What are the responsibilities and job description for the Business Banking Resolution and Default Specialist - Credit Resolution position at WesBanco Bank, Inc.?
SUMMARY:
In this role, you will be responsible for the administration of a portfolio of troubled and / or distressed business banking loans with exposure up to $500,000. Primary responsibility includes developing and implementing credit administration strategies that minimize the Bank’s potential loss on each assigned credit. Must have a thorough knowledge of commercial collection practices, and the ability to effectively negotiate appropriate exit or remediation strategies with borrowers. Works closely with Bank Management, business bankers, and legal counsel to protect the Bank’s interests and ensure compliance with all laws and regulations. Continues collection efforts, make phone calls, and draft demand letters on delinquent loans for the assigned credits. Supports and assists with training for the Business Resolution Specialist position.
CUSTOMER SERVICE SKILLS:
Willingness to provide a level of service which will clearly differentiate us from our competitors.
INTERPERSONAL SKILLS:
Professional demeanor in appearance, interpersonal relations, work ethic and attitude.
Possess clear, concise, effective written and oral communication skills to effectively express thoughts, ideas and concepts to management, bank employees and bank customers in a collaborative and solutions oriented manner.
Ability to identify redundancies and inefficiencies, make recommendations and successfully implement a solution.
Ability to quickly assess a situation and make a decision.
Demonstrate confidence, assertiveness, and professionalism.
Ability to define problems, collect data, establish facts and draw valid conclusions.
Attention to critical details to properly identify potential issues.
Effective organizational skills and promptness
ESSENTIAL DUTIES AND RESPONSIBILITIES:
Reviews loan files upon assignment to understand the transaction and circumstances.
Takes appropriate action to enforce the Bank’s right or position with respect to the loan and collateral.
Discusses issues with supervisor, other management personnel, and/ or legal counsel to develop strategies and solutions.
Appropriately documents loan files with respect to action taken and pertaining to each assigned account.
Works with third parties when appropriate to dispose of collateral.
Interacts with and directs the activities of business banking officers on accounts that are being handled on a shared responsibility basis.
Works with BBS to review and analyze financial statements to determine financial strength of the borrower, and determine a workout strategy with guidance from management.
Responds to common inquiries or complaints from customers.
Maintains a comprehensive knowledge of applicable state and federal regulations relating to collections / work outs.
Develops and implements credit administration strategies that minimize the Bank’s potential loss with guidance from management.
Works with department management and business bankers to ensure assigned accounts are managed in accordance with Bank’s Credit Policy and applicable laws and regulations.
Prepares and mails payment default letters when required, and as dictated by management.
Manages day-to-day collection activity on assigned accounts through the CARM-Pro business system.
Other duties and responsibilities as assigned.
OTHER REQUIREMENTS:
Banking is a highly regulated industry and you will be expected to acquire and maintain a proficiency in the Bank's policies and procedures, and adhere to all laws, rules and regulations that are applicable to your conduct and the work you will be performing. You will also be expected to complete all assigned compliance training in a timely manner.
Proficient in Microsoft Office, including Word, Excel and Outlook.
Ability to utilize core banking system and collections software.
Associate's or Bachelor’s Degree in business related field is a plus.
Minimum of three years of experience working commercial loan documents preferred.
Previous collections experience required; commercial collections preferred.
Equal Opportunity Employer Minorities/Women/Protected Veterans/Disabled
In this role, you will be responsible for the administration of a portfolio of troubled and / or distressed business banking loans with exposure up to $500,000. Primary responsibility includes developing and implementing credit administration strategies that minimize the Bank’s potential loss on each assigned credit. Must have a thorough knowledge of commercial collection practices, and the ability to effectively negotiate appropriate exit or remediation strategies with borrowers. Works closely with Bank Management, business bankers, and legal counsel to protect the Bank’s interests and ensure compliance with all laws and regulations. Continues collection efforts, make phone calls, and draft demand letters on delinquent loans for the assigned credits. Supports and assists with training for the Business Resolution Specialist position.
CUSTOMER SERVICE SKILLS:
Willingness to provide a level of service which will clearly differentiate us from our competitors.
INTERPERSONAL SKILLS:
Professional demeanor in appearance, interpersonal relations, work ethic and attitude.
Possess clear, concise, effective written and oral communication skills to effectively express thoughts, ideas and concepts to management, bank employees and bank customers in a collaborative and solutions oriented manner.
Ability to identify redundancies and inefficiencies, make recommendations and successfully implement a solution.
Ability to quickly assess a situation and make a decision.
Demonstrate confidence, assertiveness, and professionalism.
Ability to define problems, collect data, establish facts and draw valid conclusions.
Attention to critical details to properly identify potential issues.
Effective organizational skills and promptness
ESSENTIAL DUTIES AND RESPONSIBILITIES:
Reviews loan files upon assignment to understand the transaction and circumstances.
Takes appropriate action to enforce the Bank’s right or position with respect to the loan and collateral.
Discusses issues with supervisor, other management personnel, and/ or legal counsel to develop strategies and solutions.
Appropriately documents loan files with respect to action taken and pertaining to each assigned account.
Works with third parties when appropriate to dispose of collateral.
Interacts with and directs the activities of business banking officers on accounts that are being handled on a shared responsibility basis.
Works with BBS to review and analyze financial statements to determine financial strength of the borrower, and determine a workout strategy with guidance from management.
Responds to common inquiries or complaints from customers.
Maintains a comprehensive knowledge of applicable state and federal regulations relating to collections / work outs.
Develops and implements credit administration strategies that minimize the Bank’s potential loss with guidance from management.
Works with department management and business bankers to ensure assigned accounts are managed in accordance with Bank’s Credit Policy and applicable laws and regulations.
Prepares and mails payment default letters when required, and as dictated by management.
Manages day-to-day collection activity on assigned accounts through the CARM-Pro business system.
Other duties and responsibilities as assigned.
OTHER REQUIREMENTS:
Banking is a highly regulated industry and you will be expected to acquire and maintain a proficiency in the Bank's policies and procedures, and adhere to all laws, rules and regulations that are applicable to your conduct and the work you will be performing. You will also be expected to complete all assigned compliance training in a timely manner.
Proficient in Microsoft Office, including Word, Excel and Outlook.
Ability to utilize core banking system and collections software.
Associate's or Bachelor’s Degree in business related field is a plus.
Minimum of three years of experience working commercial loan documents preferred.
Previous collections experience required; commercial collections preferred.
Equal Opportunity Employer Minorities/Women/Protected Veterans/Disabled
Salary : $500,000
