Loan Workout Spec III

SIMON•St. Louis, MO

2d•Onsite

About The Position

The Loan Workout Specialist III has broad lending experience and is capable of managing the largest and most complex loans in the Special Assets Department. This role involves interacting with borrowers, legal teams, and other bank officials to formulate and implement prudent workout strategies on adversely graded loans. The position requires strong credit and negotiation skills, and a thorough understanding of bankruptcy, foreclosure, and other workout-related legal proceedings. The specialist will analyze complex credit data and lending structures, and may consult with less experienced workout officers and business units on adversely graded loans.

Requirements

Ability to read and interpret documents such as procedure manuals, general business correspondence and/or journals or governmental regulations.
Ability to read, analyze and interpret complex financial reports and legal documents.
Ability to negotiate complex structures with sophisticated borrowers.
Ability to write routine reports and business correspondence.
Ability to respond in writing to customer complaints, regulatory agencies or members of the business community.
Ability to effectively present information in one-on-one and small group situations, to customers, clients and other employees in the organization.
Demonstrates advanced understanding of credit and underwriting and collection process and regulation
BS/BA Degree in Business, Finance, or a related field is required, or Eight or more years of credit or commercial lending experience with experience managing large lending relationships.
MS Office programs
Strong time management, oral, written, and presentation skills.
Strong credit and negotiation skills.

Nice To Haves

Consult less experienced workout officers and business units on adversely graded loans.

Responsibilities

Independently manage assigned credits to maximize collection of principal and interest to the bank.
Effectively manage lending relationships with complex credit data and lending structures.
Assist other lenders (including Special Assets officers) by consulting on the formulation of workout strategies.
Ensures documentation is adequate and the bank is perfected on any collateral.
Interacts closely with borrowers to remediate/mediate and restructure credit where appropriate.
Ensures collateral valuations are appropriate and timely in compliance with bank policy.
Consults with the bank’s legal counsel where necessary after analysis to determine solutions that are cost effective collection strategy for the bank.
Ensures risk ratings are appropriate and accrual status is compliant with Simmons’ policy.
Ensures all credit actions and communications with borrowers, bank counsel approvals, and documentation are appropriately scanned and indexed to the bank’s imaging system.
Completes collection efforts by pursuing guarantors for any deficiency or charge off.
Provides recommendations to the Special Assets Committee for approval, as required.
Ensures all departmental documents and activities are performed in compliance with applicable laws, regulations, policies and procedures as applicable to this position, including completion of required compliance training.
Performs other duties and responsibilities as assigned.