PORTFOLIO MANAGER I - RENEWABLE POWER & PROJECT FINANCE
WHAT IS THE OPPORTUNITY?
The Portfolio Manager is part of the credit management team focused on the long-term risk-adjusted returns for the bank within the assigned business segment and/or geographic area(s). This individual manages a sub-set of existing credits and is a key partner in the origination of new credits. Primary responsibilities include:
Provide comprehensive credit recommendations and presentations to key risk partners related to prospect(s) and existing clients of the bank (including moderate to complex new credit structures, modifications, and extensions) based on a comprehensive review of the borrower(s) and guarantor(s)' financials (which may include current and historical financial statements, tax returns, projections and/or cash flow proformas.)
This individual is expected to present credit recommendations within the bank's risk appetite and framework and follow the bank's policies, processes and procedures.
This individual is expected to be responsive to their clients' credit needs with an elevated level of client service and credit acumen to address their needs appropriately and timely.
This individual is responsible for the ongoing oversight and management of its portfolio (including timely risk rating assessments, reporting covenants, covenant compliance, and the preparation of quarterly and annual reports.)
WHAT WILL YOU DO?
Renewable Power & Project Finance
Provide financing for renewable power projects (primarily solar) sponsored or supported by strategic asset manager relationships within Specialty Banking.
Transaction @types include revolvers/TLs for project construction, delayed draw TLs plus ancillary products such as swaps and letters of credit.
Monitor and understand ongoing Federal and state regulatory and tax incentive changes to determine impact on the credit quality of the portfolio.
Prepare quarterly and annual reviews, review covenant compliance and evaluate amendments requested by the borrower.
Mortgage Warehouse Finance
Provide financing to a range of independent mortgage bankers from privately held to publicly traded. Products include mortgage warehouse lines and mortgage servicing lines.
Responsible for managing the credit and collateral activity.
Transactions include underwriting new deals, renewals, and modifications/ waivers
Daily monitoring of collateral, review and approval of loan level exceptions, and wire approvals.
Ongoing portfolio management including review of collateral, hedge reports, review of monthly financials and covenant compliance.
Franchise Finance
Provide financing for quick-serve restaurant franchise operators/owners.
Focus on top brands and larger operators with established track record through multiple economic cycles.
Transaction @types typically include buyouts, refinancings, growth capital, recapitalizations, add-on acquisitions, etc.
Underwrite leverage lending profiles and cash flow structures through projection modeling and enterprise value analysis.
Prepare quarterly and annual reviews, review covenant compliance and evaluate borrower amendment requests
Leveraged Lending
Provide customized financing solutions for PE sponsor owned middle market companies across a variety of industries.
Transaction @types include leveraged buyouts, refinancings, growth capital, recapitalizations, add-on acquisitions, etc.
Underwrite leverage lending profiles and cash flow structures through projection modeling and enterprise value analysis.
Underwrite asset leverage facilities to private debt funds, public & private BDCs, commercial real estate funds and multi-strategy funds.
Prepare quarterly and annual reviews, review covenant compliance and evaluate borrower amendment requests.
Fund Finance
Provide customized solutions for asset management clients in support of both their managed Funds and the capital needs of the Firm.
Transaction @types include (i) capital call facilities for managed Funds (RLCs used to bridge timing between fund investment acquisition and calling capital from LP investors) and (ii) RLCs/TLs directly to the asset management firm to support working capital, dividend distributions, general corporate purposes, GP investments and partner buy-outs.
Evaluate and monitor the credit quality of institutional and high net worth limited partners that are the primary source of repayment for capital call RLCs.
Prepare annual reviews, review covenant compliance and borrowing base advance requests, evaluate borrower amendment requests.
WHAT DO YOU NEED TO SUCCEED?
Required Qualifications
Bachelor's Degree or equivalent in Finance, Business, or related field
Minimum 4 years of progressively increasing credit underwriting and portfolio management experience in relevant industry/industries
Additional Qualifications
Basic experience in credit management and lending operations, with a strong understanding of risk management principles
Desire to build leadership and coaching skills, with the ability to train and develop talent
Strong communication and collaboration skills, with the ability to work effectively with senior leadership and cross-functional teams
Basic analytical skills, with the ability to interpret complex data and make informed decisions
Industry-specific knowledge and expertise
WHAT'S IN IT FOR YOU?
CompensationStarting base salary: $44.28 - $75.42 per hour. Exact compensation may vary based on skills, experience, and location. This job is eligible for bonus and/or commissions.
Benefits and Perks
At City National, we strive to be the best at whatever we do, including the benefits and perks we offer our colleagues including:
Comprehensive healthcare coverage, including Medical, Dental and Vision plans, available the first of the month following start date
Generous 401(k) company matching contribution
Career Development through Tuition Reimbursement and other internal upskilling and training resources
Valued Time Away benefits including vacation, sick and volunteer time
Specialized health and family planning benefits including fertility benefits, and cancer, diabetes and musculoskeletal support programs
Career Mobility support from a dedicated recruitment team
Colleague Resource Groups to support networking and community engagement
Get a more detailed look at our https://careers.cnb.com/benefits.
ABOUT US
Since day one we've always gone further than the competition to help our clients, colleagues and communities flourish. City National Bank was founded in 1954 by entrepreneurs for entrepreneurs and that legacy of integrity, community and unparalleled client relationships continues today. City National is a subsidiary of Royal Bank of Canada, one of North America's leading diversified financial services companies. To learn more about City National and our dynamic company culture, visit us at https://www.cnb.com/about-us.html.
INCLUSION AND EQUAL OPPORTUNITY EMPLOYMENT
City National Bank fosters an inclusive environment where all forms of diversity are valued and leveraged to make us a better company and employer. We are an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, religion, sexual orientation, gender identity, national origin, disability, veteran status or other basis protected by law.
It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.
*Represents basic qualifications for the position. To be considered for this position, you must at least meet the required qualifications. careers.cnb.com accepts applications on an ongoing basis, until filled.
Unless otherwise indicated as fully remote, reporting into a designated City National location is an essential function of the job.
