What are the responsibilities and job description for the Portfolio Manager position at Seattle Bank?
Description
Who We Are
Seattle Bank is a locally owned, digitally driven financial institution that provides personal, business, and partner banking services. Our experienced team and open API, cloud-based core technology platform, deliver a boutique bank experience for clients with interwoven personal and business financial needs. Our highly configurable and scalable tech stack also supports partner banking that enables companies to embed banking transactions into their customer online experience. Seattle Bank is a wholly owned subsidiary of Seattle Bancshares, Inc., a privately held bank holding company, and the creator of CD Valet, a digital marketplace for Certificates of Deposit.
Position Summary
Seattle Bank is currently seeking an experienced professional to fill the role of Portfolio Manager. This position is responsible for the analysis and underwriting of moderate to complex loan applications and portfolio management. The Portfolio Manager applies strong credit skills and experience to structure loans with high complexity, balancing sales goals with strategic risk management to ensure risk is appropriately mitigated. This position is responsible for continual monitoring of the loan portfolio to ensure credit files are complete and well-maintained and notifying the Credit Administrator and Chief Credit Officer of any potential adverse information and trends.
This is an in-person position located in Seattle, WA.
Essential duties
- Gather and analyze credit information on current and potential borrowers including preparation of financial statement spreads for borrowers and guarantors. Prepare written summaries and financial trend, cash flow, and collateral analyses.
- Underwrite moderate to complex commercial, small business, and C&I credit requests and recommend appropriate loan structures by drawing conclusions from the information provided as to the financial condition of the client and its guarantors and identifying key credits risks and mitigating factors.
- Track changes and update credit approvals with additions, modifications, and clarifications as the package is vetted by the Credit Administrator, Chief Banking Officer, Chief Credit Officer, and Loan Committee.
- Ensure compliance with Seattle Bank’s credit policy and procedures and identify policy exceptions.
- Collaboratively prepare credit approval presentations with the Relationship Managers.
- Research economic environment, business and industry cycles, management, and operation assessment to understand non-financial risks associated with the borrowers.
- Work in concert with Credit Administrator and Relationship Managers to organize and manage a portfolio monitoring system on all loan relationships.
- Review and analyze third party reports such as appraisals, environmental reports, and credit bureau reports.
- Monitor periodic loan/financial covenants to determine compliance, notifying appropriate parties for non-compliance.
- Contact borrowers to obtain updated financial information to ensure quality of documentation within files.
- Assist in the preparation of problem loan reports on adversely graded borrowers and assist in loan workouts as appropriate.
- Assist with special projects as assigned including, but not limited to, preparation of management reports.
- Mentoring Credit Analysts by providing opportunities for assistance and training.
Requirements
- Bachelor’s Degree and three (3) or more years as a Portfolio Manager and/or other related credit experience.
- Formal bank credit training program preferred or certification in RMA or Omega.
- Experience underwriting new commercial real estate and/or lines of credit loans with minimal oversight.
- Broad knowledge of credit principles and commercial lending best practices.
- Experience, knowledge, and training in financial statement and tax return analysis typically resulting from a combination of education and courses in accounting, financial, and credit analysis.
- Proficiency with financial spreading software (e.g., CreditQuest, Moody’s Risk Analyst, Buker’s Tax Analysis) and an understanding of basic accounting principles.
- Proficiency with Microsoft Office programs. Expertise in Microsoft Excel is a plus.
- Very strong verbal and written communications skills.
- Ability to communicate well with Relationship Managers, clients, and Bank management.
- Excellent organizational and time management skills.
- Ability to work with minimal supervision while performing duties.
Seattle Bank Benefits
We’re committed to delivering our promise of peace of mind to our clients and fostering a collaborative, inclusive and supportive workplace for our team members. Our comprehensive benefits program for eligible employees includes:
- Medical/Vision, and Dental insurance
- Life Insurance, Long Term Disability, Voluntary Life
- 401K with Bank contribution, Stock Award, and Incentive Opportunity
- Paid Time Off:
- Vacation – 3 Weeks
- Sick Time – 1 hour per 40 hours worked
- Holidays – 10 days
- Transportation and fitness benefits
- And fun, extra perks such as company social events, paid volunteer hours, quarterly incentive awards, and professional development opportunities.
Salary : $90,000 - $120,000