Associate Corporate Counsel

Royal Credit Union•Eau Claire, WI

About The Position

Royal Credit Union is seeking an attorney experienced in commercial lending, loss mitigation, and banking law to join its Legal team. The Associate Corporate Counsel is primarily responsible for loss mitigation and workout activities for troubled business loan relationships and oversees advanced workout and legal actions. This includes developing, documenting, and implementing comprehensive strategies to resolve problem credit relationships or upgrade higher-risk loan relationships while limiting losses in accordance with regulatory guidelines and corporate procedures, policies, and goals. The role also manages Other Real Estate Owned (OREO) assets and develops and implements policies, procedures, and systems for managing and reporting loan workout activities. The Associate Corporate Counsel collaborates with Corporate Counsel, the Special Assets Administrator, Collection Manager, Business Lenders, the Credit Risk Officer, and external legal counsel to coordinate actions and strategies and achieve corporate goals. The position provides practical legal advice to facilitate informed decisions affecting loss mitigation and workout activities. This is an exempt-level, salaried position. The listed annual compensation is $112,028–$134,555 in the Eau Claire market and $128,918–$154,814 in Minnesota and the St. Croix Valley; candidates with significant related experience may be offered more. The normal schedule is generally Monday through Friday, 8:00 a.m. to 5:00 p.m., with additional hours as needed. New team members attend Foundation Training at the Corporate Center in Eau Claire, Wisconsin, from 9:00 a.m. to 4:30 p.m. on Monday and Tuesday during their first week, before beginning a normal work schedule. Eligible out-of-town learners may receive reimbursement for travel and lodging under Royal’s guidelines.

Requirements

Bachelor’s degree from an accredited university.
Juris Doctor degree from an ABA-accredited law school.
At least two years of experience as a practicing attorney in a law firm or in-house legal department, with experience in one or more of the following areas: collections, repossessions, foreclosure, bankruptcy, mortgage lending, commercial lending, general banking law, general corporate law, or general litigation in Minnesota and/or Wisconsin.
At least three years of commercial lending or business collection experience, or equivalent experience, including knowledge and experience with commercial lending workout techniques and structures.
Licensed to practice law in Wisconsin or Minnesota upon hire.
Strong analytical, problem-solving, organizational, judgment, and decision-making skills, including the ability to work independently, manage multiple priorities, meet deadlines, maintain quality, and achieve performance objectives.
Strong knowledge of commercial lending, credit analysis, credit risk mitigation, workout strategies, contract law, valuation methodologies, regulatory guidance, accounting principles, and legal practices related to foreclosure, repossession, and bankruptcy.
Strong written, verbal, and negotiation skills, including the ability to present information, respond to questions, and prepare clear and concise reports, correspondence, procedures, and presentations.
Ability to collaborate across all levels of the organization, provide professional guidance to leadership, and lead or participate in projects involving process evaluation, improvement, and implementation.
Knowledge of applicable federal and state regulations and policy guidelines.
Proficiency with business systems and Microsoft Office products, and ability to learn new technologies and use Royal’s digital solutions.

Nice To Haves

Five years of experience as a practicing attorney in a law firm or in-house legal department, with experience in one or more of the following: contract review and preparation, collections, repossessions, foreclosure, bankruptcy, mortgage lending, commercial lending, general banking law, general corporate law, or general litigation in Minnesota and/or Wisconsin.
Three years of experience working with commercial real estate appraisals and applicable regulatory standards.
Three years of experience overseeing and managing legal processes and regulatory standards related to workouts.

Responsibilities

Manage loss mitigation and workout activities for troubled business loan relationships and oversee advanced workout and legal actions.
Develop, document, and implement strategies to resolve problem credit relationships or upgrade higher-risk loan relationships while limiting losses and complying with regulatory guidance and corporate procedures, policies, and goals.
Manage Other Real Estate Owned (OREO) assets.
Develop and implement policies, procedures, and systems to manage and report on loan workout activities.
Coordinate actions and strategies with Corporate Counsel, the Special Assets Administrator, Collection Manager, Business Lenders, the Credit Risk Officer, and external legal counsel.
Provide practical legal advice to support informed decisions affecting loss mitigation and workout activities.

Benefits

Medical insurance
Dental insurance
Vision insurance
5% 401(k) employer match
Paid family leave
Paid sick leave
Vacation and sick time accruals
Childcare reimbursement
Tuition assistance
Student loan debt assistance
Pet insurance
Possible reimbursement of travel and lodging expenses for eligible out-of-town Foundation Training learners