Senior Loan Workout Manager, Loan Workout & Recovery, South Bend, IN

1st Source Bank•South Bend, IN

1d•Onsite

About The Position

Responsible for managing the Loan Workout & Recovery department. This includes managing and restructuring large, complex and adversely-graded problem loans as well as assisting the Workout Team in managing all the loans and repossessed assets assigned to the Workout department. The primary focus is to minimize losses (charge-offs) for the Bank while keeping expenses well managed. Entails a focus on delinquency, NPA’s and Special Attention loans to support the Banks’ goals and targets for strong credit metrics.

Requirements

Minimum of six (6) years loan workout experience in banking, real estate or other financial institution required.
Management and supervisory skills required.
Experience overseeing auctions and the liquidation of collateral.
Experience with bankruptcy, real estate, and state collection laws.
Experience with foreclosures, managing and selling real estate.
Working knowledge of banking regulations, credit approvals, loan documentation, collateral valuation, and banking policy.
Strong analytical skills to assess financial conditions and identify viable restructuring solutions.
Effective negotiation abilities are essential.
Understands loan accounting systems.
Computer user proficiency with Microsoft Office (Word, Excel, Power Point).
Self-starter, good organization.
Ability to meet specific deadlines.
Ability to handle multiple tasks in a fast-paced environment.
Analytical and problem-solving skills with attention to detail.
Strong written and verbal communication skills.

Nice To Haves

Eight (8) years of experience preferred or equivalent experience in a related field preferred.

Responsibilities

Manages and provides guidance to less experienced loan workout specialists.
Collaborates with various Bank personnel to review and restructure credit and repayment terms.
Engages with loan workout officers, lending officers, credit personnel and borrowers to develop and implement customized recovery plans, forbearance agreements, and loan restructurings for complex financial relationships including enhancing collateral security as protection against potential charge offs and offer guidance and support for loans in default.
Leads high-stakes negotiations with borrowers, guarantors, private equity sponsors, and other lender groups to secure repayment.
Responsible for successfully collaborating with borrowers and internal stakeholders to reach favorable outcomes that protect the bank’s interests.
Coordinates with tax, legal, audit, credit/loan policy, and regulatory officials as needed and works to maximize recovery of nonperforming and charged-off loans.
Controls, monitors and recovers loan expenses.
Responsible for development and implementation of strategies to reduce non-performing assets and maintain portfolio quality.
Regular reporting and analysis of loan performance metrics to identify trends and proactively address emerging risks within the portfolio.
Responsible for the supervision of assigned staff and exercises the usual authority of a manager concerning staffing, performance appraisals, promotions, salary recommendations, and terminations.
Responsible for the completion of all compliance training related to the position.
Must understand all applicable laws and regulations that apply to the position and comply with the requirements.
Performs all other duties as assigned.