Director Loan Workout

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!

Job Summary:

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/ABL team. Mentor junior colleagues and act as a Subject Matter Expert relative to working out adversely classified

loans.

Job Responsibilities:

• Manage a portfolio of workout loans. Structures would include cash flow, ABL and collateralized loans. 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/CLW.

Experience:

Knowledge of commercial lending practices, including loan structure, covenant and risk mitigates.

• Knowledge of various loan structures, including cash flow, ABL, Equipment Finance and CRE.
• 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.

The estimated salary range for this position is $135000USD to $145,000USD. Actual salary may vary up or down depending on job-related factors which may include knowledge, skills, experience, and location. In addition, this position is eligible for incentive compensation.

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All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability or protected veteran status.