Special Assets Workout Officer

4 weeks ago


Birmingham, Alabama, United States Better Hire Full time
Job Summary

This position is responsible for managing the Bank's high-risk loan portfolio and overseeing the activities of the Collections Department. The successful candidate will be responsible for maximizing the recovery of principal, interest, fees, and expenses of all classified loans and OREO assets.

Key Responsibilities
  • Conduct periodic account reviews and financial analysis on borrowing relationships, borrower's ability to repay, evaluate the collateral and assets of the borrowers, and develop action plans accordingly.
  • Work effectively with legal counsel in the timely resolution of problem credits and mitigation of legal risk to the bank.
  • Evaluate collateral, review appraisals, and ensure that loan documentation meets with and complies with Bank policy requirements and that transactions are correctly booked.
  • Effectively interact with borrowers in the negotiation and design of appropriate workout strategies.
  • Make site visits and field calls to meet with borrowers and inspect the collateral.
  • Oversee, review, and manage the workout recommendations, action plans, and performance of Special Asset officers and Commercial Collectors assigned to the Group.
  • Assist in the management of the Watch List and its reporting; ensure the appropriate risk ratings of credits assigned to the Group and the appropriateness of relationship strategies for all Watch List credits.
  • Provide assistance and leadership to relationship managers in the management and resolution of problem credits that may be managed outside of the Special Assets Group.
  • Participate in Consumer Delinquency meetings, Commercial Delinquency meetings, Watch List Committee meetings, and other forums to keep bank management informed about the status of the troubled loan portfolio and anticipated losses or potential exposures.

Requirements
  • Bachelor's Degree in business, accounting, finance, economics or a related field
  • Minimum of ten years of directly related experience in problem loan management, credit workout, collection management or other related areas
  • Minimum of five years additional experience in commercial lending, credit analysis, underwriting, credit administration or portfolio management strongly preferred

Preferred Qualifications
  • Strong working knowledge of loan structuring of commercial and residential real estate, A/R, inventory, equipment, borrowing base, capital financing, and other commercial transactions
  • Strong working knowledge of bankruptcy and business law and the ability to work through complex commercial transactions
  • Ability to manage multiple tasks and prioritize effectively and in a cost-efficient manner
  • Excellent analytical skills and high attention to detail
  • Ability to effectively manage and mentor staff, set goals, and manage departmental budget
  • Ability to travel within the bank's lending footprint required
  • Excellent written and oral communication skills with the ability to formulate and articulate objective views based on professional analysis
  • Excellent computer skills relevant to Microsoft Office Suites (i.e. Word, Excel, Outlook) and related departmental and analytical software

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