Commercial Portfolio Manager II

Sovereign Bancorp, Inc., ("Sovereign") (NYSE: SOV), is the parent company of Sovereign Bank, a financial institution with $85 billion in assets as of December 31, 2007 with principal markets in the Northeast United States. Sovereign Bank has 750 community banking offices, over 2,300 ATMs and approximately 12,000 team members.  Sovereign offers a broad array of financial services and products including retail banking, business and corporate banking, cash management, capital markets, wealth management and insurance. Sovereign is the 19th largest banking institution in the United States.  For more information on Sovereign Bank, visit or call 1-877-SOV-BANK.

 

RESPONSIBILITIES:

 

The Portfolio Manager manages day-to-day credit activities including complex customer inquiries; recommending approval, denial or alternative loan structures.  The incumbent is responsible for gathering financial information and preparing periodic reviews.  He/she has a key role in monitoring credit performance, working with loan review and regulatory agencies and is responsible for managing the interface with Loan Administrators on a daily basis.  This position supports the team in achieving high quality loan outstandings to new and existing customers, a portfolio risk profile consistent with Sovereign's objectives and strong customer relationships through the sale of Sovereign's fee based products and services.


- Support Relationship Managers in maintenance and development of customer relationships through constant customer contact and interaction.
- Manage the workflow of multiple Financial Analysts along with the analytical backlog.
- Ability to prepare and review standard documentation (including but not limited to commitment letters, modification agreements, notes, etc.) coupled with working in tandem with outside counsel to document and close approved credits.
- Update, track, and maintain the financial tracking system (LQAS) and co-ordinate customer contact to achieve compliance.
- During peak season may assist in the written analyses that includes:
- Credit investigation of borrower and guarantor
- Economic/market conditions as they relate to company, industry  and market area
- Historical financial analysis
- Projection financial analysis including "what if" scenarios
- Analysis of the secondary sources of repayment

 

REQUIREMENTS:

 

- A Bachelor's degree in Finance, Accounting, Economics or related field, or equivalent work experience and at least four years of commercial credit experience.
- Accounting or financial analysis/operations work experience.
- Understanding of financial/accounting principles and systems.
- Knowledge of computer spreadsheets, modeling software, management information and database systems.
- Analytical, problem solving and organizational skills.
- Ability to work well within a structured team environment along with excellent interpersonal skills
- Excellent verbal and written communication skills.
- Attention to detail oriented with specific focus on accuracy and presentation.
- Formal Credit Training is a plus.

 

To apply to this position:

 

Please go to www.sovereignbank.com, select the “About Sovereign” tab, and then select the “Careers” tab. This will take you to a screen where you will select “Employment Opportunities”. Chose the “Advanced Search” and fill in Job ID# 32945. Select the position for which you are applying and please upload OR copy and paste your resume onto the application.