Senior Loan Workout Lead - Turnaround & Recovery

1st Source Corporation; South Bend (IN); Vor Ort; USD 90.000 - 130.000; Vollzeit

Zusammenfassung

1st Source Corporation is seeking a senior professional to lead the Loan Workout & Recovery department. You will manage complex problem loans, guide a team, and coordinate with legal, tax and regulators to maximize recoveries while controlling costs.

The role emphasizes sophisticated negotiations with borrowers and stakeholders, development of recovery plans, and reporting on portfolio performance to sustain credit quality.

Qualifikationen

• Eight (8) years of experience preferred or equivalent in a related field.
• Minimum of six (6) years loan workout experience in banking, real estate or other financial institution.
• Management and supervisory skills required.
• Experience overseeing auctions and the liquidation of collateral.
• Experience with bankruptcy, real estate, and state collection laws.
• Experience with foreclosures, managing and selling real estate.
• Working knowledge of banking regulations, credit approvals, loan documentation, collateral valuation, and banking policy.
• Strong analytical skills to assess financial conditions and identify viable restructuring solutions.
• Effective negotiation abilities are essential.
• Understands loan accounting systems.
• Self-starter, good organization.
• Ability to meet specific deadlines.
• Ability to handle multiple tasks in a fast-paced environment.
• Analytical and problem-solving skills with attention to detail.
• Strong written and verbal communication skills.

Aufgaben

• Lead and supervise loan workout specialists and guide less experienced staff.
• Collaborate with bank personnel to review and restructure credit and repayment terms.
• Develop and implement customized recovery plans, forbearance agreements, and loan restructurings for complex relationships.
• Engage with borrowers, guarantors and lenders to secure repayment and maximize recovery.
• Coordinate with tax, legal, audit, policy, and regulatory officials as needed.
• Monitor loan expenses and report performance metrics to identify risks.
• Develop strategies to reduce non-performing assets and maintain portfolio quality.
• Ensure compliance with applicable laws and internal policies.

Kenntnisse

Loan workout

Supervisory skills

Negotiation

Analytical skills

Communication

Time management

Attention to detail

Banking regulations

Ausbildung

Bachelor's Degree (Business)

Tools

Microsoft Word

Microsoft Excel

PowerPoint

Loan accounting systems

Jobbeschreibung

1st Source Corporation is seeking a senior professional to lead the Loan Workout & Recovery department. You will manage complex problem loans, guide a team, and coordinate with legal, tax and regulators to maximize recoveries while controlling costs.

The role emphasizes sophisticated negotiations with borrowers and stakeholders, development of recovery plans, and reporting on portfolio performance to sustain credit quality.