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Credit Remediation Manager
•4 days ago
| Hours | Full-time, Part-time |
|---|---|
| Location | Marion, Illinois |
About this job
Summary: Responsible for ensuring timely and accurate problem loan identification and manages the workout of delinquent loans and problems, special or criticized assets, in a manner that minimizes loss to the Bank. Ensure the efficient and effective operation of the Credit Remediation department. Coordinate the Bank's Letters of Credit process. Supervises credit remediation support personnel.
Responsibilities: include but are not limited to the following. Other duties may be assigned.
- Coordinate the Bank's Letters of Credit process from origination and post-closing monitoring. Collaborate with multiple parties including the Federal Home Loan Bank Chicago, Letter of Credit beneficiaries, commercial lenders, Market Executives, commercial customers/borrowers, Legal, Credit Analysis and Loan Servicing teams.
- Manage and oversee the continuous development, maintenance, processing oversight and execution of the Bank's electronic collection of money in the form of loan payments via the internet and preferred vendor(s) in facilitation of those payments.
- Assist in the determination of when it is appropriate to transfer problem credits to/from the credit remediation department; coordinate the actual transfer and assume responsibility for the problem credits while continuing to work with the prior loan officer as appropriate.
- Analyze and evaluate problem accounts. Conduct collateral inventories and establish liquidation values of assets based on market and economic climate. Develop and implement liquidation and litigation strategies designed to maximize loan recovery.
- Coordinate liquidation efforts with appraisers, auctioneers, title companies, real estate brokers, attorneys and bankruptcy trustees. Assist with litigation matters involving foreclosures, judgments and bankruptcies. Ensure that the company is represented at foreclosure sales, bankruptcy hearings and settlement conferences. Monitor liquidation/litigation cases to ensure compliance with State and Federal Statutes with regard to acquiring possession and subsequent sale of loan collateral.
- Submit recommendations for loan charge offs, non-accruals, and watch list changes to the Bank's Loan Committee and Board of Directors for approval. Determines specific allocations on significant problem loans and administers the Bank's ALLL adequacy determination program. Modeling and comparisons of current expected credit loss and incurred loss. Producing various reports pertaining to asset quality and overall credit risk.
- Assist the loan officers and Credit Administration team by providing analytical services including the ability to interpret financial statements and prepare write-ups in workout credits. Participate in the discussions with the Bank's Loan Committee.
- Review and analyze collateral appraisal reports to determine their adequacy. Perform collateral valuations.
- Assist in ensuring that departmental objectives are achieved. Review team member activities on a regular basis, suggesting strategies and training for development, salary increases, promotions or other actions to improve personnel and department performance. Conduct and review performance evaluations and make recommendations with regard to hiring and terminating employees.
- Assist in application filing of government guarantees when appropriate and guarantee purchases in defaults and liquidations.
- Assist accounting and the Bank's auditor in the preparation of accounting statements as needed.
All employees are expected to protect the information and assets of the organization through heightened awareness of information security, cyber security, and risk management best practices, as well as complying with all applicable laws, regulations, and organizational policies.
Qualifications and Skills: To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skills and abilities required. Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions.
Education/Experience:
- Bachelor's degree in accounting, finance or related field.
- Three to five years of problem credit resolution, collection and/or loan/credit management experience.
- Knowledge of SBA/FSA and other government guaranteed loan products.
- Thorough understanding of the interworking of various loan and collection functions.
Knowledge/Skills/Abilities:
- Strong organizational skills and attention to detail.
- Strong customer service orientation.
- Ability to problem solve, prioritize tasks and meet required deadlines.
- Ability to think critically and use good, sound judgment in decision-making.
- Ability to respond to common inquiries or complaints from regulatory agencies, outside auditors and accountants, Board of Directors or other members of management.
- Ability to write routine correspondence and communicate effectively and tactfully, orally and in writing with employees, customers, vendors and management.
- Ability to define problems, collect data, establish facts and draw valid conclusions.
- Must understand and comply with company policies and procedures.
- Ability to deal with several abstract or concrete variables simultaneously. Ability to oversee goals and projects and ensure they are completed in a timely manner.
- Ability to oversee goals and projects and ensure they are completed in a timely manner.
- Ability to maintain a friendly, helpful and courteous attitude when working with customers or co-workers under diverse conditions.
- Ability to accurately and quickly complete standard mathematical calculations.
- Ability to apply concepts such as fractions, percentages, ratios and proportions to practical situations.
- Ability to interpret various ratios and relationships inherent in common or specialized financial reports.
- Ability to project future results or consequences from different alternatives and variables.
- Ability to use a calculator, computer and applicable software.
- Ability to use Microsoft Internet Explorer and Microsoft Office programs, specifically Word, Outlook and Excel.
Physical Demands: The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. The employee must have the ability to lift and carry 25 pounds for a distance of 50 feet.
Intent and Function of Job Descriptions: The above statements are intended to describe the general nature and level of work being performed by people assigned to this job. They are not intended to be an exhaustive list of all responsibilities, duties, skills or working conditions. The duties and responsibilities enumerated are essential job functions except for those that begin with the word "May."
Banterra promotes an Equal Employment Opportunity workplace which includes reasonable accommodation of otherwise disabled applicants and employees.
In accordance with the Americans with Disabilities Act, it is possible that requirements may be modified to reasonably accommodate disabled individuals. However, no accommodations will be made which may pose serious health or safety risks to the employee or others or which impose undue hardships on the organization.
Job descriptions are not intended as and do not create employment contracts. Banterra maintains its status as an at-will employer.
Banterra bank is an Equal Opportunity/Affirmative Action employer. All qualified applicants will receive consideration for employment without regard to race, color, national origin, religion, sex, sexual orientation, gender identity, age, disability, protected veteran status, or any other characteristics protected by law.
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