The Chief Workout Officer is a strategic leader responsible for the design and implementation of the Commercial Workout function at Santander Bank. In line with the Commercial Credit Risk Standards, this role will lead oversight of Workout Credit policy, procedures and regulatory compliance and controls, including development and implementation of recovery strategies for problem loans though negotiated modifications, forbearances, managed litigation and collateral liquidation. The Chief Workout Officer leads a dynamic team of professionals actively promoting a risk culture that seeks an appropriate balance between risk and reward across the business activities of Santander and by ensuring business is conducted in a fair and ethical manner.
- Responsible for identifying and minimizing potential losses and maximize recoveries on all Commercial loan portfolios, through the teams’ analysis of individual credits and related portfolios and industries, collection activities, developing/negotiating/execution of workout action plans, including proposing loan restructures, managing negotiations and legal actions, evaluating Bank collateral and documentation, and recommending alternative solutions as well as judgment/foreclosure litigation, asset liquidation and bankruptcy
Manages workout/collections/risk management portfolio reviews and committee meetings and makes recommendations for approvals
Oversees determination and reporting of appropriate risk classification and ratings, reserves and charge-offs and related portfolio and financial statistics
Attends and participates in watch portfolio reviews and committee meetings and makes recommendations on approval documents
Works closely with Monitoring and Credit professionals to help identify and mitigate problem assets
Develops and implements risk management strategy and programs; manages and monitors significant portfolio risks
Workseffectively and strategically with business leaders balancing business needswith potential risks to mitigate loss
Makes recommendations and providesworkable alternatives to the business
Coordinatesin-house and outside legal counsel throughout various litigation matters on behalfof the business
Oversees OREO and Note sales, seeking to minimize cost and maximize recovery
recovery to the Bank inaccordance with regulatory requirements
Manages a team of workout professionals
Responsiblefor all aspects of the team member life cycle, including recruitment,performance and development
At Santander, we value and respect differences in ourworkforce and strive to increase the diversity of our teams. We encourageeveryone to apply.
- Bachelors or Equivalent; MBA preferred in Finance,Accounting or Economics
- 15+ years of experience in commercial lending or workout or relevant experience.
- 10+ years management experience
- Knowledge of lending, foreclosure and judgment laws
- Highly skilled in commercial lending workoutacross product/asset types including commercial loans, inventory/floorplanfinance, commercial real estate
- Skilled in large team management,Working knowledge of regulatory requirements for subject portfolios