What are the responsibilities and job description for the Portfolio Manager position at MERIWEST CREDIT UNION?
Portfolio Manager
Business Services Department
Position Summary
The Portfolio Manager will be responsible for managing an assigned commercial loan portfolio and a wide range of tasks including but not limited to overseeing their assigned commercial loan portfolio, handling tasks such as analyzing financials, conducting inspections, monitoring collateral, processing borrower and lender requests.
Essential Duties and Responsibilities
- Collects financials for both the borrowers and guarantors either quarterly/annually or as needed to comply with MCU loan policy, order and review annual property inspections, order credit reports on all guarantors, maintain files and ensure borrowers remain in compliance with all covenants and provide appropriate documents per their loan agreements.
- Also responsible for quarterly and year-end reporting and monitoring of the collateral property financials and physical condition within the assigned portfolio.
- Coordinate and participate in meetings with management and relevant stakeholders to thoroughly assess and discuss potential problem loans within the portfolio. Contribute to the development of strategies for effective risk mitigation and provide status updates of resolution.
- File preparation for audits by assisting in the coordination of internal/external audits of department operations.
- Take an active role in formulating, revising, following, and implementing loan servicing policies and procedures to ensure compliance with lender and company guidelines and requirements and data security protocols.
- Build relationships within the industry through meetings, events, and involvement in real estate organization.
- Performs other duties as assigned.
Must comply with all company policies and procedures, applicable laws and regulations, including but not limited to, the Bank Secrecy Act, the Patriot Act, and the Office of Foreign Assets Control.
Please note: this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties responsibilities and activities may change at any time with or without notice.
Minimum Qualifications
- Five to eight years of similar or related experience, including preparatory experience.
- Bachelor’s degree in accounting or finance preferred.
- Previous knowledge of commercial lending is required.
- Proficient with Microsoft Office programs including Excel, Word, PowerPoint, and Outlook
- Excellent communication skills, verbally and in writing, with the ability to communicate effectively to all levels of internal and external personnel.
- A significant level of trust, credibility and diplomacy is required. In-depth dialogue, conversations and explanations with customers, direct and indirect reports and outside vendors can be of a sensitive and/or highly confidential nature. Communications may involve motivating, influencing, educating and/or advising others on matters of significance. Typically includes subject matter experts as well as first level to middle managers.
Do you want to be valued as an employee?
Employees are Meriwest’s most valuable resource. We are committed to removing barriers to access and enhancing opportunities for all individuals based on merit and potential. We provide competitive wages and a supportive environment that promotes career advancement. Meriwest utilizes a grading system to determine salary ranges for all positions. Each grade is assigned a salary range which consists of a minimum, midpoint, and maximum rate. The Portfolio Manager position is a Grade 12.
- Target Range: $99,069.72 to $123,837.15*
*The target range for entry in a new position is between the minimum and midpoint of the range, depending on experience and qualifications.
We also offer an excellent, fully comprehensive benefits program, including:
- Medical/Dental/Vision on the first day of employment for full-time employees
- Free Long Term Care Insurance for employees
- Tuition Reimbursement/Student Loan Repayment Plan
- Pension Plan/401K
- Bonus and incentive potential
- Generous Paid Time Off (PTO)/Holiday program
- Career growth support and planning programs
- In-house fitness center
- Discounts on new Mortgage after 6 months of employment
Meriwest is an equal opportunity employer that is committed to inclusion and diversity. All qualified applicants will receive consideration for employment. We do not discriminate based upon race, religion, color, national origin, sex (including pregnancy, childbirth, reproductive health decisions, or related medical conditions), sexual orientation, gender identity, gender expression, age, status as a protected veteran, status as an individual with a disability, genetic information, political views or activity, or other applicable legally protected characteristics.
Salary : $99,070 - $123,837