Loan Workout Specialist

Synovus Financial Corp. Birmingham , AL 35202

Posted 2 months ago

Job Summary:

Responsible for the effective management of a portfolio of 20 - 30 commercial loan work-out relationships with an average size of , $500k and generally with a moderate level of complexity. Ensures timely resolution of transactions while preserving principal, obtaining fee income and expense reimbursements. Establishes action plans with specific resolution target dates and promptly conveys recommendations on adjustments for risk ratings, loss recognitions or write offs and accrual status. Loan renewal authority of $500k.

Job Duties and Responsibilities:

  • Effectively manages an assigned portfolio of commercial loan workout relationships. May work closely with officials of both lending and borrowing institutions to develop feasible, timely workout strategies; restructuring credit and repayment terms, better securing collateral or establishing recourse to other borrower assets.

  • Coordinates with tax, legal, audit and credit/loan policy departments as necessary to ensure compliance of negotiated workout agreements, with established company policies and regulatory agencies ordinances.

  • Coordinates the enforcement of banks rights and remedies if negotiated workout plan proves not feasible and/or further default ensues. May work closely with counsel, loan recovery, turnaround professionals, court appointed receivers and others in enforcement proceedings, seeking to maximize the recovery of nonperforming assets. Attends bank judicial proceedings as required. Coordinates and establishes liquidation value of bank collateral in conjunction with liquidators, appraisers and other professionals.

  • Prepares management reporting and maintain credit file documentation. Timely recommends risk rating adjustments as needed, updating loan loss recognition and required accruals. Monitor covenant compliance, ensures required financial reporting, and resolve any documented exceptions.

  • Monitors the collection and ensures the correct application of recovered funds. Coordinates the proper implementation of workout plans with loan review, accounting and other relevant departments.

  • Interacts regularly with peers in other functional areas, but may also interact with customers to gather data, provides information or resolve lower level technical issues. Erroneous decisions can result in additional costs and delays in achieving departmental objectives.

  • Each team member is expected to be aware of risk within their functional area. This includes observing all policies, procedures, laws, regulations and risk limits specific to their role. Additionally, they should raise and report known or suspected violations to the appropriate Company authority in a timely fashion.

  • Performs other related duties as required.

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Loan Workout Specialist

Synovus Financial Corp.