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Open nowFirst seen 5 days ago

Loan Workout Officer

Pinnacle Bank, a Tennessee bank, d/b/a Synovus Bank162 open roles

Where
Columbus, GA, USA
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Your applicationOpen nowLoan Workout OfficerPinnacle Bank, a Tennessee bank, d/b/a Synovus Bank · Columbus, GA, USA
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The clock on this job

Early applications get read.

12.3% of postings close within 7 days. Measured by our own scanner across the market. Pinnacle Bank, a Tennessee bank, d/b/a Synovus Bank postings stay open a median of 1 days.

Share of postings closed within
  1. 2.1%1 day
  2. 4.5%3 days
  3. 12.3%7 days
  4. 19.7%14 days
  5. 35.6%30 days
  6. 58.0%60 days
This job: first seen 5 days ago

Pinnacle Bank, a Tennessee bank, d/b/a Synovus Bank median: 1 days open

The posting

Job Summary: Responsible for the effective management of a portfolio of 15 - 20 commercial loan work-out relationships with an average size of $1M 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. Loan renewal authority of $1M. 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 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 firm 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. Attend 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. 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 loan review, accounting and other relevant departments.
  • Interacts regularly with peers in other functional areas, managers and clients. Interactions may involve controversial situations or trying to influence actions. Erroneous decisions can result in critical delays in schedules or departments operations or jeopardize overall business objectives.
  • May act as a team lead and mentor. May orient, train or review the work of lower level workout specialists.
  • 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 Firm authority in a timely fashion.
  • Performs other related duties as required.

The information on this description has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job

Pinnacle is an Equal Opportunity Employer committed to fostering an inclusive work environment.

Minimum Education: Bachelors Degree in Business Administration, Finance or related discipline, or equivalent work experience.8 years job related experience, 5 years job specific experienceThis position requires successful registration and issuance of a unique identification number from the Nationwide Mortgage Licensing System (NMLS) in compliance with the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (SAFE ACT). Registration must be accomplished within an established timeframe after initial employment and includes a nationwide finger print check. Sit Regularly

Minimum Experience:

Required Knowledge, Skills & Abilities:

  • Stand or Walk Regularly
  • Talk and Hear Regularly
  • Ability to see objects up close or at a distance, use peripheral vision, identify basic colors
  • Use of Hands/ability to reach
  • Normal Office Environment. This position may require successful registration and issuance of a unique identification number from the Nationwide Mortgage Licensing System (NMLS) in compliance with the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (SAFE ACT). Registration must be accomplished within an established timeframe after initial employment and includes a nationwide finger print check.
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