Job Description

Who We Are

First Fed is a local community bank on an exciting growth trajectory with 17 locations including 12 full-service branches in Western Washington. First Fed was recognized by the Puget Sound Business Journal as a Best Workplace and a Top Corporate Philanthropist. By popular vote, First Fed received awards for Best Bank in The Best of the Northwest, Best Banker in Readers’ Choice by Cascadia Daily News, and Peninsula Daily News named us Best Bank on the Olympic Peninsula We also received a Best-In-State bank award from Forbes.

For over 100 years First Fed has served our customers and communities throughout the PNW. We’ve donated over $9 million to non-profit organizations in the past 8 years through our foundations, sponsorships, direct donations, and matched employee donations. Our amazing team has volunteered over 25,000 hours in the past 5 years – many by using our benefit of 3 paid volunteer days per year!

We welcome applicants from all backgrounds – our diversity makes us stronger. Join our award-winning team!

Our Values

Optimism We are positive and decisive. We believe the future will be better than the past. Our attitude demonstrates persistence which leads to success.

Initiative We are self-starters and find innovative solutions. We are courageous, entrepreneurial, and passionate. We take action for good.

Respect We include individuals from diverse backgrounds and with different perspectives. We are committed to honoring and serving others.

Growth We learn and adapt so we can continually improve. We believe in personal growth through grit and determination.

Ownership We are invested in our endeavors. We are accountable and take responsibility for our actions and decisions.

Position Purpose

The Commercial Portfolio Manager is responsible for analyzing and managing a portfolio of commercial credit relationships. This role combines direct client interaction, independent financial analysis, credit structuring, and ongoing risk monitoring. The position supports growth of high‑quality commercial loans while ensuring adherence to credit policy, regulatory expectations, and sound risk management practices.

Essential Functions

Loan Origination & Business Development

• Retain and expand on the existing loan portfolio, primarily through managing existing client relationships, with limited production expectations.
• Conduct initial screenings, assess borrower needs, and determine credit feasibility.
• Structure loan terms that balance client objectives with the bank’s risk appetite.
• Prepare and deliver proposals, term sheets, and presentations for customers’ new requests, renewals, and modifications.
• Collaborate with internal partners (treasury, deposits, cash management) to deepen relationships and cross‑sell services.

Credit Analysis

• Perform full financial analysis of commercial borrowers, including spreading financial statements, evaluating cash flow, leverage, liquidity, collateral, and industry risk.
• Develop comprehensive credit memoranda with clear recommendations, risk ratings, and mitigants.
• Conduct site visits, customer meetings, and collateral evaluations.
• Ensure compliance with internal credit policy, regulatory standards, and loan documentation requirements.
• Present credit requests to loan committees and respond to follow‑up questions.

Portfolio Management & Risk Monitoring

• Manage an assigned portfolio of commercial loans, ensuring credit quality, covenant compliance, and timely renewals.
• Monitor borrower performance through financial statement reviews, covenant tracking, and ongoing risk assessments.
• Identify early warning signs, recommend risk rating changes, and develop action plans for deteriorating credits.
• Oversee and ensure timely completion of annual reviews, renewals, modifications, and extensions.
• Maintain accurate and timely documentation, credit files, and system updates.
• Partner with loan operations, credit administration, and legal to ensure proper booking and servicing of loans.

Customer Relationship Management

• Serve as primary point of contact for borrowers, providing guidance on credit needs, banking services, and account management.
• Build long‑term relationships by understanding client industries, business models, and strategic goals.
• Resolve client issues promptly and coordinate with internal teams to deliver high‑quality service.

Operational & Compliance Responsibilities

• Ensure adherence to regulatory requirements (e.g., BSA/AML, fair lending, safety and soundness).
• Maintain portfolio data integrity and support internal/external audits.
• Participate in process improvements, credit policy updates, and system enhancements.

Qualifications & Requirements

• Bachelor’s degree in finance, business, accounting, or related field.
• 2+ years of experience in commercial lending, credit analysis, or portfolio management.
• Strong financial and credit analysis skills.
• Knowledge of commercial loan structures, collateral types, and regulatory expectations.
• Ability to manage multiple deals and deadlines with minimal supervision.
• Strong communication skills, including the ability to present credit recommendations clearly.
• Proficiency with financial spreading software, loan systems, and Microsoft Office.

Preferred Qualifications

• Experience with C&I, CRE, SBA, or specialized lending segments.
• Formal credit training program completion.
• Familiarity with risk rating models and covenant structures.
• Demonstrated ability to build and grow client relationships.

Physical Requirements

The work requires the ability to operate office machines and equipment, such as personal computers, printers, copying machines and telephones. The work requires the ability to communicate clearly with customers, coworkers, and others in person and on telephones. Work activities involve combinations of sitting/standing for extended periods.

Pay Range

• The pay range for this position is $80,200.00 - $134,689.07
• The typical hiring range for this position is $80,200.00 - $90,915.12
• The incentive plan for this position is the Commercial Incentive plan. It is paid out quarterly based on production.
• Employees will be eligible for our benefits package including medical, dental, and vision insurance, paid time off, retirement plans (401k with company match and Employee Stock Ownership Plan), gym membership reimbursement, discounts on our banking products, and more! Additional information on our benefits package can be viewed at https://www.ourfirstfed.com/careers

As a community Bank, we know the power in bringing people together from all walks of life. Our communities are beautiful and strong because of their diversity, and it’s important to us that all of our locations reflect the unique diversity of the places we live and work. We are passionate about hiring the very best talent and welcome applicants from all backgrounds. Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities

Qualified applicants will receive consideration without regard to their race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran

First Fed invites all qualified interested applicants to apply for our career opportunities. If you are a person with a disability and need a reasonable accommodation to use our online job search or application tools, please email Human Resources via teresa.yandl@ourfirstfed.com or call 360-460-2605. Note: This contact information is reserved solely for job seekers requesting accessibility assistance or accommodation in the application process. Messages left for other purposes may not receive a response.

We are required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights notice from the Department of Labor.