Back 1d Sr. Loan Workout Specialist #1617 Apply X Facebook LinkedIn Email Copy Job Description
Division:
Eastern Funding Department:
Collections & Workout Status:
Exempt Grade:
10 Salary Range:
$65,000 - $95,000 Actual compensation within the pay range will be decided based on factors including, but not limited to, skills, prior relevant experience, and specific work location. Location:
Ipswich, MA Principal Objective Responsible for screening and developing workout plans for potential high-risk loans while creating minimum risk for the company. Continual monitoring and updating of watch list loans as related to classification, risk rating, and loan loss reserves. Assist Legal Department with managing legal accounts related to default, bankruptcy, and methods of liquidation. Principal Duties and Responsibilities Review past due loan reports to identify potentially delinquent loans. Work with managers to manage non-accrual accounts and disposition of assets acquired. Screen borrower's requests for rewrites as assigned by manager. Develop workout plans for specific delinquent loans to minimize loan losses with input from manager & LO. Ensure that the Loan Servicing Department timely books workouts. Work with manager to update Watch List on a monthly basis. Assist with Gateway forms. Assist with analyzing loan impairment, specific provisions and/or charge offs. Assist with rationalizing loan charge offs, reserves and risk rating classifications. Assist with completing quarterly Watch List write ups for watch list loans for Brookline review. Create and negotiate possible payback arrangements on Non-Accrual and Legal Accounts on an as needed basis as assigned by manager. Help prioritize and manage Legal Portfolio with the assigned attorney. Send out formal letters of default. Timely follow up on legal actions. Clearly communicate decided course of action (liquidation) related to delinquent loans to maximize the amount of collateral recovered in the shortest amount of time. Have an up to date understanding of TDRs and the company's risk rating policies.
Job Specifications (Skills, Knowledge and Abilities Required) Fundamental understanding of financial concepts, collection, workout negotiations & UCC filings. Legal/collection/financing experience. Knowledge of Microsoft Office, particularly Excel. Bilingual (Korean). Strong verbal and written skills. Strong attention to detail. Ability to multitask and problem solve. Ability to keep accurate records. Ability to work independently with guidance, as needed.
Behavioral Skills Consistently demonstrate behaviors associated with The Eastern Way's 29 Fundamentals.
We endeavor to make this site accessible to any and all users. Berkshire Bank is an Equal Opportunity Employer - all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, or national origin. If you would like to contact us regarding the accessibility of our website, need assistance completing the application process, or would like to request alternative methods of applying, please contact us at hr@berkshirebank.com.
Division:
Eastern Funding Department:
Collections & Workout Status:
Exempt Grade:
10 Salary Range:
$65,000 - $95,000 Actual compensation within the pay range will be decided based on factors including, but not limited to, skills, prior relevant experience, and specific work location. Location:
Ipswich, MA Principal Objective Responsible for screening and developing workout plans for potential high-risk loans while creating minimum risk for the company. Continual monitoring and updating of watch list loans as related to classification, risk rating, and loan loss reserves. Assist Legal Department with managing legal accounts related to default, bankruptcy, and methods of liquidation. Principal Duties and Responsibilities Review past due loan reports to identify potentially delinquent loans. Work with managers to manage non-accrual accounts and disposition of assets acquired. Screen borrower's requests for rewrites as assigned by manager. Develop workout plans for specific delinquent loans to minimize loan losses with input from manager & LO. Ensure that the Loan Servicing Department timely books workouts. Work with manager to update Watch List on a monthly basis. Assist with Gateway forms. Assist with analyzing loan impairment, specific provisions and/or charge offs. Assist with rationalizing loan charge offs, reserves and risk rating classifications. Assist with completing quarterly Watch List write ups for watch list loans for Brookline review. Create and negotiate possible payback arrangements on Non-Accrual and Legal Accounts on an as needed basis as assigned by manager. Help prioritize and manage Legal Portfolio with the assigned attorney. Send out formal letters of default. Timely follow up on legal actions. Clearly communicate decided course of action (liquidation) related to delinquent loans to maximize the amount of collateral recovered in the shortest amount of time. Have an up to date understanding of TDRs and the company's risk rating policies.
Job Specifications (Skills, Knowledge and Abilities Required) Fundamental understanding of financial concepts, collection, workout negotiations & UCC filings. Legal/collection/financing experience. Knowledge of Microsoft Office, particularly Excel. Bilingual (Korean). Strong verbal and written skills. Strong attention to detail. Ability to multitask and problem solve. Ability to keep accurate records. Ability to work independently with guidance, as needed.
Behavioral Skills Consistently demonstrate behaviors associated with The Eastern Way's 29 Fundamentals.
We endeavor to make this site accessible to any and all users. Berkshire Bank is an Equal Opportunity Employer - all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, or national origin. If you would like to contact us regarding the accessibility of our website, need assistance completing the application process, or would like to request alternative methods of applying, please contact us at hr@berkshirebank.com.