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Loan Workout Assets Specialist Full-time

at Community First Fund in Pennsylvania (Published at 02-12-2019)

ROLE:

  • The Asset Workout Specialist manages a portfolio of problem workout loan assets facilitating and developing action plans for the restructure, litigation, recovery, or exit strategy of problem loans to minimize exposure, mitigate risks, and maximizes asset recovery.

RESPONSIBILITIES:

1. Establish Contact with Borrower Clients, Guarantors, Third Party Service Entities, and Attorney(s)

2. Community First Fund and Community First Fund Capital Corporation Folders

3. Administrative Duties

4. Individual, Team & Company Participation

EXPECTATIONS:

1. Establish Contact with Borrower Clients, Guarantors, Third Party Service Entities, and Attorney(s)

a. Contact will primarily be by telephone, email, and face to face meetings as required from time to time

b. Conduct constant reports of progress on all workout actions to management.

c. Regular interface with inter departmental management and outside attorney(s) on all workout plans as required.

d. Accompany attorney in all court appearances if required.

e. Develop and document workout plans for problem borrowing relationships and maintain a dialogue with customers through written communication, telephone contact, and personal visits when warranted.

f. Working closely with outside counsel and others in enforcement proceedings, seeking to maximize the recovery of nonperforming assets. Attend bank judicial proceedings as required.

g. Manages and coordinates foreclosure actions on delinquent mortgages, and then coordinates with outside counsel, Chief Credit Officer, and Finance for final disposition.

h. Working knowledge of the Small Business Administration process and interact with SBA consultant as necessary.

2. Community First Fund and Community First Fund Capital Corporation Folders

a. Implement approved plans for restructuring loan agreements, liquidating collateral and maintaining reports for tracking purposes.

b. Assess status of loan collateral and develop current valuation reports in workout situations.

c. Coordinates with tax, legal, audit, and credit/loan policy departments as necessary to ensure compliance of negotiated workout agreements, within established company policies and regulatory agencies.

d. Maintain records required for SBA and Bank compliance and use in litigation process if needed.

e. Assess, recommend, enhance, and further develop workout process with written procedures for review and organizational approval.

f. Consistently reviews problem loan documentation (delinquent or bad debt accounts) for accuracy in workout situations.

g. Have documented problem loan action plans.

3. Administrative Duties

a. Responsible for written updates to management on recommended courses of action with documented follow up on all workout efforts.

b. Responsible for entering timely updates to the loan accounting system and client data base system where appropriate.

c. Review, evaluate, and recommend collateral release on successful problem loans resolution.

d. Notify SBA consultant to place SBA guaranteed problem loans into liquidation status when appropriate in addition to forwarding the required documentation to the SBA consultant so that an SBA guaranty claim can be prepared and submitted successfully to the SBA for consideration.

e. Monitors adherence to loan workout plans.

f. As required, follow and report updates on loans proceeding through the bankruptcy process.

g. Perform loan monitoring for loans on the Watch List and follow up regularly with borrowers on any workout plans.

h. Manage outside consultants and vendors.

i. Performs additional duties as assigned by manager and Chief Credit Officer.

4. Individual, Team & Company Participation

  • Quarterly Coaching Sessions and Annual Review Meeting
  • Department Meetings
  • Participates in other meetings (loan collection meetings, portfolio special asset meetings) requested by Loan Operations Manager, Chief Credit Officer, or CEO.
  • Opportunities Meeting, Quarterly Business Meeting, Sales Rally
  • Participate in training, assessments and surveys as required
  • Special Events Attendance & Support

Job Type: Full-time

Salary: $48,000.00 to $63,000.00 /year

Experience:

  • loan workout/asset recovery: 5 years (Required)
  • managing outside consultants: 5 years (Preferred)
  • business asset recovery and collateral preservation: 5 years (Required)
  • legal actions and process for non-performing business loans: 5 years (Required)
  • SBA lending and liquidation: 5 years (Preferred)
  • lending policy and practice: 5 years (Required)

Education:

  • Bachelor's (Required)

Required travel:

  • 50% (Required)

Application Question:

  • What is your minimum salary expectation?

Work Location:

  • One location

Benefits:

  • Health insurance
  • Dental insurance
  • Vision insurance
  • Retirement plan
  • Paid time off
  • Parental leave
  • Professional development assistance

This Job Is Ideal for Someone Who Is:

  • Dependable -- more reliable than spontaneous
  • Detail-oriented -- would rather focus on the details of work than the bigger picture
  • Achievement-oriented -- enjoys taking on challenges, even if they might fail
  • Autonomous/Independent -- enjoys working with little direction
  • Innovative -- prefers working in unconventional ways or on tasks that require creativity
  • High stress tolerance -- thrives in a high-pressure environment

This Company Describes Its Culture as:

  • Detail-oriented -- quality and precision-focused
  • Innovative -- innovative and risk-taking
  • Outcome-oriented -- results-focused with strong performance culture
  • Team-oriented -- cooperative and collaborative


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