SSG Consumer Loan Account Officer Sr
What is the opportunity?
Under general supervision, this colleague is responsible for managing a portfolio of problem consumer, loans. Works in a team environment developing and recommending strategies to maximize recovery and reduce losses from own portfolio of commercial credits. Works closely with borrowers, executives, attorneys to review and restructure credit and repayment terms to better secure collateral, attain an equity position or charge-off the loan as appropriate. Performs other duties as requested.
What will you do?
- Investigate, analyze and evaluate the condition of the borrower to isolate problems in the credit. Develop strategies to maximize recovery and reduce loses from portfolios.
- Provide recommendations to the Team Leader about restructuring credits or presents exit strategy if restructuring is not possible within established time frames.
- Negotiate and interface with executives, attorneys and certified public accountants in developing an action plan to rehabilitate, if possible, or develop and implement an exit strategy for the credit.
- Create and prepare a variety of reports dealing with portfolio status and proposed action plans, performance tracking, forecasting losses, recommendations for charge-offs and other routine reports for area of responsibility.
- Coordinate with other Bank departments (e.g., ABL, RM, Legal, CLC) as well as external regulators, auditors, business finance companies and auctioneers to proactively pursue the best course of action for the Bank regarding adversely graded loans.
What do you need to succeed?
Required Qualifications
- Bachelor's Degree or equivalent
- Minimum of 7 experience consumer credit, preferably in a special situations environment.
- SAFE Act Registration: Must be in good standing under "The Secure and Fair Enforcement for Mortgage Licensing Act of 2008" (Safe Act) and must be registered/licensed with the "Nationwide Mortgage Licensing System and Registry"; or must be able to be registered under the Safe Act.
Additional Qualifications
- Strong working knowledge of loan restructuring and re-negotiation of interest rates, terms, collateral requirements, documentation and loan agreements.
- Excellent verbal and written communication skills to interact effectively with all levels of Bank personnel and customers.
- Must possess strong working knowledge of the Microsoft Suite.
What's in it for you?
Compensation: Starting base salary: $154,000 - $253,000 per year. Exact compensation may vary based on skills, experience, and location. This job is eligible for bonus and/or commissions.
Benefits and Perks: At City National, we strive to be the best at whatever we do, including the benefits and perks we offer our colleagues including:
- Comprehensive healthcare coverage, including Medical, Dental and Vision plans, available the first of the month following start date
- Generous 401(k) company matching contribution
- Career Development through Tuition Reimbursement and other internal upskilling and training resources
- Valued Time Away benefits including vacation, sick and volunteer time
- Specialized health and family planning benefits including fertility benefits, and cancer, diabetes and musculoskeletal support programs
- Career Mobility support from a dedicated recruitment team
- Colleague Resource Groups to support networking and community engagement
About Us
Since day one we've always gone further than the competition to help our clients, colleagues and communities flourish. City National Bank was founded in 1954 by entrepreneurs for entrepreneurs and that legacy of integrity, community and unparalleled client relationships continues today. City National is a subsidiary of Royal Bank of Canada, one of North America's leading diversified financial services companies.