Acts as servicing officer for a portfolio of problem commercial or TAXI loans and deposit relationships. Performs the duties of a lending officer and has loan authority as designated by bank management. Administers and restructures problem loans and deposit relationships, including extremely complex situations, with very little managerial supervision, to assure optimal levels of principal, interest and expense recovery. Evaluates customer relationships to determine a Relationship Retention Plan and identifies opportunities to restructure and cross sell Bank products to maintain customer relationships where appropriate.
- Management responsibilities can include the TAXI< $500M team, which monitors TAXI criticized loans < $500M. Reviews portfolios quarterly, develops reporting for migration of accounts and manages delinquency.
- Acts as the primary servicing officer for a problem loan and deposit portfolio.
- Meets with problem loan customers on a regular basis, monitors financial performance, establishes action plans to correct problem issues, monitors collateral value and condition and provides continuous diligence to mitigate loss exposure to the bank.
- Interacts with other workout officers, lending officials, and borrowers to better secure collateral, equity, or other assets of the borrower.
- Daily control of overdrafts on deposit accounts related to portfolio.
- Performs daily administration of banking relationship and customer services issues.
- Determines most efficient overall deposit structure and identifies opportunities to cross sell Treasury Management and other Bank products to appropriate customers based upon Relationship Retention Plan.
- Evaluates financial information, collateral, legal documentation and other available information to project probable and maximum loss exposure to Bank.
- Is also responsible for analyzing and combining this information to develop an aggressive and comprehensive workout strategy to ensure optimal loss protection to the Bank in terms of both time and money while maintaining compliance with regulatory requirements.
- Consults with inside/outside legal counsel regarding perfection of collateral as well as necessary legal actions and strategies to protect Bank’s position.
- Negotiates loan and collateral documentation with third party counsel in conjunction with Lending Law.
- Analyzes third party legal documents and negotiates potential arrangements to determine an overall strategy to reduce the Bank’s loss exposure.
- Assumes “consulting” responsibilities for additional workout loans and deposit relationships from other departments as assigned by the Special Assets Section Manager.
- Acts as credit officer on a portfolio of consulting relationships with other departments.
- Documentation of status of relationship in compliance with existing policy.
- Maintains close control and accounting of expenditures as a vital component of departmental goal to limit loan losses and maximize loan recoveries.
- Negotiates and contracts with various professionals such as attorneys, appraisers, brokers, etc. to provide services of significant cost to ensure best cost/benefit return to Bank.
- Bachelor’s degree OR Military experience
- At least 3 years of commercial Lending experience
- At least 2 years of underwriting experience OR at least 2 years of credit risk management experience OR at least 2 years of loan workout experience
- 4 years of underwriting experience OR 4 years of credit risk management experience OR 4 years of commercial lending experience
- 3 years of Loan Workout experience