Sr Portfolio Manager (CRE & OREO)

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 (CRE & OREO). 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 $105,000 - $115,000. 

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 complex National Commercial Real Estate and Other Real Estate Owned(“OREO”). 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 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 that is consistent with 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.”