Portfolio Officer

Job Description:

This position reports directly to the SVP, Commercial Lending.  The Portfolio Officer will actively work with assigned Lenders to structure, underwrite and monitor new loans, renewals and modifications and to manage the Commercial portfolio performance of the SVP, Commercial Lending.  This person will monitor the timely receipt of financial information, review loans for compliance to loan documents and Bank policies, assess risk ratings for accuracy, manage construction projects and interact with participant banks.  This position will partner with the Lending Officers, Portfolio Manager and Credit Administration as a key resource in vetting, structuring and when needed, presenting loan transactions for approval and/or modification.  This position requires an individual with the ability to effectively communicate and work with appropriate internal and external contacts to fulfill loan production and administrative goals. 

Who We Are:

For over a century, HarborOne has remained steadfast in its mission: total commitment to our customers, our communities, and our colleagues. Founded in 1917 to meet the evolving financial needs of local communities, we continue to honor that legacy by empowering and strengthening the neighborhoods where our customers and employees live and work.

With 30 branches across southeastern Massachusetts and Rhode Island, along with two commercial lending offices in Boston and Providence, HarborOne is dedicated to providing exceptional banking services and building lasting relationships. Our corporate values—accountability, integrity, respect, trust, and teamwork—are at the heart of everything we do. They guide how we manage our business and ensure we consistently deliver value to our customers.

At HarborOne, we believe in the power of opportunity. We offer our employees a fulfilling career with endless potential to learn, grow, and make a meaningful impact. More than just a workplace, we are a community dedicated to making a positive difference in the lives of those we serve.

Responsibilities:

Commercial Underwriting/Loan Documentation

• Under the direction of the RVP of Commercial Lending, this individual will communicate with customers, prospects, centers of influence, participant banks, lending officers and credit staff as required to obtain information necessary to analyze credit requests/renewals/modifications and to prepare credit approval memos in a timely fashion. 
• This position requires an individual with a demonstrated understanding of Bank Policies and Procedures and underwriting requirements for C & I, CRE and Small Business and SBA loans who can independently follow up on loan approvals.  Follow-up consists of preparing term sheets/commitment letters, preparing appraisal and environmental bid sheets, working with Loan Documentation and Servicing to review loan documents in preparation for closing, attending closings as required and monitoring construction loans ensuring compliance with Bank and loan approval requirements. 
• Assist lending officers in origination activities as directed and/or as needed. 
• Serve as a key resource /liaison working with lending officers in vetting prospective deals and approving credits within policy limits. 
• Demonstrate ability to work independently, concurrently manage multiple tasks and meet deadlines.
• Assist with Credit Quest administration & reporting as needed.

Asset Management

• Continually monitor and assess the status of assigned loan portfolios through periodic scheduled reviews, managing the timely receipt of updated financial information, the timely processing of renewals and extensions, the review of financial covenant requirements, and the accuracy of risk ratings. 
• When needed, communicate and/or meet with customers, centers of influence, and participant banks to request information necessary to complete annual/interim reviews. 
• When needed, work with lending officers to identify problem loans and potential problems. 
• Serve as a key resource working with lending officers in preparing and completing annual reviews and when necessary exit and/or workout strategies. 

Required Qualifications:

• 10 years of direct underwriting and portfolio management experience. 

• Knowledge of SBA and other similar government guarantee programs preferred. 

• Bachelor’s degree from a four-year College or University is preferred.

• Ability to read and interpret documents such as financial statements, tax returns, cash flow statements, AIA Forms and policy and procedure manuals. 

• Ability to write complex analyses, routine reports and correspondence. 

• Ability to speak effectively before groups of customers or employees of organization. 

• Ability to calculate figures and formulas such as debt service covenant, liquidity, leverage, loan to value and other financial ratios, percentages and other basic mathematical calculations. 

• Ability to apply common sense understanding to carry out instructions furnished in written, oral or diagram form. 

• Ability to deal with problems involving several concrete variables in standardized situations. 

• Ability to understand Bank core and loan underwriting systems, spread financial statements, prepare excel spreadsheets and utilize other standard software products as required

Compensation:

Offers will be determined based on job-related knowledge, skills, experience, and location.

Benefits:

At HarborOne, we value our employees and are committed to supporting their well-being both inside and outside of work. Our comprehensive benefits package is designed to help you thrive personally and professionally. Depending on your role, you may be eligible for:

• Paid vacation and sick time to support work-life balance
• Medical, Dental, and Vision insurance for you and your family
• Health Reimbursement Account (HRA) and Health Savings Account (HSA) options
• Healthcare Flexible Spending plans to cover medical expenses
• 401(k) plan with company contributions to help you save for the future
• Employee Stock Ownership Plan (ESOP) to invest in the company’s success
• Dependent Care Flexible Spending with a company contribution to support you and your family’s needs
• Company-paid Basic Life and Disability Insurance for added peace of mind
• Tuition reimbursement and tuition assistance programs to support your educational and career growth

Join HarborOne and take advantage of a benefits package that helps you achieve your personal and professional goals while making a difference in the communities we serve.

We are an equal opportunity employer. Applicants and employees are considered for positions and are evaluated without regard to mental or physical disability, race, color, religion, gender, national origin, age, genetic information, military or veteran status, sexual orientation, marital status or any other protected Federal, State or Local status unrelated to the performance of the work involved.