What are the responsibilities and job description for the Loan Workout Specialist position at PeerSource?
PeerSource is currently recruiting for a Loan Workout Specialist on a Direct Hire basis. This role can be based in Dallas TX, Houston TX, San Antonio TX, New Orleans LA, Mobile AL, or Gulfport MS.
Summary
We are seeking an experienced Loan Workout Specialist to manage and rehabilitate delinquent commercial and consumer loans. This role focuses on restructuring credit terms, securing collateral, and minimizing financial losses. The ideal candidate will have a deep understanding of credit analysis, legal procedures, and asset recovery strategies while effectively collaborating with internal teams and external legal counsel.
Responsibilities
- Monitor commercial loan delinquencies and implement strategies for resolution.
- Work with lending and borrowing institutions to renegotiate credit terms and collateral security.
- Develop recovery plans for non-performing loans, including charge-offs and asset liquidation.
- Review loan files and establish action plans in compliance with policies, regulations, and legal requirements.
- Partner with legal counsel to coordinate all legal activities related to loan recovery.
- Assess appraisals and environmental reports for assigned accounts.
- Compile and maintain detailed loan documentation and financial analysis reports.
- Present updates on high-risk loans to review committees and senior management.
- Engage directly with borrowers, attorneys, and financial advisors to negotiate repayment strategies.
- Support loan officers and department managers with deteriorating accounts and action plans.
Required Skills
- 6 years of experience in credit, collections, or loan workout roles.
- Strong knowledge of credit underwriting, collateral recovery, and restructuring strategies.
- Familiarity with tax, legal, and financial regulations related to loan collections.
- Proven ability to manage complex non-performing loan portfolios.
- Experience analyzing and managing large and intricate loan structures.
- Bachelor’s degree in Business Administration, Finance, Accounting, or a related field (or equivalent experience).
- Prior supervisory experience preferred.
H1 sponsorship is not available.
PeerSource is a nationwide recruiting firm that prioritizes building strong relationships with the talented professionals we are fortunate to serve. We offer contract, contract-to-hire, and direct hire opportunities throughout the US and support W2 as well as independent consultants working on a Corp-to-Corp basis. W2 benefits with PeerSource include health, dental, vision, and life insurance as well as a matching retirement plan. Contact us for more details!
