Workout Officer I

The Workout Officer will be responsible for the collection, workout, resolution and recovery of problem loans assigned to their portfolio. The Workout Officer will be responsible for achieving the least loss with the greatest recovery resolution for the Bank while minimizing risk associated with various collection and recovery actions. The Workout Officer will work closely with the Compliance and Legal departments to ensure adherence to regulatory and legal requirements and will assist Relationship Managers/ Retail Lenders as needed with workout and/or terminal actions.

RENASANT BANK IS AN EQUAL OPPORTUNITY EMPLOYER

Responsibilities

• Assist with loss mitigation applicant review, closing approved options and commercial loan resolution as directed
• Assist specific segments of the Bank’s loan portfolio or various initiatives as identified by management
• Ensure that loans and relationships will be worked in a timely manner that is consistent with both safe and sound banking practices and the Bank’s policy and procedures
• Review and analyze assigned loan and relationship information and determine if a viable workout option exist
• Review and evaluate loan files and documents to identify any potential weaknesses and work to improve the banks position
• Meet and work with debtors to establish and monitor prudent resolution strategies that position the bank to achieve the most favorable outcome
• Negotiate terms and settlements as required
• Initiate and follow through with terminal actions (foreclosure, repossession, charge off...)
• Review debtor capacity, capability and willingness to repay and develop implement and follow through with workout and/or resolution plans as appropriate
• Work closely with counsel (internal and external) in regard to terminal actions, bankruptcy and in pursuit of debtor deficiencies (appear in court as required)
• File small claims and initiate suits and other recovery actions as needed (independently or through counsel)
• Monitor loans within assigned portfolio and within the bank’s portfolio to ensure proper accrual status, appropriate risk ratings and reserves
• Identify and communicate problem credits and potential issues as early as possible
• Maintain up to date files, comments and notes on all credits assigned
• Maintain positive attitude and respectful working relationship with all customers (Internal and external)
• Perform other related duties as assigned
  
  
  

Qualifications

• Bachelor's degree in business related field preferred (or combination of equivalent years of education and directly related experience, above the minimum, will be considered)
• Minimum of 3 years of lending or collection related experience
• Strong verbal and written communication skills
• Exceptional analytical skills
• Excellent negotiating skills
• Knowledge of banking policies and regulations related to lending, collection, foreclosure/repossession and recovery
• Excellent collateral analysis skills
• Proficient in Microsoft office suite of products including outlook, word, and excel
• Ability to work independently and as part of a team
• Ability to learn and use new systems, processes, policies and procedures effectively and efficiently
• Must be able to prioritize and plan work activities as to use time efficiently
• Ability to manage multiple deadlines
• Ability to travel to meet with borrowers and handle legal actions as required
• Be a positive, proactive and flexible employee providing RNSTXcellence service to both internal and external relationships
  
  
  

Physical Demands

The physical demands described 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. While performing the duties of this job, the employee is frequently required to stand or sit; kneel, stoop, or squat; use hands or fingers to handle or feel objects, tools or controls; reach with hands and arms, and talk or hear. The employee is occasionally required to walk. The employee must occasionally lift and /or move up to 25 pounds. Specific vision abilities required by this job include close vision, peripheral vision, depth perception and the ability to focus.

Work Environment

The Bank’s professional working environment requires employees to communicate effectively, both verbally and in writing. Employees must demonstrate strong interpersonal skills when working closely with internal business partners and external clients. Employees may be exposed to confidential and propriety information within the working environment, therefore, must uphold confidentiality at all times. Due to the possibility of being exposed to high risk situations (i.e. robbery), detailed instructions and procedures are required to be followed at all times to safeguard the Bank’s employees, customers, and assets.

The above is intended to describe the general content of and requirements for the performance of this job. It is not to be construed as an exhaustive statement of duties, responsibilities, or requirements. The principal duties and responsibilities enumerated are all essential job functions except for those that begin with the word “May”.

This job description is intended to describe the normal level of work required by the person performing the work. The principle duties outlined are the essential responsibilities and duties. Other duties may be assigned as needs arise. Job requirements and/or processes may be modified to reasonably accommodate persons with a disability as required by law.

This description is not intended as a contract and is subject to change. Any written contractual agreements supersede this job description.