DIR, Loan Workout
Date ActiveNov 3, 2022 3:00:17 PM
Hours Per Week40
LocationTwo Stamford Plaza-FF773
Job Description/ Requirements
If you’re looking for a meaningful career, you’ll find it here at Webster. Founded in 1935, our focus has always been to put people first--doing whatever we can to help individuals, families, businesses and our colleagues achieve their financial goals. As a leading commercial bank, we remain passionate about serving our clients and supporting our communities. Integrity, Collaboration, Accountability, Agility, Respect, Excellence are Webster’s values, these set us apart as a bank and as an employer.
Come join our team where you can expand your career potential, benefit from our robust development opportunities, and enjoy meaningful work!
- Director level workout professional with broad experience in managing a portfolio of adversely classified loans, with a focus on maximizing recovery and minimizing losses.
- Significant experience (at least 8 years) of managing adversely classified loans.
- Actively participate and lead such key processes (if requested) as Impairments, PAR, Key Credit Metrics and Watch and Worse for assigned portfolio.
- Operate as a senior member of the CLW Sponsor & Specialty team.
- Mentor junior colleagues and act as a Subject Matter Expert relative to working out adversely classified loans.
- Manage a portfolio of Leveraged Sponsor Loans and that have been classified and transferred to Commercial Loan Workout. Act as resource/Subject Matter Expert for other team members.
- Evaluate credit file information and develop plan for resolution of loans to minimize exposure for the Bank.
- Execute approved strategies in a timely manner, assessing success and revising proactively as needed during the workout process.
- Follow bank policies to identify deteriorating credits, non-performing loans, prepare impairment analysis, recommend write downs and report to senior management on a timely basis. Participate in quarterly portfolio reviews and watch list reviews.
- Coordinates with inside/outside legal counsel to protect Bank’s security and collateral; negotiate waivers and forbearance agreements; and document transaction restructurings in conjunction with approved workout strategy.
- Work effectively with internal partners and outside advisors as part of individual workout situations.
- Maintain complete, accurate and current electronic loan files for all assigned loans.
- Perform other duties as required and directed by the Senior Managing Director Business Banking/CLW.
Education and Experience:
- Knowledge of commercial lending practices, including loan structure, covenant and risk mitigates.
- Ability to work independently and determine appropriate prioritization aligned with organization goals.
- Sound judgment & analytical skills with self-maintained focus.
- Exceptional verbal and written communication skills with ability to interact using tact and diplomacy.
- Excellent organization / time management skills.
- Function effectively in a small team, recognizing all members are vital to the organization’s success.
- College Degree Preferred.
- Minimum 8 years’ experience in commercial lending or workouts.