Description
Manages the staff and functions of Workout and Collection; balancing the urgency to reduce non- performing assets and the cost of doing so in order to minimize loss. Monitors the portfolio and develops workout and rehabilitation strategies and action plans to better protect and improve the bank's position. Responsible for loan and lease restructuring, bankruptcy, legal enforcement and recovery/ repossession of equipment. Manages the impaired worksheet process. Negotiates settlements on all lease and loan products and has the authority to release liens on equipment. Maintains an understanding of all laws, regulations, and codes pertaining to areas of expertise and is called upon as a subject matter expert. Analyzes and determines effective strategies to handle non-accrual, Troubled Debt Restructure (TDR), and equipment repossession/recovery quickly and responsibly. Manages the portfolio of transactions that are serviced by other equipment finance companies. Provides reporting to management and to the bank's credit organization regarding the performance of the portfolio and all the aforementioned activities.
Essential Job Responsibilities
1. Manages the staff and functions of the Collection department; balancing the urgency to reduce non-performing assets and the cost of doing so in order to minimize loss.
2. Monitors the portfolio and develops workout and rehabilitation strategies and action plans to better protect and improve the bank's position.
3. Responsible for commercial equipment lease and loan restructuring, bankruptcy and repossession/recovery.
4. Manages the impaired worksheet process and ensures the accuracy of the reserve levels for impaired accounts.
5. Negotiates settlements on all loan products and has the authority to release liens on equipment or vehicles
6. Maintains an understanding of all laws, regulations, and codes pertaining to areas of expertise and is called upon as a subject matter expert.
7. Analyzes and determines effective strategies to handle non-accrual, account modifications, and
recovery of equipment quickly and responsibly.
8. Negotiates with outside vendors and attorneys in order to solve complex issues and/or when escalation to management is necessary.
9. Monitors, develops, and coaches staff on executing workout plans with individual customers.
10. Handles the workout and restructuring of the largest, most troublesome, and/or complex accounts.
11. Ensures that the collection practices are aligned with industry standards while striving to maintain delinquency thresholds.
12. Responds to internal and external audit questions as well as FDIC, BBB, and client inquiries.
13. Manages delinquency for transactions serviced by other equipment finance companies.
Bona Fide Occupational Qualifications
1. A Bachelor's degree in finance or a related field and/or equivalent experience required.
2. A minimum of ten (10) years related experience including management, a strong understanding of credit analysis, loan and lease documentation, workout and restructuring, bankruptcy and related legal issues is required.
3. Must possess strong analytical, problem solving, and negotiating skills.
4. Must possess a valid driver's license and have the ability to travel occasionally.
Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities
The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor’s legal duty to furnish information. 41 CFR 60-1.35(c)
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