Job Information
CIBC Commercial Real Estate - Portfolio Manager in Chicago, Illinois
We’re building a relationship-oriented bank for the modern world. We need talented, passionate professionals who are dedicated to doing what’s right for our clients.
At CIBC, we embrace your strengths and your ambitions, so you are empowered at work. Our team members have what they need to make a meaningful impact and are truly valued for who they are and what they contribute.
To learn more about CIBC, please visit CIBC.com (https://www.cibc.com/en/about-cibc.html)
JOB PURPOSE
The Portfolio Manager primary purpose is to ensure objectives related to credit underwriting and internal portfolio management are met, in addition to supporting the workflow of the Commercial Real Estate Team of RMs and commercial lending associates. This position will provide approval within established guidelines for daily credit/portfolio administrative activity.
KEY ACCOUNTABILITIES / RESPONSIBILITIES
The Portfolio Manager will be responsible for but not limited to the following activities.
Primary responsibilities for this position will be that of Underwriting and Portfolio Management and execution of 1A risk management activities in a manner consistent with CIBC’s risk culture.
Client Activities
Serve as the client’s primary contact/resource/advocate at the Bank for portfolio related issues/reporting/maintenance or new requests on existing credit
Renewal activities with existing clients – PM leading associated activities with RM input
Remain active and engaged in periodic client calls and visits for assigned portfolio
Maintain Salesforce pipeline on existing clients (draws, increases, paydowns, payoffs)
Client Onboarding/Closing
Loan closing process – responsible for driving the closing process with internal closing team and Portfolio Coordinator
Engage RM as needed; primarily with respect to material changes to negotiated business terms with the client
Underwriting/Credit Approval
Drives new transactions by leading activities related to New Deals Committee, Prescreen and initial term sheet negotiation. Responsible for the LP prior to submission for credit approval while providing direction to the relationship team.
Non-credit approval authority up to approved limits
Client Portfolio Maintenance
Work with CIS Relationship Support to update / correct identified data issues
Address upcoming maturities and annual reviews on time; help remediate payment past dues
Ensure all customer financial reporting / covenants are collected on time
Support closing team to ensure collection of outstanding loan document exceptions
Follow up on past due real estate taxes / insurance certificates to clear exceptions
Prepare CAMP reports and quarterly trend cards / reviews
Prepare FAS 114 memo / analysis
Complete quarterly SOX controls and ensure accurate risk ratings at all times for covered portfolio
Respond to approval requests for overdrafts, manual wires, NSF wires, ACH suspensions, etc.
Review borrowing base availability and approve loan advances
Perform loan structuring in support of underwriting and credit approval
Coordinate onboarding, deposit account opening and TM setup activities
Review pricing grid / tickler reports to ensure pricing and fees have been applied / adjusted correctly
Remain active and engaged in periodic client calls and visits for assigned portfolio
Renewal activities with existing clients – PM leading associated activities with RM input
Has direct client contact in performing responsibilities as needed in coordination with the Relationship Manager
Client Penetration/Cross Sell
Consults with the RM on cross-sell opportunities
Conducts pre-call planning and post-call follow-up
Management Responsibilities and Team Training
- Mentor and provide situational training support to Associates and Sr. Associates
Risk Management
- Support the GPM by supplying any required data for Credit Review or FRB/FDIC/OSFI during exams (i.e. review of specific credits)
At CIBC, we offer a competitive total rewards package. This role has an expected salary range of $110,000.00- $140,000.00 for the Chicago, IL or Atlanta, GA market based on experience, qualifications, and location of the position. The successful candidate may be eligible to participate in the relevant business unit’s incentive compensation plan, which also may include a discretionary bonus component. CIBC offers a full range of benefits and programs to meet our employee’s needs; including Medical, Dental, Vision, Health Savings Account, Life Insurance, Disability, and Other Insurance Plans, Paid Time Off (including Sick Leave, Parental Leave, and Vacation), Holidays, and 401(k), in addition to other special perks reserved for our team members.
Candidates hired to work in other locations will be subject to the pay range associated with that location. Additional total compensation and benefits details will be provided during the hiring process.
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What CIBC Offers
At CIBC, your goals are a priority. We start with your strengths and ambitions as an employee and strive to create opportunities to tap into your potential. We aspire to give you a career, rather than just a paycheck.
We work to recognize you in meaningful, personalized ways including a competitive salary, incentive pay, banking benefits, a benefits program*, a vacation offering, wellbeing support, and MomentMakers, our social, points-based recognition program.
Our spaces and technological toolkit will make it simple to bring together great minds to create innovative solutions that make a difference for our clients.
We cultivate a culture where you can express your ambition through initiatives like Purpose Day; a paid day off dedicated for you to use to invest in your growth and development.
*Subject to plan and program terms and conditions
What you need to know
CIBC is committed to creating an inclusive environment where all team members and clients feel like they belong. We seek applicants with a wide range of abilities and we provide an accessible candidate experience. If you need accommodation, please contact Mailbox.careers-carrieres@cibc.com
You need to be legally eligible to work at the location(s) specified above and, where applicable, must have a valid work or study permit.
We may ask you to complete an attribute-based assessment and other skills tests (such as simulation, coding, MS Office). Our goal for the application process is to get to know more about you, all that you have to offer, and give you the opportunity to learn more about us.
Job Location
IL-120 S LaSalle St, 11th Fl
Employment Type
Regular
Weekly Hours
40
Skills
Business Development, Client Service, Customer Experience (CX), Lending, Portfolio Management, Preparation of Financial Reports, Real Estate Financing
At CIBC, we are in business to help our clients, employees and shareholders achieve what is important to them. Our ability to create value for all CIBC stakeholders is driven by a business culture based on common values: Trust, Teamwork and Accountability.
Working with CIBC makes you a part of a work environment committed to our clients, employees and communities - a place where you can excel.
Every day, our 44,000 employees help our clients achieve their financial goals, because what matters to our clients, matters to us.