Middle Market Lending Jobs (NOW HIRING)

How would you like to join one of the most highly regarded financial institutions in New Jersey with deep roots in the community? Provident is a successful and highly regarded multi-billion-dollar bank that continues to grow with branches in New Jersey, Eastern Pennsylvania and New York. Our longevity is a testament to our commitment to placing our employees, customers, and the communities we serve at the center of all we do. At Provident Bank, we are committed to enhancing our customer and employees' experience.
POSITION SUMMARY:
Under general direction from the Group Credit Head - Middle Market and Specialty Lending, the Middle Market Underwriting Manager is responsible for managing the Middle Market Underwriting team and making underwriting recommendations, and risk rating recommendations within agreed policies pertaining to overall standards, credit quality, portfolio mix and asset classes. This manager will oversee a team of Middle Market Credit Analysts that will underwrite Middle Market line of business requests.
Middle Market Lending: This lending is focused on a variety of middle market clients and prospects across various non-specialized industries with revenues generally $50 million and greater. Credit facilities are typically working capital lines of credit, term loans, capital expenditure credit facilities, and owner-occupied real estate loans. Diverse industry and individual client assessment is needed to assess risks, structure loans appropriately, identify strengths, weaknesses, risks and mitigates associated with each opportunity, and navigate the regulatory landscape that may be specific to any borrower.
Leveraged Lending: Funding to support acquisitions, buyouts, leveraged recaps and other purposes that would result in cash flow leverage otherwise beyond that within Middle Market Lending. This lending also includes FDIC FIL-44-2012 High-Risk C&I Loans. Cash flow reliant financing with a primary focus on cash flow reliability, deleveraging ability, and enterprise value determination. Opportunity assessment requires a solid understanding of cash flow leverage, recurring cash flows, enterprise value, the appropriateness of leverage and valuation multiples specific to any borrower and industry, and the specific risks associated with such.
Shared National Credits and Agented Deals: This lending falls within the Middle Market and Leveraged Lending categories, obtained through participation in a larger Agent led credit facility or directly by the Bank as Agent and participated out to other banks to achieve a desired hold level. Assessment of these credits are the same as that within Middle Market and Leveraged Lending with a solid understanding of the syndicated loan market and bank participants to ensure market norms and conformity, and loan salability.
KEY RESPONSIBILITIES:

• Ensures timely turnaround of deals assigned to Credit Analysts through proper scheduling of assignments and balancing workload.
• Prepares quarterly report for the team, to be included in the Underwriting Departments report to management.
• Conducts periodic review, in line with company policies, of portfolios, policies and processes.
• Prepare performance reviews for the Middle Market Credit Analysts on the Middle Market Lending Underwriting team.
• Meets with the Group Head and lending team leaders to review workflow concerns and issues, interacts with lending team leaders on a daily basis to ensure consistent communication across lines of business.
• Review underwriting packages for Middle Market Lending credit analysts to ensure accuracy in loan analysis and risk rating, and adherence to loan policy.
• Manages day-to-day credit activities of the Middle Market Lending department workflow for the Commercial Credit Underwriting Department. includes interaction with Group/Department Heads on a regular basis.
• Reviews workflow and analysis product for efficiency and effectiveness as needed, will perform annual reviews of staff and handle warnings and any other disciplinary actions needed for the Middle Market Lending Credit Analysts.
• Acts as a mentor to the underwriting team and participate in special projects as assigned
• May be required to assist or underwrite complex credits from time to time as needed.
• Leads, develops and supervises the Middle Market C&I Credit Analyst team. This includes interviewing, training assigning and directing work; and addressing and resolving employee concerns.

MINIMUM QUALIFICATIONS:

• Bachelor's degree in accounting, Finance or Business Administration. MBA preferred
• Five to 10 years in banking or financial services industry with a minimum of 5 years directly in Credit with a focus on Middle Market and Leveraged Lending
• Prior lending and approval authority a plus
• Formal Credit Training preferred
• Prior Management Experience required
• Strong credit underwriting and risk analysis skills.
• Strong analytical skills with ability to highlight and mitigate risks.
• Comprehensive knowledge of commercial loan deal structures.
• Strong communication skills with the ability to effectively interact with department heads and lending officers and effectively assist in mentoring staff.
• Proficient in Commercial & Industrial middle market lending including debt service coverage, cash flow, cash flow leverage, and enterprise value and collateral coverage as applicable.
• Ability to conduct meetings, effectively present information and respond to questions from peers, auditors and various levels of management.
• Excellent managerial skills as well as the ability to exercise judgment and resourcefulness in resolving employee questions and issues.
• Excellent computer skills, including strong knowledge of and the ability to practically apply modern office software.
• Ability to prioritize multiple projects.

WORKING CONDITIONS
Work is mainly performed in a normal office environment. Noise levels usually are moderate. May also involve travel to customers and property locations.

• Prolonged sitting
• Lifting from 5 to 10 lbs. (printer paper, storage boxes)
• Occasional bending or overhead lifting (storing files or boxes)
• The hazards are mainly those present in a normal office setting.

This job description may not be all-inclusive. Employees are expected to perform other duties as assigned and directed by management. Job descriptions and duties may be modified when deemed appropriate by management.
Provident Bank recognizes and supports the importance of creating a socially and culturally diverse employee base. We understand, value, and appreciate the unique perspectives that a diverse workforce can contribute to our organization. We put the employee and the customer at the center of strategy because culture is a critical differentiator for why people choose to work here.
We are an equal opportunity employer, and all qualified applicants will receive consideration for employment without regard to age 40 and over, color, disability, gender identity, genetic information, military or veteran status, national origin, race, religion, sex, sexual orientation or any other applicable status protected by state or local law.
Pay Details:
$150,500 - $203,600 annually
Please note, the base pay actually offered may vary based upon the candidate's skills and experience, job-related knowledge, education, geographic location, internal equity, and other applicable business and organizational needs.
This role is incentive eligible based upon company, business, and/or individual goal achievement and performance.
Team members accrue paid time-off (PTO), receive Holiday (PTO) and are eligible to participate in the bank's Health and Wellness benefits including Medical, Dental and Vision Plans, Flexible and Health Savings Accounts, and a 401(k) Retirement Plan. In addition, the company provides Disability Insurance, an Employee Assistance Program, and Basic Life Insurance. Company sponsored Tuition Disbursement and Loan Repayment programs are also available. Voluntary benefits include Supplemental Life Insurance, Accident, Critical Illness, Hospital Indemnity and Legal plans.
About Provident Bank
For more than 180 years, Provident Bank has served individuals, families, and businesses in our local communities with personal and business banking services.
Volunteering is a Way of Life
Our brand promise - "Commitment you can count on" - supports the investments we make in the community and donations made by our employees. It's a promise also reflected in the volunteerism of our employees, who lend time and talent and countless hours to assist hundreds of organizations and thousands of people and animals each year.
Why do we love it?

1. We get to volunteer in areas that are meaningful to the bank and impactful in the community.
2. Through generous contributions, we have raised over $912,000 in 2022. No item or donation is too small; we find a home for it all.