$128,091–$222,981 Per Year
Analysis Skills, Asset Management, Bank Management, Banking Regulations, Bankruptcy, Commercial Loans, Communication Skills, Credit Risk, Documentation, Federal Laws and Regulations, Financial Compliance, Financial Statements, Forebearance, Identify Issues, Leadership, Legal, Loan Collateral, Loan Portfolio, Loan Review, Loan Servicing, Loans, Maintain Compliance, Microsoft Excel, Microsoft Word, Negotiation Skills, Organizational Skills, Past Due Accounts, Performance Analysis, Portfolio Analysis, Presentation/Verbal Skills, Problem Solving Skills, Real Estate Appraisals, Regulations, Risk, Risk Management, Small Business, State Laws and Regulations, Strategic Planning, Tax Returns, Team Player, Time Management
Job Title: Commercial Lending Workout Specialist
Location: Turks Head, RI or Boston, MA
Salary Range: $128,091 - $222,981
Actual compensation within the pay range will be decided based on factors including but not limited to skills, prior relevant experience, and specific work location.
Principal Objective:
Reporting to the Director of Managed Assets, the individual will establish efficient and effective workout strategies on high-risk, negatively rated lending relationships. They will collaborate with Executive Management, the Director of Managed Assets, Regional leaders, and lenders from various lines of business with a goal of improving the overall corporate asset quality by developing strategies for minimizing losses, maximizing recoveries, and avoiding reputational harm in a cost-effective manner. Partner with Credit Risk colleagues, Loan Review, Legal, Loan Servicing, and other internal teams to ensure timely and accurate administrative, financial, and compliance reporting.
Primary Responsibilities:
- Monitors and manages assigned Commercial relationships to minimize delinquencies and loan losses through timely identification of problem accounts and the development of appropriate resolution-oriented work out strategies.
- Ability to perform the following:
• Act as the primary loan officer for a problem loan portfolio, including the daily control of overdrafts on deposit accounts related to the portfolio.
• Analyze and prepare written approval memorandums for waivers, amendments, restructuring, and forbearance agreements.
• Work closely with counsel to ensure negotiated arrangements are properly documented.
• Meet and communicate regularly and effectively with borrowers and provide summary memos to memorialize status changes and strategy recommendations to Bank senior management.
• Manage the Pre-workout process, including documentation evaluation, coordination of appraisals, and title searches on collateral property, and the engagement of appropriate legal counsel.
• Estimate loss exposure, ascertain accrual status, develop strategies to correct documentation deficiencies, and execute plans of action.
• Serve as the primary contact for all loan-related communications, including borrowers, bank participants, legal counsel, and internal stakeholders.
• Monitor borrower performance, financial condition, and covenant compliance to ensure timely risk rating adjustments and proactive issue identification.
• Prepare various monthly/quarterly required management reports on Commercial loans, including Watch Reports, Specific Reserve Analyses, and any and all applicable Credit Risk Gateway Forms.
Ensures Compliance:
Ensures compliance with all relevant federal and state banking laws, rules, regulations, and customary practices required to mitigate risk and uphold the appropriate ethical standards. The above description covers the most significant duties performed but does not exclude other occasional work assignments not mentioned, which would be in conformity with the factor degrees assigned to this job.
Job Specifications:
- Education: Bachelors degree required
- Relevant Industry Related Credit Training and Fluency: In customary CRE, C&I, and SBA structures and products
- Experience: At least 10 years of commercial lending and workout experience
- Proficiency: In MS Word, Excel
- Ability to Interpret Financial Statements and/or Tax Returns: Knowledge of bankruptcy, receivership laws, regulations, and relevant legal concepts related to restructurings, collections, and perfecting collateral
- Behavioral Skills:
• Possess a curious nature and polite skepticism
• Ability to maintain a professional demeanor and control emotions even in heated and difficult situations
• Excellent communication, negotiation, and presentation skills, in addition to strong analytical, organizational, investigative, and problem-solving skills required
• Must be flexible and have a consistent positive attitude with a desire to identify and work towards achieving the best possible resolutions for the organization
• Independent goal-oriented individual who can think creatively to solve complex problems
• Consistently demonstrate behaviors associated with Brookline Banks Core Four values: adaptability, accountability, leadership, and teamwork
Equal Opportunity Employer:
Berkshire Bank is an Equal Opportunity Employer - all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, or national origin. If you would like to contact us regarding the accessibility of our website, need assistance completing the application process, or would like to request alternative methods of applying, please contact us at
hr@berkshirebank.com
.