What are the responsibilities and job description for the Senior Commercial Loan Workout Relationship Manager position at The Washington Trust Company?
Washington Trust is seeking a Senior Commercial Loan Workout Relationship Manager to independently manage distressed and non-performing commercial loans with a focus on maximizing recovery and minimizing losses. Responsibilities include handling restructures, forbearance agreements, troubled loan modifications, develop appropriate loan loss reserve analysis, and oversee and direct liquidations (including secured creditor sales and receiverships). In addition, this position will assist the senior members of Credit Risk with commercial loan portfolio management, risk assessments and data analytics. Lastly, responsible for appropriate guaranty programs for loans in Risk, primarily SBA.
Hybrid on-site/remote work schedule available.
Primary Responsibilities
The Washington Trust Company, and each of its subsidiaries and affiliates are committed to providing equal employment opportunities to all employees and applicants as protected by state and/or federal law.
Hybrid on-site/remote work schedule available.
Primary Responsibilities
- Manage all commercial loan workouts
- Develop appropriate loan loss reserve analysis to ensure accurate financial reporting and risk management
- Ensure all risk ratings and accrual status is correct, recommending changes as needed
- Negotiate with customers to maximize returns and minimize losses
- Develop action plans on all accounts
- Handle attorney involvement, keeping in the forefront that the Bank drives the direction, tenure, and ultimate settlement
- Negotiate offers in compromise in the best interest of the Bank. If SBA, follow SBA procedures and policies to ensure guaranty is not jeopardized
- Analyze financial and other statements to determine repayment ability including the development of personal and business cash flows.
- Analyze the economics of any situation, offer, or settlement
- Prepare monthly individual loan impairment analyses
- Negotiate sale of assets or notes, when appropriate
- Preparation of loan proposals and presentation of such
- Structuring of “troubled loan modifications” when appropriate
- Loan Review or data analytics, as requested
- Serve as a backup for managing and sale of any REO assets
- Assist with data analytical requests and production of the Quarterly Credit Report for submission to the Audit Committee of the Board of Directors, ensuring accuracy and effecting efficiency in the process.
- Assist the VP Credit Review with external loan reviews (FDIC and other external examiners), primarily ensuring accuracy of data submitted, source of data while assisting personnel performing the reviews as needed.
- Upon request or determination of need, an ability to gather, analyze and interpret loan data and trends, advanced data analytics and portfolio reporting.
- Assist in other Credit Risk areas as needed.
- Bachelor’s degree strongly preferred. Experience may be substituted for education.
- 10 years of relevant banking experience, with emphasis on credit, lending, underwriting, negotiations, SBA lending and workout, FDIC regulations, and a solid understanding of legal concepts related to bankruptcies, foreclosures, receiverships, auctions, judicial and non-judicial foreclosures/sales and note sales.
- Proven track record of managing distressed loan portfolios and achieving successful workout outcomes.
- Strong qualitative and quantitative analysis skills.
- Strong math skills.
- Strong understanding of personal and business cash flows
- Excellent negotiation, analytical, and problem-solving skills.
- Strong knowledge of credit, loan review, risk analysis, stress testing, and risk rating systems.
- Intermediate to Advanced Microsoft Word and Excel skills.
- High attention to detail.
- Possess good organizational skills with the ability to multi-task.
- Exemplary written communication skills, as well as effective verbal and interpersonal skills.
The Washington Trust Company, and each of its subsidiaries and affiliates are committed to providing equal employment opportunities to all employees and applicants as protected by state and/or federal law.