Asset Manager

Job Description

Job Description

This position can be located in Portland ME or Lewiston ME

Northeast Bank is a full-service community bank and a national commercial real estate lender with offices in Maine, Massachusetts, New York, and California.

We are looking for motivated and talented individuals who want to make an impact in a growing company that cares about its employees, customers, and the communities it serves.

Northeast Bank provides competitive compensation and benefits, generous PTO, and a hybrid work environment dependent on the role.

If you are looking for a growing organization that prioritizes its employees, we encourage you to apply.

POSITION SUMMARY : Provide management oversight for a portfolio of performing bank assets as well as Bank originated loans with the objective of maximizing returns and minimizing losses within the portfolio.

RESPONSIBILITIES :

Management oversight for the Bank’s purchased loan portfolio, which will include initial written assessment of each asset acquired.

The initial assessment will include a strategy to maximize income and diminish risk of loss in the future. Such action plans will be recommended to Senior Management and investment partners on an ongoing basis.

Daily responsibilities include restructuring credit and repayment terms, developing strategies to better secure collateral, collecting and monitoring monthly payments, as well as taxes and insurance, working with borrowers to obtain financial information and preparing written in-depth analysis on an annual or bi-annual basis with recommendations to protect and strengthen the investment.

• Management oversight for the Bank’s originated loan portfolio. Daily responsibilities include monitoring monthly payments, as well as taxes and insurance, working with borrowers to obtain financial information and preparing written in-depth analysis on an annual basis with recommendations to protect and strengthen the investment if necessary.
• May have specific assignment or shared responsibility for management oversight for the Community Banking Portfolio. Daily responsibilities include collecting and monitoring monthly payments, as well as taxes and insurance, working with borrowers to obtain financial information, negotiating and structuring of small commercial loans, preparing small loan credit underwriting analysis and handling loan closings.

Additional responsibilities include annual reviews of commercial term notes in the portfolio with recommendations to protect and strengthen the investment.

• Periodic credit underwriting assignments for loan portfolios under consideration, including a review of available loan documentation, borrower, guarantor and tenant analysis, recommendation of bid price based on cash flow modeling and presentation of analysis to loan investment committee.
• Successfully pass technical and regulatory examinations by the Company.

KNOWLEDGE, SKILLS AND ABILITIES :

• Bachelor’s degree required
• 6 to 10 years of experience in asset management, commercial loan workout and / or loan underwriting
• Formal bank credit training a plus
• Ability to thrive in a team environment

PHYSICAL DEMANDS AND CONDITIONS

• Must be able to remain in a stationary position for long periods of time.
• Some travel is required.
• Must be able to occasionally lift up to 20lbs.
• Consistently operates a computer and other office equipment such as calculator, copy machine and printers.
• Climate controlled general office setting with moderate noise level.
• Must express or exchange ideas with co-workers, customers and vendors.

Northeast Bank is an equal employment opportunity and affirmative action employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity and expression, national original, veteran status and any other classification protected by Law.

We celebrate diversity and are committed to creating an inclusive environment for all employees.