Loan Workout Spec III

SIMON • St. Louis, MO

92d

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 position involves interacting with borrowers, legal, and other bank officials to formulate and implement prudent workout strategies on adversely graded loans. The specialist must possess strong credit and negotiation skills and be well-versed in bankruptcy, foreclosure, and other workout-related legal proceedings. They will analyze complex credit data and lending structures and may consult 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 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.
• Strong time management, oral, written, and presentation skills.
• Strong credit and negotiation skills.

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.
• Ensure documentation is adequate and the bank is perfected on any collateral.
• Interact closely with borrowers to remediate/mediate and restructure credit where appropriate.
• Ensure collateral valuations are appropriate and timely in compliance with bank policy.
• Consult with the bank’s legal counsel where necessary after analysis to determine solutions that are cost-effective collection strategies for the bank.
• Ensure risk ratings are appropriate and accrual status is compliant with Simmons’ policy.
• Ensure all credit actions and communications with borrowers, bank counsel approvals, and documentation are appropriately scanned and indexed to the bank’s imaging system.
• Complete collection efforts by pursuing guarantors for any deficiency or charge off.
• Provide recommendations to the Special Assets Committee for approval, as required.
• Ensure 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.
• Perform other duties and responsibilities as assigned.

Benefits

• Career growth opportunities
• Wellness programs
• Dynamic culture recognized by publications

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: Bachelor's degree
• Number of Employees: 1,001-5,000 employees