Loan Workout Manager

Loan Workout ManagerLocation: Greater Philadelphia AreaBase Pay: $95,000-$150,000*The Loan Workout Manager is responsible for overseeing the Banks distressed credit portfolio, with direct accountability for managing recovery efforts across both commercial and consumer loans. This individual plays a critical role in developing, negotiating, and executing strategies with borrowers and legal representatives to resolve non-performing assets while ensuring adherence to internal credit policies, industry regulations, and applicable legal standards.Primary Duties:Monitor credit quality and proactively flag accounts showing early signs of distress; contribute to internal credit risk ratings and provide input to leadership on risk-related matters.Review borrower financials, loan agreements, and credit histories to assess exposure and guide decision-making.Partner with borrowers and legal advisors to structure and negotiate feasible resolution strategies aimed at minimizing potential loss.Lead monthly Delinquency and quarterly Special Asset Committee meetings.Prepare activity reports for Senior Management and Regulatory agencies.Recommend strategic next steps to executive management and oversee execution of agreed-upon solutions.Lead the end-to-end collections process, including foreclosure proceedings when necessary.Compile and share activity reports with executive leadership and regulatory bodies, as required.Administer insurance claim processes tied to secured collateral.Serve as back-up to the appraisal process, as needed.Comply with all State, Federal, and local laws, as well as Bank regulations.Experience & Skills Required:At least five years of hands-on experience in special assets, commercial workouts, or comparable commercial credit disciplines.Familiarity with loan documentation, legal processes, and financial statement analysis; prior paralegal experience or certification is a plus.Well-versed in debt collection regulations such as the Fair Debt Collection Practices Act.Proven ability to assess risk, negotiate outcomes, and manage sensitive borrower situations.Working knowledge of appraisals, inspections, and other third-party reports used in credit decisions.Strong communication and organizational skills, with the ability to balance multiple high-priority initiatives.*Compensation: As required by law, Highland Consulting Group believes that the salary range listed above reasonably reflects the base compensation for this position in jurisdictions where such disclosure is mandated.