Loan Workout Specialist
7 days ago
Overview
The Special Assets Team Lead plays a pivotal role in preserving principal and minimizing charge-offs on Classified C&I and commercial real estate/multifamily loans, adhering to Bank policies and procedures.
Job Summary
This position will manage a team of Special Assets Officers, overseeing a portfolio of loans transferred to the Special Assets Group. The ideal candidate should possess strong analytical and negotiation skills, with a solid understanding of regulatory guidelines concerning loan workout practices.
Responsibilities
- Portfolio Management: Manage a portfolio of loans transferred to the Special Assets Group, assessing the financial condition and repayment capacity of borrowers facing difficulty repaying their loans.
- Workout Strategies: Develop cohesive workout strategies, provide concise updates on progress, and recommend non-accrual and charge-offs as necessary.
- Risk Assessment: Conduct risk assessments on potential workout scenarios, considering various factors such as market conditions, collateral valuation, borrower financials, and legal implications.
- Collaboration: Engage in negotiations with borrowers, legal representatives, and other parties involved in the loan workout process, preparing and reviewing legal documentation.
- Talent Management: Responsible for talent management functions, including employment, performance evaluations, staff development/training, disciplinary actions, succession planning, and ensuring all staff comply with compliance requirements.
Additional Accountabilities
- Special Projects: Perform special projects and additional duties and responsibilities as required.
- Compliance: Consistently adhere to regulatory and compliance policies and standards linked to the job, complete required compliance trainings, and maintain compliance with applicable federal, state, and local laws and regulations.
Requirements
- Education: Undergraduate Degree (4 years or equivalent) Business Administration, Finance, or related field.
- Experience: 7+ Years within Special Assets/Loan Workout industry, preferably at an OCC regulated institution.
- Skillset: Strong knowledge of C&I, commercial and multifamily real estate management and development, regulatory guidelines concerning loan workout practices, PC proficiency, particularly MS Word and Excel, strong analytical and negotiation skills, solid written and verbal communication skills.
Estimated Salary: $230,000 - $310,000 per annum, depending on experience and qualifications.
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