CREDIT ADMINISTRATION AND WORKOUT MANAGER - WATERFORD

First BanCorp•Miami, FL

11d

About The Position

The Credit Administration and Workout Manager monitors the loan portfolio, oversees loan documentation, handles special assets, and drafts procedures. The position is accountable for following the Bank’s BSA, AML, and OFAC policies and applicable unit procedures, reporting suspicious activity or transactions, and completing mandatory compliance training. The role supports credit underwriting and analysis for loan renewals and modifications, transaction closings, management of past-due and maturing loans, loan structuring, periodic credit reviews, covenant compliance, annual reviews, portfolio inspections, exception reporting, audits, waivers, amendments, and preparation of portfolio reports. It also follows up on pending or missing legal and other credit documentation, prepares visitation reports and default letters, and provides loan document information for secondary market and NLP portfolios. 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 and recovery strategies, manages collections and loan workouts, coordinates with borrowers, attorneys, investors, brokers, and loan officers, and monitors distressed-asset sales and closings. Duties also include preparing quarterly criticized-asset reports, underwriting and risk grading loan files, obtaining approvals for modifications and restructurings, attending mediations or depositions, and tracking deficiency judgments. The credit administration portion of the role includes loan monitoring and reporting, maintaining portfolio documentation, supporting SAG and Credit departments, monitoring SAG/REO, preparing and following up on reports, assisting with check requests, invoice payments and general-ledger reconciliations, processing deficiency payments, preparing Datamart validation and certification and TDR reporting, completing CRA submissions and credit-department logs, supervising credit administration officers or specialists, reviewing monthly tickler reports, and reviewing the accuracy of document uploads in the nCino system.

Responsibilities

Facilitate credit underwriting and analysis of existing loans for renewals and modifications.
Assist with facilitating transaction closings.
Assist in managing past-due and maturing loans.
Recommend and model appropriate loan structures for new and existing 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 file preparation and complete reviews on time.
Conduct annual portfolio inspections.
Respond promptly to open exception reports and loan-review audits, and support internal and external audits.
Review weekly reports and tickler files for the assigned portfolio.
Assist in preparing waivers and amendments.
Prepare commercial portfolio and other reports as needed.
Request and follow up on pending or missing legal and other credit documentation.
Prepare visitation reports summarizing property or client visits.
Provide loan-document information as required, including for secondary market and NLP portfolios.
Create and send default letters as required.
Perform other duties as needed to become familiar with all department areas.
Manage a portfolio of credit facilities secured by distressed commercial real estate and serve as its primary point of contact.
Develop and implement credit strategies to improve credit risk and loan recovery while following 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 assets.
Review and underwrite loan files for risk grading and workout identification.
Assist borrowers with identifying replacement lenders, managing collections, negotiating workout terms, early loan extinguishments at a discount, and coordinating legal efforts.
Work with investors, brokers, loan officers, and attorneys on sales of distressed assets and portfolios.
Monitor distressed-asset 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, reporting requirements, company and 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.
Monitor and handle SAG/REO matters.
Create and follow up on various reports.
Perform or assist with check requests, invoice payments, and general-ledger reconciliations.
Process deficiency payments.
Prepare Datamart validation and certification and TDR reporting.
Complete CRA submissions, appraisal ordering, and credit-department logs.
Supervise credit administration officers and specialists.
Review monthly tickler reports for accuracy, changes, and updates.
Review nCino system file-upload accuracy and approve designated document placeholders.
Follow applicable BSA, AML, and OFAC policies and procedures, report suspicious activity or transactions, and complete assigned mandatory training.