Loan Workout Specialist
About The Position
Wells Fargo is seeking a Loan Workout Specialist in Collections within Commercial Banking Operations. The role provides support to internal and external customers on complex initiatives involving collection portfolio data, with the goal of reducing delinquency and restructuring loans. The specialist evaluates risk, analyzes account information and financial statements, coordinates loan renewals, and negotiates with borrowers or attorneys to determine workout solutions. Responsibilities also include restructuring supervised loans, recovering charged-off loans, researching account equity, addressing title and collateral perfection issues, monitoring policy compliance and risk ratings, and identifying process improvements. The specialist reviews complex operational challenges, researches and evaluates alternatives for low- to medium-risk deliverables, and presents recommendations for complex situations using independent judgment. The role also includes coaching and training less experienced colleagues, participating in departmental projects, and collaborating with peers, colleagues, and managers. The position offers a hybrid work schedule and may require additional hours as needed. It is not eligible for visa sponsorship, and relocation assistance is unavailable.
Requirements
- At least 2 years of Loan Workout or Commercial Lending experience, or equivalent demonstrated through work experience, training, military experience, education.
- Ability to work additional hours as needed.
Nice To Haves
- At least 2 years of late-stage, high-dollar collections experience.
- At least 2 years of equipment finance and leasing experience.
- At least 1 year of supervisory experience.
- Experience coaching, training, and mentoring team members.
- Commercial banking experience.
- Ability to interpret and comprehend complex legal documents.
- Strong analytical skills with high attention to detail and accuracy.
- Ability to manage a pipeline of work from assignment to completion.
- Excellent verbal, written, and interpersonal communication skills.
- Experience resolving escalated and complex customer issues.
- Ability to organize and manage multiple priorities.
- Strong organizational, multitasking, and prioritizing skills.
Responsibilities
- Provide support to internal and external customers on complex initiatives involving collection portfolio data to reduce delinquency and restructure loans.
- Evaluate risk and analyze account information, including financial statements and the total customer relationship.
- Coordinate initial loan renewals and negotiate with borrowers or attorneys to determine workout solutions.
- Restructure supervised loans, recover charged-off loans, research account equity to determine full or partial charge-offs, and attend foreclosure sales.
- Research and determine resolutions for title and collateral perfection issues.
- Review and research complex operational challenges, evaluating and selecting alternatives for low- to medium-risk deliverables.
- Monitor portfolios for policy compliance and adhere to risk-rating requirements.
- Identify process improvement opportunities within the Loan Workout area.
- Present recommendations for resolving complex situations and exercise independent judgment while developing expertise in relevant functions, policies, procedures, and compliance requirements.
- Coach and assist less experienced colleagues.
- Provide issue-specific training and participate in departmental projects.
- Collaborate and consult with peers, colleagues, and managers to resolve issues and achieve goals.
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
Education Level
No Education Listed
