Commercial Workout Relationship Manager

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 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-motivated professional 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. They will 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. Location: Troy, MI Job Id: 156 # of Openings: 1 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. Develop effective workout plans for commercial loans with established legal bounds in order to shield the organization from potential lender liability. Perform loan reviews of the problem credits with the ability to properly analyze any financial and or documentation issues. Evaluate, manage, and market the Credit Union owned property including Other Real Estate Owned, in order to maximize financial return to the Credit Union. Consult on deteriorating credits, at the recommendation of Senior Management, Loan Committee or Loan Review committee and recommend the appropriate course of action to the Officer in handling a problem account. Appropriately monitor the progress of workout accounts and recommend any required changes in action necessary to minimize and prevent loss. Negotiate with Attorneys, Debtor companies, and other Creditors and Lending Employees to secure appropriate workout arrangements. Recommend accounting changes for nonaccrual and charged off loans. Develop workout vendors (i.e., Attorneys, Property Managers, Environmental Experts and others, as necessary, in all geographic regions in which the CUSO has exposure). Oversee less complicated workouts being administered by CUSO Liaisons. Required Skills and Abilities Restructuring adversely graded loans (Special Assets). Work 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), work and collaborate 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. Manage the litigation process in coordination with inside and outside Counsel. Work closely with the CUSO’s Liaisons, Legal Department and Loan Operations. Interact 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. Prepare and distribute appropriate copies of form memos stating Loan Officer code changes. Prepare documentation recommending change to loan risk rating. Provide brief history including the status of the loan along with basis to support recommendation of change. Complete and distribute change in loan risk rating. Initiate 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. Update status and plan of action for Commercial Workout accounts list. Include status, plan of action, and time frame for follow-up purposes. Prepare and send default/demand letters when required. Review loan documentation identifying any areas of weakness and ensure compliance. Review loan policy and make suggestions for changes in the policy, as necessary. Provide for Attorney review documentation outlining pertinent information and legal action being requested. Review current information, collateral, and status to determine likelihood of repayment. Determine alternatives or exit strategy. Complete proposal of Workout strategy for Credit Union approval. Provide supporting documentation. Prepare letter of intent listing terms and conditions of Workout. Communicate terms and conditions with Attorney for approval. Make changes, as necessary. Coordinate with Attorney legal options, timeframe, and cost of litigation. Prepare documentation and action points. Recommend loans to the Credit Union’s Asset Recovery Manager, to be placed on non-accrual and for charge-off. Conduct periodic review of loans for charge-off. Complete memo outlining status and reason for recommendation. Perform site visits to assess collateral. Assist the Chief Credit Officer with reports for the Board and Senior Management. Perform 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. 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. #J-18808-Ljbffr Commercial Alliance