Loan Workout Specialist

JOB FUNCTION / SUMMARY:

Loan Workout Specialists monitor delinquent commercial and/or consumer loans and advise, restructure/rehabilitate, collect, recover, convert and/or liquidate assets (usually adversely classified) assigned by management to limit losses.

ESSENTIAL DUTIES & RESPONSIBILITIES:

Monitors the commercial delinquencies weekly and in conjunction with management

Works closely with officials of lending and borrowing institutions to review and restructure credit and repayment terms and to better secure collateral, attain an equity position, or otherwise establish recourse to other borrower assets

Successfully manages multiple complicated and complex troubled credits/relationships.

Develops and implements strategies to recover principal from borrowers whose non-performing loans have been charged off

Reviews files assigned and develops a plan of action according to Bank and external policy/procedure and regulations.

Communicates and coordinates with legal counsel both in-house and outside all legal activity associated with an assigned file.

Reviews and evaluates appraisals (real estate or movables) as well as environmental reports relative to assigned accounts.

Collects and incorporates all pertinent information for assembly into the department’s working and bank files.

Drafts, updates, and presents watch list reports for review to watch loan and selected asset review committees.

Initiates and participates in meetings with clients and many times their advisors, counselors, attorneys and CPA’s to address problems and develop solutions.

Coordinates and facilitates interactions between various departments.

Advises and assists loan officers and department managers with account deterioration and changes to approved plans of action.

Incumbent is required to comply with all applicable federal, state, and local banking and industry related laws and regulations including but not limited to the Bank Secrecy Act.

SUPERVISORY RESPONSIBILITIES:

None.

MINIMUM REQUIRED EDUCATION, EXPERIENCE & KNOWLEDGE:

Bachelor’s degree preferably in Business Administration, Finance, or Accounting

6 years of relevant experience in credit and/or collections required

Knowledge of sound credit, underwriting, and collateral recovery methods and procedures

Knowledge of tax, legal, and Bank credit/loan policy

Thorough understanding of the legal system relating to loan collections

Ability to prevent losses and to turn around non-performing credits

Ability to understand large and complex loans

1+ years of supervisory experience preferred.

An equivalent amount of related training, education and experience may be considered

ESSENTIAL MENTAL & PHYSICAL REQUIREMENTS:

Ability to travel if required to perform the essential job functions

Ability to work under stress and meet deadlines

Ability to operate related equipment to perform the essential job functions

Ability to read and interpret a document if required to perform the essential job functions

Ability to lift/move/carry approximately 10 pounds if required to perform the essential job functions. If the employee is unable to lift/move/carry this weight and can be accommodated without causing the department/division an “undue hardship” then the employee must be accommodated; hence omitting lifting/moving/carrying as a physical requirement.