Commercial Workout Relationship Manager

Essential Duties And Responsibilities

• Manage a commercial loan portfolio of criticized credits from various Credit Union affiliates by interacting with attorneys, creditors, internal credit and policy officials, lenders and other third parties as necessary.
• Develops effective workout plans for commercial loans with established legal bounds in order to shield the organization from potential lender liability.
• Performs loan reviews of the problem credits with the ability to properly analyze any financial and or documentation issues.
• Evaluates, manages, and markets the Credit Union owned property including Other Real Estate Owned, in order to maximize financial return to the Credit Union.
• Consults on deteriorating credits, at the recommendation of Senior Management, Loan Committee or Loan Review committee and recommends the appropriate course of action to the Officer in handling a problem account.
• Absolutely monitors the progress of workout accounts and recommends any required changes in action necessary to minimize and prevent loss.
• Absolutely negotiates with Attorneys, Debtor companies, and other Creditors and Lending Employees to secure appropriate workout arrangements.
• Recommends accounting changes for nonaccrual and charged off loans.
• Works to develop workout vendors (i.e., Attorneys, Property Managers, Environmental Experts and others, as necessary, in all geographic regions in which the CUSO has exposure).
• Oversees less complicated workouts being administered by CUSO Liaisons.

Required Skills/Abilities

• Restructuring adversely graded loans (Special Assets)
• Works closely with officials of borrowing entities to secure collateral, preserve the loan principal, collect interest, and prevent the loan from further deterioration
• Works, collaborates with officials of borrowing entities to review, and restructure credit and repayment terms, secure collateral, attain an equity position, or otherwise establish recourse to other Borrower assets to prevent charge-off
• Manages the litigation process in coordination with inside and outside Counsel. Works closely with the CUSO’s Liaisons, Legal Department and Loan Operations
• Interacts with Senior Credit Union, Legal, Audit, Credit/Loan Policy, and Regulatory Officials
• Responsible for maximizing recovery of non-performing loans which have been charged off
• Reviews loan approvals, memorandums, financial statements, and credit reports. Research for additional information as needed
• Orders updated credit reports for new transfers. Determine what reports are required and complete requisition forms
• Prepares and distribute appropriate copies of form memos stating Loan Officer code changes
• Prepares documentation recommending change to loan risk rating. Provides brief history including the status of the loan along with basis to support recommendation of change
• Completion and distribution of change in loan risk rating
• Updates status and plan of action for Commercial Workout accounts list. Include status, plan of action, and time frame for follow-up purposes
• Prepares and send default/demand letters when required
• Reviews loan documentation identifying any areas of weakness and ensure compliance. Review loan policy and make suggestions for changes in the policy, as necessary
• Reviews current information, collateral, and status to determine likelihood of repayment. Determines alternatives or exit strategy
• Completes proposal of Workout strategy for Credit Union approval. Provides supporting documentation. Prepares letter of intent listing terms and conditions of Workout. Communicates terms and conditions with Attorney for approval. Makes changes, as necessary
• Covers the coordination with Attorney legal options, timeframe, and cost of litigation. Prepares documentation and action points
• Recommends loans to the Credit Union’s Asset Recovery Manager, to be placed on non-accrual and for charge-off
• Conducts periodic review of loans for charge-off. Completes memo outlining status and reason for recommendation
• Completes site visits to assess collateral
• Aids the Chief Credit Officer with reports for the Board and Senior Management
• Performs other duties as assigned

Education And Experience

• Bachelor’s Degree and/or Graduate Level in Business Administration, Finance, Accounting, or other related fields is required
• Broad knowledge of such fields as Banking, Accounting, Business Administration, Finance, etc.
• At least 6 years of Commercial and Industrial and/or Commercial Real Estate Lending Workout experience as an Individual Contributor is required