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Citizens · 1 day ago

Underwriter / Portfolio Manager - Community Development

Boston, MA

Full-time

Hybrid

Senior Level, Lead/Staff

8+ years exp

Citizens is a financial institution focused on community development, and they are seeking a Community Development Portfolio Manager II. The role involves prudent underwriting, credit and risk administration, and ongoing portfolio maintenance, primarily for medium to higher complexity credits, while ensuring compliance with financial covenants and credit policies.

BankingCredit CardsFinancial ServicesFinTechRetail

H1B Sponsor Likely

Responsibilities

Responsible for ensuring overall portfolio performance and asset quality remains strong and, when necessary, surfaces issues, proposes and collaborates with others on strategies and actions to limit risk and loss to the Bank

Will monitor the performance of existing borrowers within assigned portfolio and ensure compliance with financial covenants

Responsible for performing the functions of the position with only periodic oversight and is expected to perform with minimal supervisory intervention

Evaluate debt opportunities for suitability with respect to Community Development goals, underwriting standards, and credit policy

Collaborate with RM, as needed, in preparation of TOS and commitment letter

Takes lead in underwriting process including thorough, sound risk assessment, CPS preparation and compliance with credit policy, including appropriate disclosure of exceptions

Effectively balances being thorough with being concise

Exhibits knowledge of a broad range of loan terms and conditions and understanding of loan documentation

Experience in understanding and structuring complex capital stacks, including tax credits, public grant and subsidy funding sources, including but not limited to block grants (HOME/CDBG) and HUD subsidy support (ie Section 8)

Portfolio will include a high concentration of commercial real estate construction loans

Ongoing portfolio responsibilities will include approving monthly construction loan draws and monitoring development budget for adequacy

Works in conjunction with Relationship Management to secure credit approval for all proposals

Proactively recognizes potential credit issues and collaborates with RM to articulate appropriate mitigants

Consistently adheres to all regulatory compliance requirements

Takes lead, working with RM, to negotiate loan documents and ensure loans are closed in accordance with approvals

Specific tasks may include Running financial models using a variety of formats/systems, preparing CPS/T&C/Appendices for new credit and renewal requests, Sponsor/Guarantor analyses, completion of regular compliance checks and reviewing Sources and Uses/Flow of Funds)

Oversees assigned portfolio of credits, anticipates portfolio problems, identifies and develops solutions, handles multiple demands and competing priorities, meets deadlines and schedules associated with maintaining portfolio compliance with credit and risk policies

May audit loans post closing to ensure documentation is in accordance with approval

Actively and effectively manages assigned portfolio including, but not limited to: Completing annual project and sponsor reviews; proactive proper completion and validation of credit grading models; oversees scheduled (monthly/ quarterly) covenant and financial reporting monitoring requirements; initiating follow up action in conjunction with RM as necessary; tracking of delinquency, exceptions, matured loans and collateral monitoring

Effectively maintains high quality credit file documentation

Manages a portfolio of medium to high complexity credits, with complex organization structures, documentation, and/or collateral structures

May be responsible for some larger exposures

Anticipates portfolio/credit problems and takes action to develop solutions in partnership with RM or PM TL

Qualification

Financial analysisCredit structuringPortfolio managementCommercial real estateTax Advantaged InvestmentsLow Income Housing CreditCommunication skillsMultitaskingOffice products proficiencySpreadsheet modelingInterpersonal skills

Required

Bachelor's degree required

8+ years of experience and exhibited competency in financial analysis and credit structuring, understanding, and applying credit policy, and credit monitoring and risk administration practices

Prior portfolio management experience to include proposing credit and covenant structures and documenting loans

Strong verbal and written communications and interpersonal skills combined with ability to multitask and function under pressure to meet deadlines

Competency in Office products (Word, Excel, Power Point), Argus and spread sheet modeling

Preferred

Business administration, finance, accounting, and/or economics preferred

Commercial Real Estate experience – debt, equity, or development – experience is preferred

Low Income Housing Credit (LIHTC) is highly preferred

Historic Tax Credit (HTC) and New Market Tax Credit (NMTC) a benefit

Company

Citizens

Glassdoor3.6

At Citizens, we recognize that the journey to accomplishment is no longer linear and that individuals are made of all they have done and all they are going to do.

Founded in 1828

Providence, Rhode Island, USA

10001+ employees

https://www.citizensbank.com/

H1B Sponsorship

Citizens has a track record of offering H1B sponsorships. Please note that this does not guarantee sponsorship for this specific role. Below presents additional info for your reference. (Data Powered by US Department of Labor)

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2020 (1)