The Associate, Workout manages accounts of low complexity and proactively facilitates the resolutions of problem loans in a cost effective manner. S/he minimizes potential losses to the Company by identifying areas of concern, opportunities, reports on potential and/or known issues, recommends process improvements. and implements solutions to existing programs in accordance with risk management objectives and corporate budgets.
Monitors activities to minimize the company’s exposure to risk. Activities may include quantitative analysis, risk identification and remediation. Represents or supports the reputation of the company to minimize compliance and regulatory risk by resolving issues and ensuring adherence to company and legal standards. Responsible for ensuring that all of the company’s activities adhere to the necessary rules and regulations, and that the company complies with legal/regulatory statutes and jurisdictions.
Ensures adherence to the policies and procedures established by the company. Manages policy, standard definition and monitoring of policy, standard implementation, ensuring harmonization and consistency of risk policies. Monitors and manages risk/exposure and compliance with the company’s policies. Identifies, manages and reports on the company’s risk areas. Evaluates the adequacy and effectiveness of data, document retention, and monitors systems.
Manages accounts of low complexity, in accordance with risk management objectives and corporate budgets.
- Facilitates the resolution of problem loans through improved credit quality or repayment, in a cost effective manner.
- Generates new income via late fees, fees for waivers, prepayment fees.
- Reviews adequacy of assigned risk ratings and provide support for risk rating upgrade and downgrade recommendations.
- Resolves challenges and issues in providing lending solutions to clients.
- Develops system solutions to generate proper portfolio reporting and maximize current software capabilities to improve effectiveness or efficiency of portfolio monitoring.
- Collects financial information, communicates with loan applicants and credit administration to ensure approved loans are booked, funded, and managed in a proper and timely manner.
- Maximizes respective portfolio profitability growth by focusing on value add relationships and transactions.
- Participates in or lead the implementation of process and procedure changes.
- Maximizes revenue by generating new income via increased pricing, default interest, or deferred accruals
- Ensures compliance with training, statutes, valuation and environmental policy.
- Supports senior workout professionals in the management of troubled loan relationships.
- Maintains abreast emerging risk trends and risk management best practices; summarizes and communicates findings with team.
- Coaches and reviews the work of junior workout professionals, when needed.
At Santander, we value and respect differences in our workforce and strive to increase the diversity of our teams. We encourage everyone to apply.
Bachelor’s Degree or equivalent work experience required
- Master’s Degree preferred
- 5-9 years’ experience
- Practical knowledge of corporate regulatory requirements, and factors influencing the business in which the Corporation operates.
- Practical knowledge of key business control areas (Audit & Risk Review, Risk Management, Finance, Human Resources, and Legal) and governmental regulatory agencies.
- Ability to resolve complex situations with internal clients and regulators, while maintaining a professional presence.
- Ability to quickly respond to inquiries from regulatory agencies, internal partners, and external consultants.
- Ability to read, analyze and interpret government regulations, trade journals and legal documents
- Ability to effectively deal with senior management as well as, Federal/State and other Regulators
- Ability to work cross-functionally as a team player.
- Ability to mentor and guide staff and numerous projects simultaneously.
- Ability to influence others, including senior leadership.
- Excellent verbal and written communication skills.
- Advanced Microsoft Office (Excel, Word, PowerPoint, Outlook, Sharepoint) skills.
- Strong project management skills.
:New York-Melville-3 Huntington Quadrangle – 06471 – Melville