Loan Workout Specialist 4

Hancock Whitney•New Orleans, LA

About The Position

Loan Workout Specialists monitor delinquent commercial and/or consumer loans and advise on restructuring, rehabilitating, collecting, recovering, converting, or liquidating assets—usually adversely classified—to limit losses. The role manages complicated troubled credits and relationships, develops recovery strategies for charged-off non-performing loans, and coordinates with borrowers, lending institutions, legal counsel, and internal departments. The position also reviews collateral and account information, prepares watch-list reports, and assists loan officers and managers with deteriorating accounts and changes to action plans. The incumbent must comply with applicable federal, state, and local banking and industry regulations, including the Bank Secrecy Act.

Requirements

Bachelor’s degree, preferably in Business Administration, Finance, or Accounting.
At least 6 years of relevant experience in credit and/or collections.
Knowledge of sound credit, underwriting, and collateral recovery methods and procedures.
Knowledge of tax, legal, and Bank credit/loan policy.
Thorough understanding of the legal system relating to loan collections.
Ability to prevent losses and turn around non-performing credits.
Ability to understand large and complex loans.
Ability to travel if required to perform essential job functions.
Ability to work under stress and meet deadlines.
Ability to operate related equipment to perform essential job functions.
Ability to read and interpret documents as required to perform essential job functions.
Ability to lift, move, or carry approximately 10 pounds if required to perform essential job functions, subject to accommodation where applicable.
An equivalent amount of related training, education, and experience may be considered.

Nice To Haves

At least 1 year of supervisory experience.

Responsibilities

Monitor commercial delinquencies weekly in conjunction with management.
Work with officials of lending and borrowing institutions to review and restructure credit and repayment terms, improve collateral security, attain an equity position, or establish recourse to other borrower assets.
Manage multiple complicated and complex troubled credits and relationships.
Develop and implement strategies to recover principal from borrowers whose non-performing loans have been charged off.
Review assigned files and develop action plans consistent with Bank and external policies, procedures, and regulations.
Communicate and coordinate with in-house and outside legal counsel on legal activity associated with assigned files.
Review and evaluate appraisals of real estate or movable assets and environmental reports related to assigned accounts.
Collect and incorporate pertinent information into department working files and Bank files.
Draft, update, and present watch-list reports for review by watch loan and selected asset review committees.
Initiate and participate in meetings with clients and, as applicable, their advisors, counselors, attorneys, and CPAs to address problems and develop solutions.
Coordinate and facilitate interactions between departments.
Advise and assist loan officers and department managers regarding account deterioration and changes to approved action plans.
Comply with applicable federal, state, and local banking and industry-related laws and regulations, including the Bank Secrecy Act.