Late-Stage Collections Specialist I
CarringtonCrisp
Small Business Relationship Manager – Managed Assets
Eastern Bank
full-time
Posted on:
Origin: • 🇺🇸 United States • Massachusetts
Visit company websiteJob Level
Mid-LevelSenior
About the role
- Manage a high-volume portfolio of commercial criticized/classified relationships, generally less than $1MM including SBA loans.
- Manage workout relationships to minimize the risk of loss associated with an adversely rated commercial loan portfolio.
- Interact with borrowers, business partners across the bank, attorneys and other related professionals.
- Perform financial analysis, collateral evaluation and documentation review to maintain compliance and manage exposure to risk.
- Recommend approval of potential restructures and modifications to the appropriate credit authority.
- Coordinate the liquidation of assets including real estate, equipment, inventory, receivables, and vehicles; work with the Bank's SBA group on SBA guaranteed loans.
- Coordinate payment and collateral deficiencies with borrower and make judgments to protect the bank's interests and achieve maximum recovery.
- Interact with internal and external legal counsel and third parties to develop collection strategies and manage legal and other expenses associated with collection and liquidation.
- Ensure compliance with SBA SOPs for loan servicing and liquidation and collaborate with the SBA Group to prepare litigation plans, repurchase requests, '10 Tab' reports and wrap up reports.
- Oversee OREO and Note sales to minimize cost and maximize recovery.
- Responsible for ongoing reporting including covenant compliance monitoring, regular internal portfolio reporting and impairment reviews as necessary.
Requirements
- Bachelor's Degree
- Proven background in commercial banking and financial analysis.
- Minimum 5 years experience in commercial real estate and/or commercial lending, underwriting and/or analyzing loan transactions. Workout experience a plus.
- Formal bank credit training preferred.
- Understanding of banking laws and regulations and working knowledge of commercial collection laws.
- Excellent communication skills (verbal, written and presentation).
- Problem loan management and workout experience and related negotiation skills.
- Ability to solve problems and successfully articulate strategies to gain support.
- Incumbent should be able to excel with integrity in an entrepreneurial, team-oriented environment.
- Proficient/computer literate in Microsoft applications with the willingness/ability to learn new software as necessary.
