUCATION and/or EXPERIENCE

Successful candidate should possess a minimum of 2 - 3 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 2 years of Commercial Banking experience and be adept at analysis, underwriting, documentation, collection and servicing of commercial relationships. Formal credit training strongly desired.

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 store, 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)