diff --git a/CHANGELOG.md b/CHANGELOG.md
index 3a327edf2..d266ea13f 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -44,9 +44,11 @@ and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0
 - Improved the language localization for Spanish (`es`)
 - Upgraded `bull-board` from version `7.0.0` to `7.1.5`
 - Upgraded `Nx` from version `22.7.1` to `22.7.2`
+- Increased the default timeout of the portfolio snapshot computation from 30 to 300 seconds to support portfolios with a large transaction history
 
 ### Fixed
 
+- Resolved a permanent internal server error on the portfolio and account endpoints by removing failed portfolio snapshot jobs from the queue so that a stalled computation is retried on the next request
 - Resolved an issue with the cash balance calculation of an account for `SELL` activities to ensure fees are correctly subtracted
 - Resolved an exception in the portfolio details endpoint when an asset profile is unmatched
 
diff --git a/libs/common/src/lib/config.ts b/libs/common/src/lib/config.ts
index 113dffe4a..0e3df727a 100644
--- a/libs/common/src/lib/config.ts
+++ b/libs/common/src/lib/config.ts
@@ -90,7 +90,7 @@ export const DEFAULT_PORT = 3333;
 export const DEFAULT_PROCESSOR_GATHER_ASSET_PROFILE_CONCURRENCY = 1;
 export const DEFAULT_PROCESSOR_GATHER_HISTORICAL_MARKET_DATA_CONCURRENCY = 1;
 export const DEFAULT_PROCESSOR_PORTFOLIO_SNAPSHOT_COMPUTATION_CONCURRENCY = 1;
-export const DEFAULT_PROCESSOR_PORTFOLIO_SNAPSHOT_COMPUTATION_TIMEOUT = 30000;
+export const DEFAULT_PROCESSOR_PORTFOLIO_SNAPSHOT_COMPUTATION_TIMEOUT = 300000;
 
 export const DEFAULT_REDACTED_PATHS = [
   'accounts[*].balance',
@@ -218,7 +218,8 @@ export const INVESTMENT_ACTIVITY_TYPES = [
 
 export const PORTFOLIO_SNAPSHOT_PROCESS_JOB_NAME = 'PORTFOLIO';
 export const PORTFOLIO_SNAPSHOT_PROCESS_JOB_OPTIONS: JobOptions = {
-  removeOnComplete: true
+  removeOnComplete: true,
+  removeOnFail: true
 };
 
 export const HEADER_KEY_IMPERSONATION = 'Impersonation-Id';