Loan Workout Specialist 4

Hancock Whitney; New Orleans (LA); On-site; USD 65,000 - 90,000; Full time

Job summary

Hancock Whitney seeks a Loan Workout Specialist to monitor delinquent loans, advise on restructuring and recovery strategies, and coordinate with borrowers and advisors.

Bachelor’s degree in business/finance/accounting and 6 years in credit/collections are required. Strong underwriting, collateral recovery knowledge, and regulatory compliance are essential. Travel may be required as needed.

Qualifications

• Bachelor’s degree preferably in Business Administration, Finance, or Accounting
• 6 years of relevant experience in credit and/or collections
• Knowledge of sound credit, underwriting, and collateral recovery methods and procedures
• Thorough understanding of the legal system relating to loan collections
• Ability to travel if required to perform the essential job functions

Responsibilities

• Monitor commercial delinquencies weekly and coordinate with management
• Review and restructure credit and repayment terms with lenders
• Develop and implement strategies to recover principal from non-performing loans
• Prepare watch list reports and present to review committees
• Coordinate with legal counsel on all legal activities related to files
• Assist loan officers and managers with deteriorating accounts
• Ensure compliance with Bank Secrecy Act and related laws and regulations

Skills

Credit analysis

Collections

Loan recovery

Regulatory liaison

Education

Bachelor’s degree in Business Administration/Finance/Accounting

Job description

JOB FUNCTION / SUMMARY:

Loan Workout Specialists monitor delinquent commercial and/or consumer loans and advise, restructure/rehabilitate, collect, recover, convert and/or liquidate assets (usually adversely classified) assigned by management to limit losses.

ESSENTIAL DUTIES & RESPONSIBILITIES:

Monitors the commercial delinquencies weekly and in conjunction with management Works closely with officials of lending and borrowing institutions to review and restructure credit and repayment terms and to better secure collateral, attain an equity position, or otherwise establish recourse to other borrower assets Successfully manages multiple complicated and complex troubled credits/relationships. Develops and implements strategies to recover principal from borrowers whose non-performing loans have been charged off Reviews files assigned and develops a plan of action according to Bank and external policy/procedure and regulations. Communicates and coordinates with legal counsel both in-house and outside all legal activity associated with an assigned file. Reviews and evaluates appraisals (real estate or movables) as well as environmental reports relative to assigned accounts. Collects and incorporates all pertinent information for assembly into the department’s working and bank files. Drafts, updates, and presents watch list reports for review to watch loan and selected asset review committees. Initiates and participates in meetings with clients and many times their advisors, counselors, attorneys and CPA’s to address problems and develop solutions. Coordinates and facilitates interactions between various departments. Advises and assists loan officers and department managers with account deterioration and changes to approved plans of action. Incumbent is required to comply with all applicable federal, state, and local banking and industry related laws and regulations including but not limited to the Bank Secrecy Act.

SUPERVISORY RESPONSIBILITIES:

None.

MINIMUM REQUIRED EDUCATION, EXPERIENCE & KNOWLEDGE:

Bachelor’s degree preferably in Business Administration, Finance, or Accounting 6 years of relevant experience in credit and/or collections required Knowledge of sound credit, underwriting, and collateral recovery methods and procedures Knowledge of tax, legal, and Bank credit/loan policy Thorough understanding of the legal system relating to loan collections Ability to prevent losses and to turn around non-performing credits Ability to understand large and complex loans 1+ years of supervisory experience preferred. An equivalent amount of related training, education and experience may be considered

ESSENTIAL MENTAL & PHYSICAL REQUIREMENTS:

Ability to travel if required to perform the essential job functions Ability to work under stress and meet deadlines Ability to operate related equipment to perform the essential job functions Ability to read and interpret a document if required to perform the essential job functions Ability to lift/move/carry approximately 10 pounds if required to perform the essential job functions. If the employee is unable to lift/move/carry this weight and can be accommodated without causing the department/division an “undue hardship” then the employee must be accommodated; hence omitting lifting/moving/carrying as a physical requirement.

Equal Opportunity/Affirmative Action Employers. All qualified applicants will receive consideration for employment without regard to race, color, religious beliefs, national origin, ancestry, citizenship, sex, gender, sexual orientation, gender identity or marital status, age, physical or mental disability or history of disability, genetic information, status as a protected veteran, disabled veteran, or other protected characteristics as required by federal, state and local laws.