New Orleans, LA30+ days ago
p>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.
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.