Responsible for the effective management of a portfolio commercial loan work-out relationships with diverse scope and 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 conveying recommendations on adjustments for risk ratings, loss recognitions or write offs and accrual status. Uses professional knowledge, experience and analytical criteria to make decisions and acts independently to determine methods and procedures on new assignments.
Job Duties and Responsibilities:
Effectively manages an assigned portfolio of commercial loan workout relationships. May work closely with internal lending staff and agent lenders to develop feasible, timely workout strategies; restructuring credit and repayment terms, better securing collateral or establishing recourse to other borrower assets.
Coordinates with internal finance, legal, and departments as necessary to ensure compliance of negotiated workout agreements, with established company policies and regulatory agencies ordinances.
Work closely with internal as well as outside counsel. Maintain a high level of knowledge of bank lending practices including pricing, underwriting, and credit structuring.
Monitor loan quality for past-due problems as well as monitoring and staying in compliance with CECL loan loss reserve and FASB 114 guidelines. Monitor list of assigned clients detailing grading, reserve allocation, accrual status, due dates, appraisals, financial statement and collateral information.
Coordinate execution of required loan documents. 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, turnaround professionals, court appointed receivers and others in enforcement proceedings, seeking to maximize the recovery of nonperforming assets. 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. Monitors covenant compliance, ensures required financial reporting, and resolve any documented exceptions.
- Monitors the collection and ensures the correct application of recovered funds. Coordinate the proper implementation of workout plans with senior credit risk staff.
QualificationsBachelor s degree or related technical discipline, or the equivalent combination of education and experience is required. Formal credit training preferred. MBA preferred. Family Requirements: 12-15 years of total work experience preferred. Prior experience/background in credit risk preferred. In addition, may require the following experience/skills based on primary duties: Discipline Requirements: Credit Analysis & Approval/Portfolio Management: Formal credit training preferred. Ability to assist with the management of diverse lending, operating products, attendant risk, foreclosure, bankruptcy and/or OREO assets. Operational Credit Risk: Formal credit training preferred. Experience as an underwriter and assisting with the management of rapid-turnaround, intraday funds transfers and approvals. Country Risk: Formal credit training preferred. Experience with borrower rating systems and tracking methodologies, and basic knowledge of fiscal and financial condition indicators. Credit Administration: Experience as an underwriter and familiarity with credit administration systems typically used by financial institutions. Community Reinvestment Act/Appraisal: Expert-level familiarity with the Community Reinvestment Act and extensive experience conducting complex real estate appraisals.
BNY Mellon is an Equal Employment Opportunity/Affirmative Action Employer.
Minorities/Females/Individuals With Disabilities/Protected Veterans.
Our ambition is to build the best global team – one that is representative and inclusive of the diverse talent, clients and communities we work with and serve – and to empower our team to do their best work. We support wellbeing and a balanced life, and offer a range of family-friendly, inclusive employment policies and employee forums.
Primary Location: United States-New York-New York
Internal Jobcode: 85150
Requisition Number: 2005727