What are the responsibilities and job description for the Sr Portfolio Manager (SBA & CRE) position at Stearns Bank NA.?
At Stearns Bank, we’re helping people, entrepreneurs, small businesses, and local communities nationwide reach their full financial potential. Sound like something you want to be a part of? If so, we’re currently looking for a Sr Portfolio Manager (SBA & CRE). This is a Connected Work Environment.
Come see how we’re doing business unusual and charting our own path to reimagine a more inclusive financial services and banking ecosystem for all.
Benefits
Stearns Bank understands and respects that everyone is managing unique career, family, and wellness needs. That’s why we offer industry-leading benefits to employees to help them live healthy lives and bring their full selves to work every day. Benefits may vary for part-time positions. Some of those benefits include:
Employee Stock Ownership Plan & 401k Plan
Healthcare (Medical, Dental, Vision, Telehealth, Life insurance)
12-week Paid Medical Leave
Paid Parental Leave: 21-weeks Primary Care Parent, 14-weeks Secondary Care Parent
$5,000 Family Care Reimbursement: Childcare, Elder Care, Student Loan Debt, Pet expenses, down payment assistance
PTO from 13 to 23 days depending on tenure. Cashout and Carryover options.
10 Days Sick Time
11 Paid Holidays
4 Days Volunteer Time
2 Days Self Allowance Time
Tuition Assistance
For this position, we anticipate an annual range between $80,000 - $90,000.
Final employment offers will be dependent upon the selected candidate’s relevant qualifications and experience.
JOB SUMMARY
The Senior Portfolio Manager is the primary point of contact for borrowers with existing small business loans classified in regular servicing status and Complex National Commercial Real Estate. The Senior Portfolio Manager is responsible for diligently servicing customer requests through assessment of relevant facts, collection and review of borrower financial records and evaluation of the loan file for completeness. The Senior Portfolio Manager proactively monitors the portfolio to ensure credit risks are timely identified with suggested corrective action and potential change to the bank’s internal risk rating, as well as identifying potential new revenue opportunities. The Senior Portfolio Manager must perform critical job duties consistent with the SBA’s standard operating procedures and Bank loan policy. The Senior Portfolio Manager must work with lending teams, portfolio managers, legal team, and other management to supervise loan portfolio to proactively identify and manage credit risks, identify, monitor, and handle problem credits, and enforce loan and credit documents.
Assist with identifying and occasionally negotiate workout solutions to mitigate credit risks by securing paydowns and/or additional collateral and guarantors or exiting credit, pursuing full collection in collaboration with legal team, and recommend risk rating changes, changes in accrual status, charge downs and charge offs, and retention, workout and recovery strategies.
RESPONSIBILITIES
- Manage a portfolio of existing credit relationships ensuring credit quality, soundness of risk ratings, condition of credit files and adherence to Bank loan policy.
- Complete and document a defined number of loan reviews, which includes a preliminary evaluation of financial records, on a quarterly basis for all loans in the portfolio and classified in regular servicing status.
- Prepare material change forms and file comments, as applicable, to document material changes to the loan since approval.
- Assist the credit department with completing loan presentations or quarterly reviews to the chief credit officer or loan committee.
- Respond to customer inquiries, credit requests or servicing requests in a timely manner and consistent with the Small Business Administration’s SOP 50 57 (2) and Bank loan policy.
- Review daily reports of delinquent loans and take affirmative action to collect payments on past-due accounts.
- Document customer communications, both written and verbal, in designated record-keeping platforms.
- Conduct reviews of existing loan arrangements for compliance and exception monitoring, which is also known as “quality control reviews.”
- Monitor delinquent real estate tax reports.
- Monitor all insurance requirements associated with the loan and determine whether force-placed insurance is appropriate.
- Assist bank management with special projects or business development initiatives on an as-needed basis.
REQUIREMENTS
- Occasionally lift and/or move up to 10 lbs.
- Literacy in English.
- Ability to sit for extended periods of time, twist, bend, sit, walk use hands to twist, handle or feel objects, tools or controls, such as computer mouse, computer keyboard, calculator, stapler, telephone, staple puller, etc., reach with hands and arms, balance, stoop, kneel, talk or hear.
- Specific vision abilities required by the job include close vision, distance vision, peripheral vision, depth perception and the ability to adjust focus.
QUALIFICATIONS
- Bachelor’s degree or equivalent from a four-year college or university; and/or a minimum of 7 years related banking experience; or equivalent combination of education and experience.
- Prior experience with commercial real estate, complex structures and SBA.
- Strong analytical skills including the ability to read and assess individual and company financial statements, cash flow, industry, competition, and projections.
- Strong knowledge of basic banking products, commercial lending products and ability to match solutions with the borrowers.
- Excellent organizational skills, attention to detail and the ability to work in a fast-paced environment.
- Ability to perform job responsibilities with minimal direction.
- Strong presentation, written and verbal communication skills.
- Ability to work independently and within a team.
- Flexible.
THE COMPANY
Founded in 1912, Stearns Financial Services Inc. (SFSI) is a $3.2 billion, independently owned financial institution with locations in Minnesota, Florida and Arizona, and over 35,000 small business customers nationwide. Specializing in affordable housing financing, USDA and SBA lending, and small business and equipment financing, Stearns Bank is regularly recognized as one of the country’s top-performing banks and “Best Banks to Work For” by American Banker.
As a Star Tribune Top Workplaces award recipient and an award recipient of the Minnesota Business Magazine 100 Best Places to Work in Minnesota, Stearns takes pride in their team and holds their employees in extremely high regard. We offer a competitive salary and benefit package including our Employee Stock Ownership Program-one of the best long-term incentive programs in the nation. To learn more about Stearns Bank, visit www. StearnsBank.com
EQUAL OPPORTUNITY EMPLOYER /AFFIRMATIVE ACTION PLAN
We are an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, or creed, religion, sex, marital status, familial status, sexual orientation, national origin, age, disability, veteran’s status, status with regard to public assistance, or any other class protected by Federal, State, local laws governing nondiscrimination in employment.
Salary : $80,000 - $90,000