Senior Workout Specialist
Date ActiveSep 6, 2022 12:38:09 PM
Hours Per Week40
Location200 Executive Blvd South-HF433
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!
The Sr. Workout Specialist will manage a portfolio of adversely rated commercial loans. Primary responsibility is to work with borrowers and gather financial, collateral, budget, business plan and other general business information. The portfolio will include SBA guaranteed loans.
- Manage SBA guaranteed loans and collection in accordance with SBA SOPs and requirements. Act as resource for other team members on SBA matters.
- 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.
- Maintain complete, accurate and current electronic loan files for all assigned loans.
- Some travel may be required.
- Perform other duties as required.
Skills and Competencies:
- 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 3-7 years’ experience in commercial lending or workouts at an asset management firm, bank, servicing organization or law firm.
- SBA lending or workout experience.