Head of Market Management

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. 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. 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 team.

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. 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

This includes interviewing, training assigning and directing work; 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

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.

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 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. May also involve travel to customers and property locations.

The hazards are mainly those present in a normal office setting.

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.

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.

$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. Voluntary benefits include Supplemental Life Insurance, Accident, Critical Illness, Hospital Indemnity and Legal plans.

About Provident Bank For more than 180years, 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.

We get to volunteer in areas that are meaningful to the bank and impactful in the community.