Loan Workout Specialist 4

This is a Job Description for an Loan Workout Specialist 4 in New Orleans, Louisiana Summary: Loan Workout Specialists monitor delinquent commercial and/or consumer loans and advise, restructure/rehabilitate, collect, recover, convert and/or liquidate assets (usually adversely classified) assigned by management to limit losses. 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. Develop and implement strategies to recover the principal from borrowers whose non-performing loans have been charged off. Reviews files assigned and developed 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 work 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 often their advisors, counselors, attorneys and CPAs to address problems and develop solutions. Coordinates and facilitates interactions between various departments. Advice and assists loan officers and department managers with account deterioration and changes to approved plans of action. Incumbent is required to comply with all applicable federal, state, and local banking and industry related laws and regulations including but not limited to the Bank Secrecy Act. Requirements and []{# Hlk142289191}[]{# Hlk142304825} Qualifications: 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 Equal Opportunity/Affirmative Action Employer.