Lead Asset Recovery Specialist
7 days ago
At Western Alliance Bank, we are seeking an experienced Lead Asset Recovery Specialist to join our team. This critical role plays a pivotal part in recommending and managing internal and external action plans to resolve adversely graded loans, minimize bank loss, and maximize recovery and return to performing status.
Main Responsibilities:- Loan Analysis and Negotiation: Communicate with borrowers to identify reasons for problem loans and negotiate acceptable terms and conditions for reinstatement or curing default.
- Loan Servicing and Research: Calculate amounts owed on loans; prepare/review reinstatement and payoff statements, default notices, bankruptcy Proofs of Claim; perform loan and borrower research on loan servicing systems.
- Document Preparation and Coordination: Prepare loan assumption, forbearance, and loan modification documents; order and track all necessary third-party reports such as appraisals, environmental inspections, property profiles, title reports, invoices, etc.
- A Bachelor's Degree in accounting, finance, economics, business administration or other directly related field is required.
- 8 or more years of directly related commercial lending experience, with increasing responsibility for credit analysis and underwriting.
- Minimum of two (2) years of problem loan resolution (consumer and commercial), loan servicing, or related industry experience is preferred.
The salary range for this position is estimated to be $180,000 - $220,000 based on the location. In addition, the role may be eligible for annual bonus/incentives earned and restricted stock.
Benefits:We offer competitive salaries, an ownership stake in the company, medical and dental insurance, time off, a great 401k matching program, tuition assistance program, employee volunteer program, and a wellness program.
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