Special Assets Team Lead- Loan Workout

JOB SUMMARY The Special Assets Team Lead is responsible for the workout and resolution of Classified C&I and commercial real estate / multifamily loans in order to preserve principal and minimize charge-offs, in accordance with Bank policies and procedures.

This position will manage a team of Special Assets Officers.

JOB RESPONSIBILITIES

• Manage a portfolio of loans that are transferred to the Special Assets Group.
• Participate in monthly status meetings with Sr. Management and provide cohesive workout strategies, concise updates on progress, and recommend non-accrual and charge-offs as necessary.
• Assess the financial condition and repayment capacity of borrowers facing difficulty repaying their loans. Analys loan documents, financial statements, credit reports and other relevant information to determine the appropriate course of action.
• Conduct risk assessments on potential workout scenarios, considering various factors such as market conditions, collateral valuation, borrower financials and legal implications.

Present findings and recommendations to Sr. Management to inform decision-making.

• Design and implement workout plans tailored to each borrower’s unique circumstances. Work with borrowers to understand their financial challenges and propose feasible solutions such as loan modification, refinancing, forbearance, or debt restructuring.
• Engage in negotiations with borrowers, legal representatives, and other parties involved in the loan workout process. Prepare and review legal documentation, including modification agreements, repayment plans, and other related documents ensuring compliance with regulatory and internal policies.
• Maintain effective communication and professional relationships with attorneys, loan officers, and other industry participants involved in the loan workout process, including litigation and bankruptcy.
• Stay updated with industry regulations, guidelines, and best practices related to loan workouts and ensure compliance. Adhere to internal policies, procedures, and legal requirements in the loan workout process.
• 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

• Performs special projects, and additional duties and responsibilities as required.
• Consistently adheres to regulatory and compliance policies and standards linked to the job as listed and complete required compliance trainings.

Accountable to maintain compliance with applicable federal, state and local laws and regulations.

JOB REQUIREMENTS

Required Qualifications :

• Education level required : Undergraduate Degree (4 years or equivalent) Business Administration, Finance or related field.
• Minimum experience required : 7+ Years within Special Assets / Loan Workout industry, preferably at an OCC regulated institution.
• Familiarity with various loan databases.

Preferred Qualifications :

10+ years of relevant work experience preferred.

Job Competencies :

• Strong knowledge of C&I, commercial and multifamily real estate management and development.
• Strong knowledge of regulatory guidelines concerning loan workout practices.
• PC proficient, particularly MS Word and Excel.
• Strong analytical and negotiation skills.
• Solid written and verbal communication skills.
• Ability to travel to inspect collateral property and meet with attorneys and borrowers.
• Physical demands (ADA) : No unusual physical exertion is involved.
2 days ago