Business Banking Loan Workout Collection Specialist

$44,824 - $86,632/Yr

Berkshire Bank - New York, NY

Full-time

Hybrid - New York, NY

Credit Intermediation and Related Activities

About the position

The Business Banking Loan Workout Collection Specialist at Berkshire Bank is responsible for improving asset quality through the collection of a high-risk Business Banking loan portfolio. This role involves working closely with management and various lines of business to establish strategies for troubled assets, ensuring compliance with banking regulations, and maintaining a professional image for the bank in the marketplace.

Responsibilities

• Manage specific Business Banking credits for loans ranging from $10,000 to $250,000, focusing on speedy resolution of issues and maximizing the bank's return.
• Act as a liaison between the bank and the U.S. Small Business Administration (SBA), understanding SBA policies and practices to inform loan resolution strategies.
• Monitor delinquency reports and develop workout or exit strategies as necessary.
• Lead the workout process on assigned deals, quickly recognizing and managing issues effectively.
• Collaborate with bank counsel to maximize recoveries and preserve the bank's rights.
• Ensure compliance with all banking laws, rules, regulations, and prescribed policies to reduce risk and uphold ethical standards.

Requirements

• High school diploma or equivalent.
• General business experience.
• Collections experience is desirable.
• Strong communication skills.
• Knowledge of bankruptcy laws and regulations, as well as the legal system surrounding restructurings and collections, is desired.
• Self-motivated with strong initiative.
• Basic knowledge of business banking, commercial and industrial loans, and commercial real estate loans is desired.
• Familiarity with problem loans and their impact on accounting and asset quality is desired.
• Strong administrative, reporting, and computer skills.