Credit Administration And Workout Manager - Waterford

FirstBank Puerto Rico•Miami, FL

About The Position

The Credit Administration and Workout Manager monitors the loan portfolio, oversees loan documentation, handles special assets, and drafts procedures. The role is accountable for following the Bank’s applicable BSA, AML, and OFAC policies and unit procedures, reporting suspicious activity or transactions through Bank processes, and completing required compliance training. The position supports credit underwriting and analysis for loan renewals and modifications, transaction closings, past-due and maturing loan management, loan structuring, periodic credit reviews, covenant compliance, annual reviews and portfolio inspections. It reviews financial information and portfolio reports, responds to exception reports and audit requests, prepares waivers and amendments, follows up on missing legal and other credit documentation, and prepares client and property visitation reports and other portfolio reporting. For the Special Assets Group (SAG), the manager serves as a primary contact for a portfolio of credit facilities secured by distressed commercial real estate. The role develops and implements credit strategies to reduce risk and maximize recovery, using options such as restructuring, cash paydowns, collateral pursuit, lender replacement, negotiated workouts, or discounted early loan extinguishment. It prepares quarterly Criticized Asset Reports, seeks approval for risk-appropriate modifications and restructurings, works with attorneys and other stakeholders, monitors distressed-asset sales and closings, tracks deficiency judgments, and may attend mediations or depositions. The Credit Administration responsibilities include monitoring loans and reporting requirements, maintaining portfolio documentation, supporting SAG and Credit departments, monitoring and handling SAG/REO matters, preparing and following up on reports, and assisting with check requests, invoice payments, general-ledger reconciliations, deficiency payments, Datamart validation and certification, TDR reporting, CRA submissions, and appraisal ordering and logs. The manager supervises credit administration officers or specialists and reviews monthly tickler reports and the accuracy of files uploaded to the nCino system. The position also reviews and approves specified loan and borrower documents and records.

Responsibilities

Monitor the loan portfolio and oversee loan portfolio documentation.
Handle special assets and draft procedures.
Facilitate credit underwriting and analysis for existing loans in connection with renewals and modifications, and assist with transaction closings.
Assist in managing past-due and maturing loans; recommend and model appropriate structures for new and existing loan relationships.
Prepare periodic reviews of existing loans to assess credit quality and covenant compliance.
Collect, receive, and review financial reports to monitor loan compliance and performance.
Assist with annual review files and complete reviews on time; conduct annual portfolio inspections.
Respond in a timely manner to open exception reports, loan review audits, and internal and external audit requests.
Review weekly reports and tickler files for the assigned portfolio.
Assist in preparing waivers and amendments and prepare commercial portfolio and other reports as needed.
Request and follow up on pending or missing legal and other documentation supporting credit assets.
Prepare visitation reports summarizing property and client visits.
Provide loan-document information as required, including for secondary-market and NLP portfolios.
Create and send default letters as required and perform other ad hoc duties to become familiar with department areas.
Serve as a primary contact for a portfolio of credit facilities secured by distressed commercial real estate assets.
Develop and implement credit strategies to improve credit risk and loan recovery while observing Bank policy and minimizing collection costs.
Use collection strategies including loan restructurings, cash paydowns, and pursuit of collateral.
Prepare detailed quarterly Criticized Asset Reports summarizing developments, operating results, risk profiles, and exit strategies for each facility.
Obtain approval for risk-appropriate loan modifications and credit facility restructurings.
Work regularly with attorneys to resolve distressed-asset matters.
Review and underwrite loan files for risk grading and workout identification.
Assist existing borrowers with identifying replacement lenders, managing collections, negotiating workout terms, extinguishing certain loans at a discount, and coordinating legal efforts.
Interact with investors, brokers, loan officers, and attorneys regarding sales of distressed assets and portfolios; monitor sales and closings.
Track deficiency judgments and assist with collections; attend mediations and/or depositions.
Coordinate with FirstBank Florida attorneys to negotiate, prepare, and review stipulation and forbearance agreements.
Monitor loans, internal and external reporting requirements, borrower information, and relevant events; support responses and resolutions for internal and external customers and departmental workflow.
Maintain loan portfolio documentation and support SAG and Credit departments, including SAG/REO monitoring and handling.
Create and follow up on reports; assist with check requests, invoice payments, general-ledger reconciliations, and deficiency-payment processing.
Prepare Datamart validation and certification and TDR reporting; complete CRA submissions, appraisal ordering, and credit department logs.
Supervise credit administration officers or specialists.
Review monthly tickler reports for accuracy, changes, and updates, and review nCino file-upload accuracy.
Review and approve designated loan and borrower records and documents, including financial statements, tax returns, compliance certificates, borrowing-base records, appraisals, loan documents, and workout agreements.
Adhere to applicable BSA, AML, and OFAC policies and unit procedures, report suspicious activity or transactions through Bank processes, and complete mandatory assigned compliance training.