GENERAL FUNCTION: The Special Assets Portfolio Manager II is a key member of the "coverage team", directly accountable for managing a portfolio of more complex, and typically larger stressed banking relationships through their review of updated financial statements, proactive monitoring, and interaction with the Credit Analysts and SAG Relationship Managers. Primary attention is given to underwriting and preparing approval memos for renewals, change in terms, and forbearance agreements. In addition, the Special Assets Portfolio Manager II is responsible for monitoring the current status of loan payments, past dues, loan collateral monitoring and inspections, pending maturities of loans and Forbearance Agreements, monetary compliance/defaults, covenant(s) compliance/defaults, and financial statement reporting compliance/defaults.
Assists Workout Officers in coordinating the accumulation of all files (Credit, Collateral, SBA, shadow, side, etc.) to perform a thorough review of high risk banking relationships, ensuring financial statements are current and spread correctly to allow for a detailed review/analysis of: a)Balance Sheet leverage and liquidity; b) Income Statement margin performance and profitability/loss and resulting operating cash flows; c) collateral liquidation coverage margin vs. the bank's loan exposure; d) Guarantor liquidity and personal credit rating trends; and e) performing special projects; f) all other detailed analysis as required. Prepares documentation required for the processing of loans, reviews status of existing loans, recommends appropriate action on loans that are mature or past due, and assists Workout Officers in loan closings.
Responsible and accountable for risk by openly exchanging ideas and opinions, elevating concerns, and personally following policies and procedures as defined. Accountable for always doing the right thing for customers and colleagues, and ensures that actions and behaviors drive a positive customer experience. While operating within the Bank's risk appetite, achieves results by consistently identifying, assessing, managing, monitoring, and reporting risks of all types.
ESSENTIAL DUTIES AND RESPONSIBILITIES:- Accountable for managing a portfolio of accounts in support of the Special Assets Director, Team Leader, and/or Workout Officers. , relying on experience with credit analysis, loan review and/or banking industry..
- Client contact with some of the most difficult credit relationships, in sometimes confrontational situations.
- Prepare approval memos and make recommendations for credit decisions. Provide input in discussions with the deal team on action plans and deal structure.
- Value collateral and assess collateral position in support of loan oustandings
- Mentor to Credit Analysts and more Junior Portfolio Managers
- Completes all requirements of loan bookings. This includes: preparation, review, documentation and the forwarding of all executed documents to the appropriate fulfillment center to ensure that all Special Assets Group loan bookings are booked correctly on the AFS system.
- Develops a working knowledge of all assigned customers and businesses.
- Responsible for monitoring the progress on the drafting of all Forbearance Agreements and loan documents
preparation; including third party document coordination, completion and review.
- Assures proper credit approval is obtained for new and renewal credit requests.
- Collects and reviews all required collateral information.
- Reviews current account status, to include but not limited to, Past Due accounts and Matured and Maturing loan relationships.
- Supports the Workout Officers in monitoring, on a continuous basis, information concerning customer performance, abilities, and industry to determine how the company is trending. This will consist of, but not be entirely limited to, statement, covenant, insurance tracking, and the Dual Risk rating system.
- Rating updates, Regulatory Ratings, and Administrative Loan Status Report (ALSR) updating and completeness.
- Assist Workout Officers and bank engaged legal counsel by providing required information.
- Assist in performing due diligence and reviewing commercial loan documentation for exceptions and/or deficiencies.
- Engage the Real Estate Review Group when appropriate.
- Process new loan transfers. Including full due diligence of "approval document", current situation, review of legal opinion.
- Assist assigned Workout Officer in completing all required ALSR forms within the given deadlines for ALSR and Portfolio Review meetings
- Attend client, ALSR, Portfolio Review and any other meetings as needed.
- Complete non-accrual and charge off memos as required.
MINIMUM KNOWLEDGE, SKILLS AND ABILITIES REQUIRED:- Bachelor's degree in accounting, finance or economics or equivalent experience.
- Minimum 6 years of credit analysis and/or Loan Review experience in the banking industry or relevant experience.
- Strong analytical skills and critical thinking skills.
- Strong verbal and written communication skills.
- Professional presence. Able to communicate effectively with clients, consultants, bank group members, and internal bank partners.
- Expertise in financial and risk analysis, and effective problem solving
- Proficient in software applications such as Microsoft Word and Excel.
- Familiarity with the bank's internal applications is a plus.
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WORKING CONDITIONS:- Normal office environment with little exposure to dust, noise, temperature and the like.
- Extended viewing of a CRT screen.
- Minimal Travel Required.
Special Assets Portfolio Manager II
Total Base Pay Range 82,100.00 - 172,500.00 USD Annual
At Fifth Third, we understand the importance of recognizing our employees for the role they play in improving the lives of our customers, communities and each other. Our Total Rewards include comprehensive benefits and differentiated compensation offerings to give each employee the opportunity to be their best every day.
The base salary for this position is reflective of the range of salary levels for all roles within this pay grade across the U.S. Individual salaries within this range will vary based on factors such as role, relevant skillset, relevant experience, education and geographic location. In addition to the base salary, this role is eligible to participate in an incentive compensation plan, with any such payment based upon company, line of business and/or individual performance.
Our extensive benefits programs are designed to support the individual needs of our employees and their families, encompassing physical, financial, emotional and social well-being. You can learn more about those programs on our 53.com Careers page at: https://www.53.com/content/fifth-third/en/careers/benefits.html or by consulting with your talent acquisition partner.
LOCATION -- Detroit, Michigan 48226
Attention search firms and staffing agencies: do not submit unsolicited resumes for this posting. Fifth Third does not accept resumes from any agency that does not have an active agreement with Fifth Third. Any unsolicited resumes - no matter how they are submitted - will be considered the property of Fifth Third and Fifth Third will not be responsible for any associated fee.
