USAmeriBancorp

Loan Workout Team Leader

USAmeriBancorp • $110K — $130K *
Fairfield, NJ 07004In-Person
Finance & Insurance
8 - 10 years of experience
Today
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Job Overview by Ladders

Qualifications

  • Bachelor's degree required; Juris Doctor preferred.
  • 8+ years of experience in commercial litigation and workouts.
  • Strong experience managing and supervising teams.
  • Proficient in legal processes related to foreclosure and loan recovery.
  • Excellent communication, both written and verbal.
  • Strong organizational and delegation skills.
  • Effective at handling multiple projects simultaneously.

Responsibilities

  • Supervise workout officers and support staff.
  • Guide officers in portfolio management and proposed actions.
  • Manage a complex workout portfolio involving difficult collateral.
  • Restructure problem loans through tailored repayment plans.
  • Explore alternative repayment options like foreclosure when viable.
  • Mitigate risks associated with Special Assets credits.
  • Collaborate with outside counsel on recovery strategies and legal developments.
  • Analyze financial documents to determine optimal collection strategies.
  • Advise senior management on loan risk ratings and potential write-offs.
  • Monitor and rectify documentation issues related to collateral.

Benefits

  • Opportunities for professional development and growth.
  • Collaborative team environment.
  • Engagement with senior management on strategic decisions.
Full Job Description
Responsibilities include but not limited to:
  • Supervise assigned workout officers and support staff.
  • Independent, self-starter experienced with guiding workout officers in managing their respective portfolios by, among other things, reviewing the officers' proposed courses of action and the facts and considerations on which they are based and where appropriate, raising additional facts and considerations that may suggest alternate courses of action.
  • Maintain a workout portfolio of more complex litigation matters that may involve loans with substantial balances secured by collateral that is difficult to evaluate or liquidate or real property that may be burdened with multiple tenants, past due taxes and tax liens, or potential environmental issues.
  • Restructure problem loans by, among other things, implementing an amortization plan or forbearance agreement based on multiple factors such as the borrower's realistic ability to repay, the strength of the Bank's legal position and the possibility of recovery from other sources such as collateral and guarantors.
  • Seek alternative means of loan repayment through foreclosure on real property or the liquidation of other collateral, when a review of the relevant facts and circumstances, including a review of the loan documents and the nature and value of the collateral, indicates that initiating and pursuing such legal remedies will likely result in a greater recovery by the Bank.
  • Reduce the overall degree of risk associated with Special Assets credits.
  • Guide outside counsel in collection strategy to maximize recovery by, among other things, discussing potential legal avenues of recovery and expectations when counsel is assigned. Remain in close contact with counsel as the matter progresses so as to be fully informed of developments to discuss and propose options in response to legal developments.
  • Analyze financial statements, loan documents, and collateral to ascertain the best collection route based on a consideration of, among other things, the legal strength of the Bank's position, the range of remedies available to the Bank, and the ability and willingness of the borrower and other obligors to cooperate with and provide payments to the Bank.
  • Make recommendations to senior management as to risk ratings, accrual of interest and whether loans should be written down or charged off in whole or in part and in what amounts.
  • Review, analyze and, if feasible, correct any structural or documentation deficiencies and monitor the bank's collateral position or liquidation of the collateral by, for example, obtaining and filing corrected mortgages, UCCs or other loan documents or filing unfiled springing mortgages.
  • Has frequent interaction with senior management regarding the status of problem loans.


Required Skills:

  • Proficient understanding of the legal process as it relates to foreclosure and recovery of commercial loans.
  • Excellent written and verbal communication skills.
  • Developed supervisory skills.
  • Ability to organize, prioritize and delegate assignments.
  • Proficient computer skills using Microsoft Word, Excel and Outlook.
  • High level of interpersonal and social skills.
  • Good mathematical skills.
  • Ability to handle multiple projects simultaneously.

Required Experience:
  • Bachelor's degree.
  • Minimum of 8 years of related work experience involving regular interaction with outside counsel in workout or commercial litigation matters involving CRE, C-I and ABL credits.
  • Supervisory responsibilities that include managing direct reports.

Preferred Experience:
  • Juris Doctor degree.

About USAmeriBancorp

Valley National Bancorp, doing business as Valley Bank, is a regional bank holding company headquartered in Wayne, New Jersey with approximately $42 billion in assets. Its principal subsidiary, Valley National Bank, currently operates over 230 branch locations in northern and central New Jersey, the New York City boroughs of Manhattan, Brooklyn, and Queens, as well as Long Island, Florida, and Alabama. Valley Bank holds approximately $29 billion in assets. ,Valley Bank is one of the largest commercial banks headquartered in New Jersey.
Learn more about USAmeriBancorp
Industry
Legal & Accounting
* Ladders Estimates

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