Sr. Loan Workout Relationship Manager - Asset Recovery Group

$110,000 - $145,000/Yr

KeyBank - Cleveland, OH

Full-time - Mid Level

Cleveland, OH

Credit Intermediation and Related Activities

About the position

The Sr. Loan Workout Relationship Manager in the Asset Recovery Group is responsible for managing a diverse portfolio of credit relationships that are rated as 'exit', criticized, classified, non-performing, or charged off. The primary goal of this role is to minimize charge-offs and maximize recoveries by collaboratively developing and implementing effective workout, restructuring, and exit plans. This position requires the development of positive relationships with customers, line of business personnel, and both internal and external professionals. The manager will negotiate skillfully, fairly, and ethically with customers and other stakeholders while ensuring clear communication and adherence to corporate compliance guidelines. In this role, the manager will shadow accounts that require workout advice and participate with Regional Managers and Team Leaders in developing business plans for the loan workout functions. Close collaboration with various lines of business and bank groups is essential to resolve problem loan issues effectively. Additionally, the manager will mentor junior workout officers to enhance their skills and competencies, ensuring a strong team dynamic and knowledge transfer within the department. The essential job duties include managing a loan portfolio to mitigate risk across multiple loan types, reviewing and analyzing loan documentation and financial statements to assess risk and repayment capacity, and developing and implementing strategies for problem loans. The manager will also maintain constructive interactions with regulators, work with external professionals to maximize returns on collateral, and support continuous improvement efforts within the department. Periodic travel may be required to meet clients or view collateral, and participation in community service activities is encouraged. The manager will also be involved in the Quarterly Asset Quality Review process and will work closely with bank counsel to achieve desired results in a cost-effective manner.

Responsibilities

• Manage a portfolio of pass rated 'exit', criticized, classified, non-performing, and charged off credit relationships.
• Minimize charge-offs and maximize recoveries by developing and implementing workout, restructuring, and exit plans.
• Develop positive relationships with customers and internal/external professionals.
• Negotiate skillfully and ethically with customers and other constituencies.
• Communicate clearly and adhere to corporate compliance guidelines.
• Shadow accounts requiring workout advice and participate in developing business plans for loan workout functions.
• Work closely with lines of business and bank groups to resolve problem loan issues.
• Mentor junior workout officers to develop their skills and competencies.
• Review and analyze loan documentation and financial statements to assess risk and repayment capacity.
• Develop, recommend, and implement workout/liquidation strategies for problem loans.
• Maintain constructive interaction with regulators and work with external professionals to maximize returns on collateral.
• Support departmental continuous improvement efforts and participate in community service activities.
• Participate in the Quarterly Asset Quality Review process and produce timely documentation as required.
• Work with bank counsel in a cost-effective manner to achieve desired results.

Requirements

• High School Diploma or equivalent.
• Five to seven years of related experience.
• Financial statement analysis experience, five years minimum.
• Excellent oral and written communication skills.
• Proven skills in assessing credit risk.
• Excellent negotiation and interpersonal skills.
• Expertise in Microsoft Office (Office and Excel) operating systems.
• Bankruptcy/workout experience, five years minimum.
• Knowledge of commercial credit products and loan documentation.
• Knowledge of creditors' rights, collection practices, and bankruptcy.
• Knowledge of compliance.

Nice-to-haves

• Undergraduate degree in accounting, finance, or related field.
• Knowledge of SBA standard operating procedures and regulations.
• Working knowledge of Key Bank policies, procedures, and regulations.
• Workout experience spanning periods of growing and retracting economic conditions.
• Commercial lending experience.
• Real Estate background.

Benefits

• Base salary range of $110,000 to $145,000 annually depending on location and experience.
• Eligibility for short-term incentive compensation and deferred incentive compensation based on performance.
• Flexible work options, including mobile or home-based work environments.