Workout/Loss Mitigation Analyst I

Develops and executes Bank strategies and tactics to enhance the recovery of residential funding assets, mitigate the loss of such assets and ensure reasonable settlement arrangements for the assets.  Works on portfolios outside of the watch list, as directed by management.

Develops and executes workout plans and settlement arrangements for noncompliant projects within the Bank’s affordable housing portfolio.

Manages a portfolio of affordable housing projects that are currently on a watch list or in the troubled/distressed special assets category to ensure appropriate and timely identification and resolution of assets, by:

o       Initiating necessary workout actions to mitigate potential losses;

o       Working closely with the appropriate parties to create acceptable payment terms and conditions;

o       Initiating and assisting in legal actions to make collections on defaulted projects; and

o       Assessing activity for pursuing loans that are considered charge offs.

Provides leadership and management in the development of policies, procedures, strategies and delivery system for the workout, loss mitigation, and recovery processes in accordance with industry “best practices."

Conducts onsite visits to monitor the advancement of approved strategies and tactics.

Ensures the accuracy of monitoring and compliance reports to management, the Board of Directors, and the Federal Housing Finance Agency.

Applies the regulations promulgated by the Federal Housing Finance Agency and ensures compliance on an ongoing basis.

Performs periodic quality assurance reviews of affordable housing and community development program project files to ensure that required documentation is complete and available for review by internal auditors and Federal Housing Finance Agency examiners.

As directed by management, works on portfolios outside of the watch list.

Meets established performance metrics and standards.

Develops ad hoc reports to assist the Bank in tracking the progress and outcomes of job activities and responsibilities.

May participate in and/or coordinate completion of special projects.

A Bachelor’s degree in business, accounting, real estate finance, or economics or related major and a minimum of one year of experience directly related to working in commercial or residential real estate lending workouts, collections, etc. or the equivalent combination of education and experience.

Knowledge of regulatory parameters related to collection and loss mitigation within the commercial/residential real estate environment.

Experience in commercial and or residential real estate loss mitigation recovery.

Experience in bankruptcy, foreclosures, and liquidations.

Must be organized, detail-oriented, and able to work under limited supervision.

Strong analytical, communication, presentation, and problem-solving skills are required.