Commercial Loan Workout Manager

The Commercial Loan Workout Manager is responsible for managing and resolving distressed or non-performing commercial loans, and for managing the Loss Mitigation Team. Focuses on resolving commercial loans that exhibit deficiencies, are in arrears, or are at risk of default. Provides management and/or strategy for a portfolio of non-performing commercial loan relationships, implementing strategies like restructuring, repossessions, or legal action to protect the bank's collateral and minimize losses. This is a hybrid role in which the Commercial Loan Workout Manager will also assist with Consumer Loan loss mitigation strategies and Collections.

The following is a list of essential functions, which may be subject to change at any time and without advance notice. Management may assign new duties, reassign existing duties, or eliminate a function.

Develop and recommend appropriate workout plans, which may involve restructuring loan terms, negotiate payments, or initiate foreclosure/liquidation.
• Monitor the progress of workout accounts and recommend changes to minimize losses.
• Collaborate with various stakeholders including attorneys, compliance, and risk teams to resolve defaults and implement strategies that support departmental goals.
• Identify and escalate high-risk situations to management.
• Assist with the ongoing analysis, handling and resolution of loans identified as delinquent, non-performing, or otherwise requiring enhanced monitoring.
• Actively engage and aid with cost effective recovery efforts for distressed commercial loans, including identifying and pursuing collection methods defaulted loans.
• Provide strategic direction and recommendations for the resolution of assigned commercial loans experiencing higher levels of risk, credit deficiencies, or overall weaknesses.
• Collaborate on SBA workouts with SBA Credit Officer to ensure the protection and honoring of the SBA guaranty and optimal recovery outcomes.
• Partner with other Loss Mitigation and Collections team members to implement best practices and to assure elevated levels of performance.
• Provide impairment analysis and comprehensive reporting of Special Asset loans to CCO, executive management, and/or Board of Directors as appropriate.

Education and Experience

• Bachelor's Degree from a 4-year college/university in finance, business administration, in a related field of study or equivalent relevant work experience.
• Several years of experience in commercial lending, credit/default, or loan workout.
• Minimum five years of accomplishment in a field similar or related to loss mitigation, advanced collections, and/or asset management.

Skills and Competencies

• Excellent customer service skills with a professional demeanor and appearance always.
• Excellent written and verbal communication skills.
• Thorough knowledge of mortgage and consumer lending industry practices and disciplines.
• Working knowledge of all federal, state, and local government regulations that affect the collections process, including the Fair Debt Collections Practices Act (FDCPA).
• Knowledge of legal principles.
• Knowledge of the foreclosure and bankruptcy process.
• Strong computer skills; proficiency in Microsoft Excel and Word, as well as loan collection systems.
• Meticulous with strong organizational skills.
• Ability to work independently and solve complex problems.
• Proven negotiation and critical thinking skills.
• Ability to manage multiple tasks simultaneously and meet deadlines.

Working Conditions

Traditional office environment with the ability to work remotely on a hybrid basis the office maintains five day a week operation (Monday - Friday) with operational hours of 8:00am - 5:00pm. Must be available to attend events on evenings and weekends, as necessary.

Physical Demands

Penn Community promotes an equal opportunity workplace, which includes reasonable accommodations of otherwise qualified disabled applicants and employees. Please contact Human Resources with questions regarding the physical demands of this position.

• Lifting/carrying up to 10 lbs.
• Manual dexterity for computer work
• Speaking, hearing, and vision are required to perform essential functions.

Equal Employment Opportunity

It is the policy of Penn Community to provide equal employment and advancement opportunities to all individuals. For this reason, employment decisions at Penn Community will be based on merit, qualifications, and abilities. Except where required or permitted by law, employment practices will not be influenced or affected by an applicant's or Team Member's race, color, religion, sex, national origin, age, sexual orientation, physical or mental disability, veteran status, or any other characteristic protected by law.