Commercial Loan Manager jobs in Medford, MA

POSITION SUMMARY:

We are looking for a Portfolio Loan Officer who will be responsible for managing a part of the Commercial Lending portfolio which may include commercial real estate loans, construction loans, C&I loans, lines of credit, terms loans, etc., while adhering to the Bank’s credit policy.  The Portfolio Loan Officer will review and recommend approval of requisitions, site inspections, loan monitoring, and collection of overdue accounts.  They will have sound credit skills, and exercise discretion and independent judgment in their decision making. The candidate will also be responsible for interim monitoring of covenants, borrowing base certificates and other conditions of credit. 

This position is jointly responsible with the Relationship Managers for effectively interacting with clients to enhance their relationship with the Bank.  

ESSENTIAL DUTIES AND RESPONSIBILITIES:

1. Manage and report on assigned loan portfolio, ensuring optimal performance by assisting in collecting financials, monitoring relationships, etc.
2. Conduct ongoing financial and collateral performance monitoring, including financial statement preparation, modeling, and analysis as needed.
3. Assist the credit department in the preparation of annual reviews for existing customers, providing in-depth financial and risk assessments.
4. Analyze financial statements to identify strengths and weaknesses in borrowers' operating performance.
5. Review and renew demand lines of credit, commercial real estate loans, and letters of credit, ensuring all loan conditions are met.
6. Work directly with clients to collect and review financial documents and support customer inquiries.
7. Collaborate with closing attorneys, accountants, lenders, and support staff to ensure compliance with loan pre-closing and post-closing conditions.
8. Monitor and manage loan maturities and renewals to prevent administrative delays.
9. Conduct periodic credit reviews, particularly in cases indicating potential risk.
10. Identify trends in client activities that may signal credit quality issues.
11. Assist in the collection of financial documents and manage smaller credit requests, from financials and application collection, to approvals, closing, etc.
12. Support senior lender with customer follow-ups and relationship management.
13. Monitor and address past due loans and overdraft accounts regularly.
14. Manage loan extensions, modifications, name changes, rate changes, and notifications of customer dissolutions, etc.
15. Assist in the preparation and review of loan documents for assigned relationships.
16. Collaborate with account officer or Chief Credit Officer on workout credits as necessary.
17. Prepare and organize required reports, memos, and other necessary documentation in a timely manner.
18. Demonstrate compliance with banking laws and regulations as defined in company policies and procedures.
19. Work collaboratively with other departments, participate in projects and special assignments representing Community Business Banking.
20. Provide guidance, coaching, and mentoring to junior staff and participate in training new incumbents.
21. Other tasks as assigned. 

MINIMUM KNOWLEDGE, SKILLS AND ABILITIES REQUIRED:

• Bachelor's degree (B. S. in business, finance, or related field) from four-year college or university strongly preferred. 
• Three to five years related experience and/or training; or equivalent combination of education and experience strongly preferred. 
• Familiarity with loan terminology and legal requirements.  
• Demonstrated ability to define problems, collect data, establish facts, and draw valid conclusions.  
• Demonstrated analytical, problem solving and decision-making skills required.
• Proven background in the review of financial statements and tax returns submitted by applicants and is capable of evaluating their ability to repay. 
• Interprets and evaluates consumer credit bureau reports, Dun & Bradstreet business reports and public records. 
• Demonstrated excellent communication – both written and verbal 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.
• Bi-lingual/Spanish speaking a plus.

Reading Cooperative Bank provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state or local laws.

This policy applies to all terms and conditions of employment, including recruiting, hiring, placement, promotion, termination, layoff, recall, transfer, leaves of absence, compensation and training.