Managed Assets Officer

POSITION: Managed Assets Officer

Position Summary:

At Cambridge Savings Bank, our purpose is to have a positive impact on our customers, employees, and community's financial well-being. We are committed to exceeding expectations and having a strong commitment to diversity.The Managed Assets Officer will assist the Restructuring Manager to optimize earnings as it relates to performing and delinquent C&I, CRE and Small Business loans. Keep performing loans current by extending, restructuring and modifying terms. For delinquent loans capable of being revived, work with the Borrower to develop a strategy to get the loan performing through modification and/or restructuring. For loans that cannot be resurrected, pursue legal remedies including collateral liquidation and collection on personal guaranties to minimize losses.

Key Result Areas:

* Act as of the primary loan officer for a portfolio of non-performing, criticized or classified small business and commercial loans.

* Analyze and prepare written approval memorandums for waivers, amendments, restructuring and forbearance agreements;

* Work closely with counsel to ensure negotiated arrangements are properly documented;

* Meet and communicate regularly and effectively with borrowers and provide summary memos to memorialize status changes and strategy recommendations to Bank senior management;

* Manage the Pre-workout process including documentation evaluation, coordination of appraisals and title searches on collateral property and the engagement of appropriate legal counsel;

* Estimate loss exposure, ascertain accrual status, develop strategies to correct documentation deficiencies, and execute plans of action;

* Monitor borrower performance, financial condition, and covenant compliance to ensure timely risk rating adjustments and proactive issue identification.

* Become familiar with the workout rules and regulations of the SBA.

* Prepare various monthly/quarterly required management reports for the assigned portfolio, including Watch Reports and Specific Reserve Analyses

* Ensure compliance with all relevant federal and state banking laws, rules, regulations and customary practices required to mitigate risk and uphold the appropriate ethical standards

* Perform additional duties as required

Qualifications:

* 4-year college degree, preferably in business, finance, or accounting, or minimum of 5 years of relevant banking/financial services experience with fluency in customary CRE, C&I, and SBA structures and products

* Formally credit trained with a minimum of 5 years' experience in commercial credit / lending / workout

* Excellent communication, negotiation and presentation skills in addition to strong analytical, organizational, investigative and problem-solving skills required

* Ability to interpret financial statements and / or Tax Returns with strong analytical skills.

* Knowledge of commercial lending operations and regulations is preferred.

* Knowledge of Excel and Word, as well as ability to learn and adapt to internal bank systems.

* Ability to maintain a professional demeanor and control emotions even in heated and difficult situations and work both independently and in groups.

* Effective project and time management skills, with ability to multi-task.

The above description covers the most significant major responsibilities but does not exclude other occasional responsibilities and accountabilities, the inclusion of which would be in conformity with the major purpose of this job.

Location: Hybrid/Waltham, MA Salary Range: $100,000 - $135,000

The reasonably estimated salary for this role at Cambridge Savings Bank ranges from $100,000 - $135,000. Cambridge Saving Bank will determine actual compensation for the role based on factors including, but not limited to, the successful candidate's skills, qualifications, and experience. In addition, Cambridge Savings Bank offers a wide range of comprehensive and inclusive employee benefits for full-time roles including healthcare, parental planning, mental health benefits, performance bonus opportunities, a 401(k) plan and match, flexible time off, and others.

Visa Sponsorship: Cambridge Savings Bank is unable to sponsor or take over sponsorship of an employment visa for this role at this time.

About Cambridge Savings Bank:

Cambridge Savings Bank is a full-service banking institution with over $7 billion in assets. As a mutual bank, CSB is committed to improving the quality of life of our employees, customers, and the communities we serve. One of the oldest and largest community banks in Massachusetts, Cambridge Savings Bank offers a full line of individual and business banking services across a robust Massachusetts-based branch network and through digital banking solutions for commercial, small business and consumer customers. To learn more about how we can meet your needs, visit us at cambridgesavings.com, or better yet, come meet us to help you make the most out of your banking relationship. Member FDIC. Equal Housing Lender. NMLS # 543370.