Senior Workout Officer - Special Assets (Full Time) - DFW
About The Position
Responsible for managing a portfolio of problem loans consisting primarily of mid to large balance commercial and commercial real estate credits. The problem loan portfolio will consist of commercial and commercial real estate to include hospitality, convenience stores, rental properties, assisted or independent living facilities, church or other religion related, and construction loans, various secured and unsecured loans, participations/syndications, and energy loans. Some of these loans will include SBA 7A and 504 loans in addition to traditional bank originated loans. Also responsible for determining the cause of payment delinquencies, determining the appropriate collection action, and making recommendations to the Special Assets Manager. Familiar with all types of loan documentation, including perfection of liens, and will be responsible for ensuring that loans are properly documented before initiating legal action. A complete understanding of the legal process (foreclosure, litigation, bankruptcy, FDCPA, DTPA, etc.). Creativity in the recommendation of workout solutions, forbearance terms and loan restructures is required. In addition to direct portfolio management, be responsible for preparing periodic status reports to management, liquidation of collateral and recommending non-accruals and charge-offs.
Requirements
- Bachelor’s degree in Business Finance or equivalent experience.
- Minimum of five years of experience handling loss mitigation and default management on large commercial workouts.
- Moderate computer application skills; including Microsoft Office products such as Word, Excel, and PowerPoint.
- Excellent written and verbal communication skills.
- Solid knowledge of default management, loan workout, and loan servicing policies and practices.
- Demonstrated ability to make appropriate judgments and decisions with limited guidance.
- Ability to work independently with minimal supervision.
- Ability to quickly assess problem loan situations and implement solutions to resolve the problem.
- Full understanding of the legal process.
- Maintain professionalism when communicating with borrowers and others.
- Demonstrated ability to resolve conflicts and implement effective negotiation skills.
- Good organizational skills, or ability to prioritize and complete various tasks within deadlines.
- Ability to multi-task.
- Ability to apply common sense understanding to carry out detailed but uninvolved instructions and to deal with problems involving a few variables.
- Ability to maintain attention and concentration for extended periods of time.
- Ability to perform basic math skills, use decimals to compute ratios, percentages, and to draw and interpret graphs.
- Ability to use passive vocabulary of 5,000-6,000 words; read at a slow rate. And define unfamiliar words in dictionaries for meaning, spelling, and pronunciation.
- Ability to write complex sentences, using proper punctuation, and using adjectives and adverbs.
- Ability to communicate in complex sentences, using normal word order with present and past tenses and good vocabulary.
- Ability to make accurate inquiries with borrowers as to issues with problem loans in a firm and professional manner.
- Ability to overcome objections.
Nice To Haves
- Good familiarity with bankruptcies and understanding the differences between various chapters.
- Creativity in resolving complex credit problems.
Responsibilities
- Manage a portfolio of criticized or classified credits consisting of large, complex commercial or real estate loans. Portfolio may also include large consumer real estate or unsecured loans.
- Perform credit risk analysis.
- Make collection recommendations to Special Assets Manager regarding collection strategies.
- Prepare various collection letters to include demands, notices of acceleration, notices of offset, etc.
- Engage attorneys and manage the litigation process to Judgment.
- Make collection calls on past due loans.
- Negotiate workout terms on problem loans.
- Prepare forbearance agreements.
- Negotiate the sale of bank loans.
- Work with SBA department to document collection activities in compliance with SOP procedures.
- Coordinate SBA/CDC guaranty payment claims.
- Provide and complete accurate monthly reports to senior management.
- Maintain discretion and confidentiality in all phases of handling sensitive data or account information.
- All other duties as needed or required.
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What This Job Offers
Job Type
Full-time
Career Level
Senior
