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

1st Source•South Bend, IN

18h

About The Position

Responsible for managing the Loan Workout & Recovery department, including management and restructuring of large, complex, adversely graded problem loans and assisting the Workout Team with loans and repossessed assets assigned to the department. The primary focus is minimizing bank losses and managing expenses while supporting goals for strong credit metrics through attention to delinquency, nonperforming assets, and Special Attention loans. The role leads and supports loan workout activities, including developing recovery plans, negotiating with borrowers and other stakeholders, overseeing staff, monitoring portfolio performance, and coordinating with internal and external specialists. It also requires compliance with applicable laws, regulations, and position-related training requirements. Regular and predictable attendance is essential.

Requirements

At least six years of loan workout experience in banking, real estate, or another financial institution.
Management and supervisory skills.
Experience overseeing auctions and collateral liquidation.
Experience with bankruptcy, real estate, and state collection laws.
Experience with foreclosures and 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.
Understanding of loan accounting systems.
Proficiency using Microsoft Office, including Word, Excel, and PowerPoint.
Self-starter with good organizational skills.
Ability to meet specific deadlines and handle multiple tasks in a fast-paced environment.
Analytical and problem-solving skills with attention to detail.
Strong written and verbal communication skills.
Ability to travel to all locations and travel overnight as needed.
Bachelor’s degree preferred; business concentration preferred.
Regular and predictable attendance is essential.
Ability to sit, stand, and walk; operate a keyboard and other office equipment; reach with hands and arms; and talk or hear. Occasionally stoop or kneel and lift or move up to 10 pounds.

Nice To Haves

Eight years of experience, or equivalent experience in a related field.
Bachelor’s degree, preferably with a concentration in business.

Responsibilities

Manage and provide guidance to less experienced loan workout specialists.
Collaborate with bank personnel to review and restructure credit and repayment terms.
Work with workout officers, lending officers, credit personnel, and borrowers to develop and implement customized recovery plans, forbearance agreements, and restructurings for complex financial relationships.
Enhance collateral security to protect against potential charge-offs and provide guidance and support for loans in default.
Lead high-stakes negotiations with borrowers, guarantors, private equity sponsors, and other lender groups to secure repayment and protect the bank’s interests.
Coordinate with tax, legal, audit, credit/loan policy, and regulatory officials as needed to maximize recovery of nonperforming and charged-off loans.
Control, monitor, and recover loan expenses.
Develop and implement strategies to reduce non-performing assets and maintain portfolio quality.
Regularly report and analyze loan performance metrics to identify trends and address emerging portfolio risks.
Supervise assigned staff, including staffing decisions, performance appraisals, promotions, salary recommendations, and terminations.
Complete compliance training related to the position and comply with applicable laws and regulations.
Perform other duties as assigned.
Maintain regular and predictable attendance.