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At OceanFirst Bank, each one of our employees plays an important role in fulfilling the mission and taking responsibility to execute daily tasks in alignment with our core values. Together we foster an environment of respect, professionalism and diversity that makes OceanFirst a great place to work and do business.
Great benefits include: on-site fitness facility at Red Bank and Toms River headquarter offices, hybrid schedule after initial onboarding has been completed (3 days in office, 2 days remote), employee perks & discount programs, tuition assistance, incentive compensation program, professional development opportunities, and more! Apply today to #BecomeOceanFirst and make an impact in the local community!
PRIMARY PURPOSE
In concert with SCO, directs all facets of construction loan processing from origination to closing. Perform independent analysis for commercial loan requests that are more of a complex nature; evaluate and make recommendation to approve, deny or offer alternative structuring solution; manage the Bank's most complex construction loans. Prepare written analysis and succinctly summarize underlying risk, and recommend risk rating. Identify and document any deviations from the Commercial Loan Policy as appropriate. Review analyses performed by Credit Analyst staff, and, if applicable, incorporate into overall risk assessment. Recommend and approve credit decisions within established authority in conjunction with Credit Officer if applicable. Ensure adherence to all applicable laws, regulations and company guidelines as detailed in the Bank's credit policy. Provide guidance to less seasoned Credit Portfolio Managers and Credit Analyst staff.
ESSENTIAL DUTIES AND RESPONSIBILITIES:
1. Direct all facets of construction loan processing from origination to closing.
2. Responsible for reviewing and/or negotiating Commercial Real Estate (CRE) loan documents, while protecting the Bank's interest, and providing management of a loan portfolio from the time the loans are approved until pay-off or maturity.
3. Manage the Bank's most complex construction loans. Prepare and manage construction budgets.
4. Partner with customers, attorneys, construction consultants and title company representatives, during all phases of financing and closing. Review third party reports for accuracy and relevant data.
5. Perform efficient and concise detailed analysis and quality underwriting of commercial/construction loan proposals including the most complex loans. Proactively and independently analyze and structure proposals and complete the underwriting and evaluation process. Identify loan structure alternatives and make recommendations on credit decisions. Be the final decision maker on credits within their individual lending authority. Ensure compliance with credit policy and underwriting requirements.
6. Maintain the overall credit quality of the region's loan portfolio by pro-actively identifying the impact of current economic and market trends on the portfolio; take appropriate action to mitigate and control risks. Identify and document any deviation from the Commercial loan policy as appropriate.
7. Discuss and review covenants and overall assessment with reviewers and establish turnaround/delivery requirements. Participate in customer meeting to provide expert analytical counsel and credit perspective.
8. Conduct thorough annual review of current portfolio clients including review of financials, site visits, and assessment of general business information and other factors that would be indicators of risk.
9. Perform analysis of secondary sources of repayment such as collateral; assess the quality and source of collateral marketability in a liquidation scenario.
10. Perform analysis of a guarantor's financial position through a thorough investigation of personal financial statements to develop an understanding of any contingent liabilities, and constructing an estimated personal net cash flow through the thorough investigation of personal tax returns and credit reporting documentation.
11. Prepare comprehensive written analysis for loan proposals including summary of financial statements, cash flow trends, management profiles, business and product cycles, operating performance and appropriate economic and market research.
12. Assign a credit risk rating.
13. Prepare in-depth loan package with detailed analysis and recommendations for presentation to reviewers and/or Management Credit Committee. Attend Management Credit Committee to provide input on overall assessment and answer questions regarding their credit analysis as necessary. May present credits to the Management Credit Committee.
14. In partnership with the Commercial Relationship Managers and Regional Managers, establish and maintain relationships with current and prospective customers. Leverage customer knowledge to proactively identify and recommend opportunities to cross-sell additional loan and non-credit products to clients.
15. Provide guidance to less seasoned Credit Portfolio Managers and credit analyst staff.
16. Ensure compliance of all required documentation and ensure loan terms and conditions adhere to established credit policy and approval. Ensure compliance with applicable federal, state and local laws and regulations, agency guidelines and organization policies.
17. Provide approval authority for commercial loans as specified by Loan Policy.
JOB SPECIFICATIONS:
Knowledge, Skills & Abilities
* Considerable knowledge of commercial real estate lending including letters of credit, borrowing base lending, multi-phased construction, and transactions secured by multiple collateral properties.
* Strong technical expertise in closing and loan management functions.
* Demonstrated ability to close commercial real estate loans and manage a commercial real estate loan portfolio.
* Knowledge of commercial real estate finance, law, documentation, accounting and data systems
* Thorough knowledge of commercial lending process including credit evaluation and underwriting expertise with proven success making independent credit assessments. Ability to analyze participation loans and other loans with complex covenant structures.
* Thorough knowledge and understanding of credit approval policy and process with the proven ability to accurately interpret lending policy and apply same to the management of the portfolio.
* Knowledge and understanding of qualitative portfolio analytics and metrics with the ability to utilize automated and manual analytical tools and techniques, including "what-if" scenarios and in-depth projective financial analysis to the most complex lending scenarios.
* Ability to identify and quantify business risks and the key drivers of risk and focus decisions accordingly.
* General understanding of bank's overall portfolio mix, concentration and exposure limits, risk philosophy. Ability to understand client industry and its fit into portfolio parameters
* Thorough knowledge of banking regulations and laws governing commercial lending.
* Strong written and oral communication skills with the ability to effectively communicate financial analysis detail in a clear, concise manner. Confident in the ability to present to senior management and/or Credit Committee as necessary.
* Ability to establish and maintain professional internal partner and external client relationships.
* Demonstrated ability to provide guidance and leadership to less seasoned staff.
* Strong organizational skills with ability to set priorities in a multi-task environment and meet deadlines.
* Demonstrated proficiency with Microsoft Office, with specific capability in Word and Excel.
* Ability to maintain the confidentiality of credit and customer information.
Experience & Education
- Bachelor's degree in Business Administration, Finance, Accounting or Economics, or equivalent work experience.
- 7+ years of experience in commercial lending environment with 5 years progressively responsible experience in credit evaluation, portfolio risk assessment and underwriting.
- 5 or more years of experience in commercial real estate loan administration.
Internal and External Contacts
- Internal contacts consists of customers in portfolio and Bank personal.
- External contacts consists of outside COI's including accountants and attorneys.
Working Conditions/Physical Requirements
Office environment. Ability to operate computer. Ability to communicate in order to exchange simple to complex information with individuals and groups. Ability to travel throughout Bank footprint.
For Recruiting Agencies
OceanFirst Bank does not accept agency resumes submitted by third-party vendors unless a valid agreement has been signed and the OceanFirst Bank Talent Acquisition Team has granted authorization for submissions regarding a specified position. Please do not forward resumes to us, OceanFirst Bank employees or any other company location. OceanFirst Bank is not responsible for any fees related to unsolicited resumes.
Equal Opportunity Employer
Minorities/Females/Veterans/Individuals with Disabilities/Sexual Orientation/Gender Identity