Managed Assets Team Leader

Job Description

Responsibilities:

Portfolio Management:

• Manage a portfolio of criticized/non-performing assets to better secure collateral and to facilitate collection.
• Work with Workout Managers and Portfolio Managers to ensure that workout/collection strategies are well developed and executed to minimize risk of loss to Bank.
• Oversee the execution of wind-down plans and liquidation of assets by Workout Managers in accordance with approved strategies.
• Working with the Workout Managers and Portfolio Managers, make necessary judgments to protect Bank interests, minimize risk and achieve maximum recovery. Monitor past due reports, identify credit weaknesses and adverse credit trends.
• Interact with and support Division Senior Management, internal and external legal counsel to develop and execute workout/collection strategies.
• Oversee OREO and Note Sales, seeking to minimize cost and maximize recovery recovery to the Bank in accordance with regulatory requirements.
• Responsible for compliance with rules of SBA SOPs for loan servicing and liquidation of the SBA loans within the portfolio.
• Manage legal and other expenses associated with the collection and liquidation of criticized and classified loans.

Problem Loan Management:

• Identify and evaluate borrowers and guarantors, legal and credit files, other lien holders and intercreditors arrangements, collateral and conduct other due diligence as necessary to develop a workout strategy.
• Identify any events of default. Ensure all risks are identified in a timely manner and ratings are consistently applied and reassessed as necessary.
• Present relevant data and recommendations to Managed Assets Director and Division Senior Management/Credit Committee when appropriate. Negotiate with stakeholders and work with legal counsel to facilitate documentation of workout arrangements.

Talent Development:

• Responsible for performance evaluations and individual team member accomplishments to achieve annual goals and action plans for talent development.
• Take a leadership role in business and professional networking activities.
• Develop and maintain a network of qualified third party legal and turnaround professionals.

Internal Compliance/Reporting and Process Improvements:

• Responsible for the team ongoing reporting including ensuring completion of covenant compliance monitoring, regular MAP reporting and impairment reviews as necessary.
• Assist in the preparation of monthly and quarterly Portfolio Reviews, Large Substandard Reports and attend quarterly Credit Risk Management meetings.
• Ensure watch list loans are reviewed to ensure correct risk ratings, ASC 326 impairment, accrual status and MBFD designation and ensure exceptions are corrected on a timely basis. Interact with Finance, Legal, internal and external auditors and Credit Risk Review.
• Identify process workfllows and constraints.
• Recommend solutions to improve productivity.

Coordination with Lending Units:

• Provide positive support to commercial lending groups and shadow Commercial Relationship Managers as a resource in developing strategies during underwriting and restructures to lower risk profiles of marginal credits.

Education and Experience

• Bachelors degree or equivalent experience required.
• Proven underwriting abilities, including a minimum 10 years in Workout.
• Prior experience of supervising a team or equivalent experience required.
• Formal bank credit training preferred.

Skills/Knowledge

• Extensive problem loan management, workout experience and related negotiation skills.
• Ability to solve complex problems.
• Ability to excel with integrity in an entrepreneurial, team-oriented environment.
• Proficient/computer literate in Microsoft applications with the willingness/ability to learn new software as necessary.

About Us

At Eastern Bank, we pride ourselves on supporting our employees by offering tremendous opportunity for individual growth. As an inclusive company, we work to ensure that our valued employees are treated fairly, recognized for their individuality, and encouraged to reach their fullest potential. These values have earned us a reputation as a great place to work and provide a strong reason why you should consider a career with us. We are proud to offer comprehensive compensation plans and a benefits program called Total Rewards that includes medical, dental, vision, life and disability insurance, retirement, vacation and tuition reimbursement.

Eastern Bank is an Equal Opportunity Employer of women, people of color, LGBTQIA+, religion, national origin, citizenship, neurodivergence, age, Veterans, individuals with disabilities, or any other characteristic protected by law.

At Eastern Bank, we are dedicated to building a diverse, equitable, inclusive and authentic workplace. If you're excited about this role but your experience doesn't fully align with every qualification, we still encourage you to apply! You may be just the right candidate for this position or others across the company. Our Recruitment team is waiting to chat with YOU.