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Job Title: LOAN WORKOUT MANAGER
Job Location: NJ: Newark
Pay Rate: $90K-$100K
Job Length: full time
Start Date: 2008-04-25

Company Name: Salem Executive Search
Contact: Joe Salem
Phone: 9733897858
Fax: email only

Description: Position Requirements:


- Minimum ten years credit and banking experience with five years experience in collection and workout


-BS or BA in Accounting, Business or Finance; Advanced Degree Preferred.


Manages a staff involved in restructuring a segment of the company's adversely-graded loans ("Special Assets"), working closely with officials of lending and borrowing institutions and others to better secure collateral, equity, or other assets of the borrower, preserve the loan principal, gather interest as possible, and prevent the loan from being charged off.


Responsibilities:


-Develops, plans, and implements practices and procedures to minimize loan charge-offs from adversely-graded loans ("Special Assets") and to return such credits to performing status.


- On the largest and most complex credits, works closely with officials of the lending and borrowing institutions to review and restructure credit and repayment terms, and to better secure collateral, attain an equity position, or otherwise establish recourse to other borrower assets against the possibility of charge off.


- Coordinates with tax, legal, audit, credit/loan policy, and regulatory officials at the highest levels.


-Develops and implements strategies to recover principal from borrowers whose non-performing loans have been charged off.


-Provides recommendations to top credit and other loan executives about structuring and reviewing credits to reduce fundamental weakness in the company's credit/loan policies.


-The emphasis of the position is to turn around a segment of the company's credits heading for non-performing status and to restructure those already there.

Please refer to Job code DC1656 when responding to this ad.

For FASTEST PROCESSING of your resume, please visit http://www.jobcircle.com/classifieds/1296646.html?source=ng to apply online.

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