Commercial Workout Relationship Manager

Commercial Alliance; Troy (MI); On-site; USD 95,000 - 135,000; Full time

Benefits offered by this job

Competitive Compensation

Medical/Dental/Vision Benefits

Life Insurance

Paid Time Off including holidays ands

Employee Assistance Program

401k match

Tuition reimbursement

Job summary

Commercial Alliance seeks a Commercial Workout Relationship Manager for its Troy, MI location. You will develop workout plans for high-risk loans, coordinate with lenders, and position collateral to protect credit unions’ interests.

The role requires deep credit analysis, negotiation with attorneys and debtors, and thorough understanding of loan documentation, with a focus on recovering assets when restructuring is not feasible.

Qualifications

• Bachelor’s Degree in Business/Finance or related field required.
• 6+ years in Commercial/Industrial or CRE loan workout experience.
• Broad knowledge of Banking, Accounting, and Finance fields.
• Ability to respond to complex inquiries and calculate figures.
• Self-motivated and able to work independently.
• Excellent verbal and written communication skills.

Responsibilities

• Manage a commercial loan portfolio of criticized credits across Credit Union affiliates.
• Develop workout plans within legal bounds to shield the organization from liability.
• Perform loan reviews and analyze financial/documentation issues.
• Evaluate and market Credit Union owned property including Other Real Estate Owned.
• Consult on deteriorating credits and recommend appropriate actions.
• Monitor progress of workout accounts and adjust actions to minimize loss.
• Negotiate with Attorneys, Debtors, and Creditors to secure workouts.
• Coordinate with Attorneys on litigation options, costs, and timelines.
• Prepare and disseminate documents showing loan risk rating changes.

Skills

Restructuring loans

Collateral management

Credit analysis

Litigation coordination

Stakeholder coordination

Client communication

Education

Bachelor’s or Graduate Degree in Business/Finance/Accounting

Job description

Here at Commercial Alliance, we do more together. We thoughtfully prepare, we get stuff done, and we celebrate. Our colleague experience is second to none, attracting top talent from across the industry.

The Culture

• Supportive Teams
• Inspiring spaces to work, recharge and collaborate

The Benefits

• Competitive Compensation
• Medical, Dental, and Vision Benefits
• Life Insurance
• Paid Time Off: Including vacation, sick days, bereavement, jury duty, disability, and holidays
• Employee Assistance Program
• 401k Match
• Tuition Reimbursement

Position:Commercial Workout Relationship Manager

Location: Troy, MI

Job Id:172

# of Openings:1

COMMERCIAL WORKOUT RELATIONSHIP MANAGER

Commercial Alliance provides a comprehensive suite of lending services designed to help credit unions succeed with business members across six states. We are looking for an enthusiastic, self-motivatedprofessional to assist with our Special Assets Team.

The Commercial Workout Relationship Manager will Develop workout plans for potential high-risk loans while mitigating risk for the Credit Unions. Develop strategies to best position lenders and borrowers collateral, equity, other assets and loan documents. Perform analysis of credit relationships on the Credit Union’s watch list, collaborate with Loan Officers and ensure adequate loan loss reserves for classified credits. Ensure the Loan Workout function is conducted in accordance with all Credit Union policies, procedures, and applicable statutory and regulatory requirements. Emphasis is placed on recovery of assets if restructuring is not feasible.

ESSENTIAL DUTIES AND RESPONSIBILITIES

• Manage a commercial loan portfolio of criticized credits from various Credit Union affiliates by interacting with attorneys, creditors, internal credit and policy officials, lenders and other third parties as necessary.
• Develops effective workout plans for commercial loans with established legal bounds in order to shield the organization from potential lender liability
• Performs loan reviews of the problem credits with the ability to properly analyze any financial and or documentation issues
• Evaluates, manages, and markets the Credit Union owned property including Other Real Estate Owned, in order to maximize financial return to the Credit Union
• Consults on deteriorating credits, at the recommendation of Senior Management, Loan Committee or Loan Review committee and recommends the appropriate course of action to the Officer in handling a problem account
• Appropriately monitors the progress of workout accounts and recommends any required changes in action necessary to minimize and prevent loss
• Ability to effectively negotiate with Attorneys, Debtor companies, and other Creditors and Lending Employees to secure appropriate workout arrangements
• Recommends accounting changes for nonaccrual and charged off loans
• Works to develop workout vendors (i.e., Attorneys, Property Managers, Environmental Experts and others, as necessary, in all geographic regions in which the CUSO has exposure)
• Oversees less complicated workouts being administered by CUSO Liaisons

REQUIRED SKILLS/ABILITIES

• Restructuring adversely graded loans (Special Assets)
• Works closely with officials of borrowing entities to secure collateral, preserve the loan principal, collect interest, and prevent the loan from further deterioration
• On problem credits (Special Assets), works, collaborates with officials of borrowing entities to review, and restructure credit and repayment terms, secure collateral, attain an equity position, or otherwise establish recourse to other Borrower assets to prevent charge-off
• Manages the litigation process in coordination with inside and outside Counsel. Works closely with the CUSO’s Liaisons, Legal Department and Loan Operations
• Interacts with Senior Credit Union, Legal, Audit, Credit/Loan Policy, and Regulatory Officials
• Responsible for maximizing recovery of non-performing loans which have been charged off
• Review loan approvals, memorandums, financial statements, and credit reports. Research for additional information as needed
• Order updated credit reports for new transfers. Determine what reports are required and complete requisition forms
• Prepares and distribute appropriate copies of form memos stating Loan Officer code changes
• Prepares documentation recommending change to loan risk rating. Provides brief history including the status of the loan along with basis to support recommendation of change
• Completion and distribution of change in loan risk rating
• Initiates call to Borrower to discuss collection payment. Discuss the problem with the Borrower and options available to correct the problem. Prepare memo outlining what was discussed at the meeting
• Updates status and plan of action for Commercial Workout accounts list. Include status, plan of action, and time frame for follow-up purposes
• Prepares and send default/demand letters when required
• Reviews loan documentation identifying any areas of weakness and ensure compliance. Review loan policy and make suggestions for changes in the policy, as necessary
• Provides for Attorney review documentation outlining pertinent information and legal action being requested
• Reviews current information, collateral, and status to determine likelihood of repayment. Determines alternatives or exit strategy
• Completes proposal of Workout strategy for Credit Union approval. Provides supporting documentation. Prepares letter of intent listing terms and conditions of Workout. Communicates terms and conditions with Attorney for approval. Makes changes, as necessary
• Coordinates with Attorney legal options, timeframe, and cost of litigation. Prepares documentation and action points
• Recommends loans to the Credit Union’s Asset Recovery Manager, to be placed on non-accrual and for charge-off
• Conducts periodic review of loans for charge-off. Completes memo outlining status and reason for recommendation
• Performs site visits to assess collateral
• Assists the Chief Credit Officer with reports for the Board and Senior Management
• Performs other duties as assigned

EDUCATION AND EXPERIENCE

REQUIRED:

• Bachelor’s Degree and/or Graduate Level in Business Administration, Finance, Accounting, or other related fields is required
• Broad knowledge of such fields as Banking, Accounting, Business Administration, Finance, etc.
• At least 6 years of Commercial and Industrial and/or Commercial Real Estate Lending Workout experience as an Individual Contributor is required
• Ability to respond to complex or difficult inquiries or complaints from customers, regulatory agencies, or members of the business community
• Ability to calculate figures and amounts such as discounts, interest, commissions, proportions, percentages, area, circumference, and volume. Ability to apply concepts such as fractions, ratios, and proportions to practical situations
• Self-motivated and can work independently
• Excellent verbal and written communication skills

WHAT WE OFFER

Commercial Alliance offers exciting and challenging opportunities to thrive in a dynamic, collaborative, and innovative environment. As a member of our team, you'll benefit from a competitive salary and comprehensive benefits package. Additionally, you'll have access to unique opportunities for professional and personal growth, along with recognition and rewarding experiences.

Commercial Alliance is an equal opportunity employer. We prohibit discrimination and harassment of any kind based on race, color, religion, age, sexual orientation, national origin, disability, genetic information, pregnancy, or any other protected characteristic as outlined by federal, state or local laws.