FRG Rep I

Description

Summary:

The Financial Recovery Rep develops workout strategy on classified (special asset) loans to minimize losses on a commercial loan portfolio. Position is contacting customers with delinquent loan payments, negotiating loan collection and/or restructuring, and recommending/overseeing litigation, liquidation and forecasting charge off and non-accrual.

Duties & Responsibilities

• Contact customers by phone to cure past due loans
• Identify reason for payment default
• Identifies position and remedies relative to bankruptcy cases
• Develops workout strategy to minimize non-accruals and charge offs. Increase recovery opportunities on current loan portfolio
• Document and maintain a complete and accurate record on accounts
• Establishes effective controls and processes to ensure risks are measured, monitored and controlled
• Oversees complex cases involving defense lawsuits. Provides direction to legal counsel and/or liquidators
• Review new legal and liquidation assignments and engages legal and or liquidation vendor to aid in recovery and loss avoidance
• Keeps abreast of risk-related law changes and legal precedent that may impact litigation or liquidation functions
• Performs other duties as assigned.

Basic Qualifications

• Bachelor's Degree or 2 additional years of experience in Lieu of degree
• 2 years of experience in liquidating assets held as collateral in a business banking and commercial loan portfolio
• High school diploma or equivalent required. Bachelor’s degree preferred.
• Adhere to Policy and Procedures. Maintain compliance with legal and regulatory requirements

Preferred Qualifications

• Proven ability to handle a fast-pace environment with minimal supervision
• Prioritize knowledge of US Bankruptcy laws
• Ability to identify banks position relative to potential risks associated with pursuing litigation and/or liquidation
• Ability to negotiate settlements, workouts and sale of security while adhering to state and federal regulations
• Multi-tasking, system skills/capabilities with previous knowledge of Lotus Notes, Excel and Word.
• Previous experience with AFS / CACS / Velocity / RIMS / CARS.