Milestone Bank · 7 hours ago
VP, SBA Portfolio Manager
United States
Full-time
Remote
Mid, Senior Level
5+ years expMilestone Bank is seeking a VP SBA Portfolio Manager to oversee the compliance and management of the Small Business Lending Department's servicing and processing operations. The role involves creating and implementing policies, ensuring adherence to regulations, and managing post-closing functions for SBA loans.
Customer ServiceFinanceFinancial ServicesRetail
Hiring Manager
Kristin Saracevic
Responsibilities
Responsible for the ongoing revision and maintenance to the divisions policy guidelines, ensuring adherence to dual control and risk mitigation practices as required on all maintenance related requests
Ensure compliance with existing procedure/policy related to the initial booking, quality control review, and proper funding of loans in accordance with internal and external loan program requirements
Ensure compliance with the ongoing maintenance, reporting, and tracking of tickler related covenants
Inclusive of reporting to executive mgmt. on trends and progress on a monthly basis
Oversee the proper funding and administration of accounts payables/receivables incurred by the Servicing Department, in addition to general expenses incurred by the larger SBA division
Ensure compliance with internal/external policy regarding the proper disbursement of funds, payment of expenses to third parties, and tracking of the same
Ensure proper reporting and payment administration via the 1502 portal
Direct interface with accounting in support of monthly reconciliation, tracking, and reporting of the same
Vendor manager for new and existing relationships in support of Servicing related 3rd party functions
Oversee and administrate the secondary market sale of newly originated loans
Responsible for creating and managing investor relations
Responsible for review and quality control of all required documentation in support of the sale process, to include proper approvals and reporting as directed by established internal controls
Reconciliation and reporting of both current and cumulative sales to Executive management, Accounting, and FP&A
Compile and analyze premium trends affected by changes in demand, interest rate sensitivity, and larger portfolio goals in support of monthly budget/goal review and forecasting with executive management
Ensure best in class servicing and loan maintenance functions for both internal and external customers, with an emphasis on customer facing interactions and activities
Oversee and administrate all Post Closing Compliance related activities, to include both internal and external 3rd party review, in support of adherence to internal policy guidelines, controls; SBA Loan program requirements (OCRM); and all other Federally regulated requirements
Create/implement/review/revise procedure and policy to ensure proper regarding the onboarding, review, and exception clearing processes
Responsible for ensuring the proper securitization of collateral as dictated by the approved loan structure, to include any time sensitive or reoccurring requirements
Manage 3rd party vendors utilized in support of securitization efforts
Ensure established procedures related to both physical and digital loan documentation are adhered to, inclusive of the consistency and continuity of documents throughout the of share drive, SPARK, and the system of record (PCFS)
Assist SVP of SBA Operations in any Audit related functions for the SBA division
Create/implement/review/revise procedure and policy as required to ensure the adherence to internal/external guidelines, strategic portfolio goals as directed by Executive Mgmt., and risk mitigation initiatives in conjunction with Credit Administration
Administrate continuing efforts to accurately monitor the performance of the portfolio, as well as identifying any potential impairment or potential loss related to adversely rated credits
Review and approve all maintenance and related requests (Servicing Requests) for borrowers, ensuring proper adherence to internal and external regulatory requirements and approved policy
Monitor proper risk rating profiles for all loans held in the portfolio, in part through the administering of annual reviews, problem Loan reporting, and general servicing requests
Administrate the proper tracking and resolution of ongoing tickler and exception related items in support of ongoing portfolio management
Monitor covenant and post-closing requirements related to insurance, property and associated taxes, licensing, and UCC filings
Create/implement/review/revise procedure and policy as required to ensure the adherence to internal/external regulatory requirements, identification and resolution of troubled or adverse credits, disposition of acquired assets and associated collateral, administration and collection of the SBA guaranty demand, and successful wrap up and referral of debtors for Treasury offset
Responsible for identifying and resolving adversely rated credits according to both internal and external regulatory requirements, with the goal of the maximum recovery in the most efficient amount of time possible, in conjunction with ensuring the eligibility for the SBA guarantee is maintained
Ensure compliance with all SBA reporting related requirements, to include the bi-annual status report, purchase demand package, Litigation and Liquidation plans (as required), CPC, and Wrap up reports
Monitor and approve expenses incurred in support of workout related activities, with ongoing reconciliation with the Accounting and Accounts Payable teams accordingly
Administration of quarterly monitored loan and grade change report in support of the quarterly Allowance for Credit Losses committee meeting
Administration and monitoring of the Adversely rated forecast report, in conjunction with Credit Administration and Executive mgmt. strategic objectives
Administration of all SBA Problem Loan Reports in support of Credit Committee objective, reviewed Quarterly
Responsible for administration of the following audit related activities:
FDIC-annually
3rd party review-annually
Internal Sox and loan policy review done Bi-annually
OCRM Audit (Varying levels) done annually in some capacity, but fully at least every 2-3 years
Resourceful in researching SBA’s SOP to determine eligibility questions and challenges
Following up with borrowers post-close to ensure post-close documents were received within the required timeframe as per post-close agreement
Other duties as assigned
Qualification
Required
Minimum of 5 years of experience in SBA loan closing or administration department
Strong written and verbal communication skills
A positive and collaborative approach with both peers and management
Versatility, flexibility, and a willingness to work on consistently changing priorities with enthusiasm
Outstanding people skills
Experience working in a time-sensitive environment
Excellent data entry and computer skills, including Microsoft Office products (Word, Excel)
Strong ability to grasp concepts and processes
High School Diploma or GED required
Preferred
Experience with SBA SOP 50 57 4, SBA forms and attorney prepared loan documentation is preferred
Bachelor's Degree preferred
Minimum of 3-5 years of experience in SBA Portfolio Management department or as an SBA Portfolio Manager is strongly preferred
Company
Milestone Bank
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51-200 employees
Funding
Current Stage
Growth StageTotal Funding
$20MKey Investors
Virgo Investment Group
2013-11-21Private Equity· $20M
Leadership Team
John Kemp
Chairman and CEO
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