Job Description:This job is responsible for directly managing a high-risk/criticized or distressed commercial loan portfolio. Key responsibilities include developing, negotiating, and implementing resolution strategies focused on reducing the volatility and severity of losses. Job expectations include adherence to all bank policies and regulatory requirements, proactive identification and mitigation of risks within the portfolio, and maintaining a high-level of integrity and ethical standards in all interactions.
Responsibilities:- Develops, negotiates, and implements comprehensive resolution strategies
- Manages and oversees adversarial collection actions (e.g. litigation, foreclosures, bankruptcies, and receiverships)
- Ensures compliance with bank policies and regulatory standards
- Oversees the asset quality of the portfolio through effective risk management practices
- Conducts periodic portfolio reviews
- Establishes and maintains collaborative partnerships with internal and external stakeholders
- Manage a portfolio of highly complex criticized, classified, and distressed commercial credit relationships through all stages of the resolution process.
- Develop and execute credit resolution strategies designed to maximize recoveries, minimize loss severity, and protect the Bank's interests.
- Assess borrower performance, collateral support, guarantor strength, industry conditions, and legal considerations to determine the optimal path to resolution.
- Lead negotiations involving restructurings, repayment plans, settlements, discounted payoffs, collateral dispositions, note sales, and other recovery-focused solutions.
- Prepare and present strategy recommendations, credit approvals, and portfolio updates to senior leadership and risk management partners.
- Serve as the primary point of contact for borrowers, sponsors, attorneys, consultants, participating lenders, and other stakeholders associated with assigned relationships.
- Manage bankruptcy, litigation, foreclosure, receivership, and other legal recovery actions to maximize recoveries and minimize losses.
- Coach and mentor junior associates on the team to help develop credit and corporate workout skills.
Required Qualifications:- 7+ years of experience in middle market or large corporate loans, credit restructuring, or related risk management experience.
- Extensive knowledge of commercial lending, credit analysis, commercial loan documentation, collateral analysis, and commercial credit structures.
- Proven negotiation skills and experience leading borrower, sponsor, legal, and lender discussions
- Strong financial analysis skills, including cash flow analysis, collateral evaluation, repayment capacity assessment, and enterprise valuation concepts.
- Ability to exercise sound credit judgment and make decisions in complex, time-sensitive situations.
- Industry knowledge across multiple sectors
Desired Qualifications:- Knowledge of Business Law, a legal aptitude, strong knowledge of contracts, and knowledge of bankruptcy law
- Ability to work independently on complex transactions while exercising sound credit judgment
- Knowledge of ancillary banking products such as treasury services, derivatives, commercial cards, and deposits
- Strong knowledge of Commercial Loan Documentation
- Knowledge of Commercial Credit Structure
- Strong Negotiation Skills
Skills:- Adaptability
- Collection Management
- Critical Thinking
- Problem Solving
- Risk Management
- Credit and Risk Assessment
- Decision Making
- Financial Analysis
- Legal Structures and Legal Forms
- Underwriting
- Client Management
- Loan Structuring
- Negotiation
- Oral Communications
- Written Communications
Minimum Education Requirement: High School Diploma / GED / Secondary School or equivalent
Shift:1st shift (United States of America)
Hours Per Week: 40
Pay Transparency detailsUS - IL - Chicago - 110 N Wacker Dr - Bank Of America Tower Chicago (IL4110), US - NY - New York - ONE BRYANT PARK - BANK OF AMERICA TOWER (NY1100), US - RI - Providence - 1 Financial Plz - 1 Financial Plaza (RI1537)
Pay and benefits information
Pay range
$100,000.00 - $156,600.00 annualized salary, offers to be determined based on experience, education and skill set.
Discretionary incentive eligible
This role is eligible to participate in the annual discretionary plan. Employees are eligible for an annual discretionary award based on their overall individual performance results and behaviors, the performance and contributions of their line of business and/or group; and the overall success of the Company.
Benefits
This role is currently benefits eligible. We provide industry-leading benefits, access to paid time off, resources and support to our employees so they can make a genuine impact and contribute to the sustainable growth of our business and the communities we serve.
