Mgr, Workout

Webster Bank•Southington, CT

2d•$105,000 - $120,000

About The Position

If you’re looking for a meaningful career, you’ll find it here at Webster. Founded in 1935, our focus has always been to put people first--doing whatever we can to help individuals, families, businesses and our colleagues achieve their financial goals. As a leading commercial bank, we remain passionate about serving our clients and supporting our communities. Integrity, Collaboration, Accountability, Agility, Respect, Excellence are Webster’s values, these set us apart as a bank and as an employer. Come join our team where you can expand your career potential, benefit from our robust development opportunities, and enjoy meaningful work! Manager level professional with background in managing a portfolio of performing commercial loans, with familiarity in risk rating and commercial loan documentation. Support the management of a portfolio of adversely classified loans, with a focus on maximizing recovery and minimizing potential losses. Will assist in the monitoring and analysis of distressed credits, including reviewing financial information, borrower performance, and collateral. Participate in key credit processes such as Impairments, PAR reporting, Key Credit Metrics, and Watch and Worse reporting for the assigned portfolio. Operate under the guidance of senior members of the CLW Sponsor & Specialty/ABL team to execute workout strategies and resolve problem loans. Develop a strong working knowledge of workout concepts, policies, and procedures through hands on experience and guidance from senior team members.

Requirements

Knowledge of commercial lending practices, including loan structure, covenant and risk mitigates.
Knowledge of various loan structures, including cash flow, ABL, Equipment Finance and CRE.
Ability to work independently and determine appropriate prioritization aligned with organization goals.
Sound judgment & analytical skills with self-maintained focus.
Exceptional verbal and written communication skills with ability to interact using tact and diplomacy.
Excellent organization / time management skills.
Function effectively in a small team, recognizing all members are vital to the organization’s success.
College Degree Preferred
Minimum 5 years’ experience in commercial lending or workouts.

Responsibilities

Manage a portfolio of workout loans. Structures would include cash flow, ABL and collateralized loans.
Act as resource/Subject Matter Expert for other team members.
Evaluate credit file information and develop plan for resolution of loans to minimize exposure for the Bank.
Execute approved strategies in a timely manner, assessing success and revising proactively as needed during the workout process.
Follow bank policies to identify deteriorating credits, non-performing loans, prepare impairment analysis, recommend write downs and report to senior management on a timely basis.
Participate in quarterly portfolio reviews and watch list reviews.
Coordinates with inside/outside legal counsel to protect Bank’s security and collateral; negotiate waivers and forbearance agreements; and document transaction restructurings in conjunction with approved workout strategy.
Work effectively with internal partners and outside advisors as part of individual workout situations.
Maintain complete, accurate and current electronic loan files for all assigned loans.
Perform other duties as required and directed by the Senior Managing Director/CLW.