Job Responsibilities
Manage the loss mitigation staff of a mid size commercial bank.
retail Direct the activities of asset managers. Mange the bank's
larger, more complex classified commercial loan relationships.
Develop and implement financing programs that will reduce the
bank's exposure on its commercial loan potfolio. Manage all the
bank's foreclosed real estate. Prepare senior management reports
on loan delinquencies. Manage all litigation resulting from loan
defaults.
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Uppers
Satisfaction in resolving problems.
Ability to draw upon my broad experience in the performance of my duties.
Authority to implement my programs in the performance of my responsibilities.
Development of customer relationships as a result of bringing the account back
to a performing (stisfactory) basis.
Management of a staff of professionals.
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Downers
Low level of compensation for collectors result in having to
accept some who are minimally qualified.
Constant pressure on this month's results with management always
seeking to "keep the numbers down"
Daeling with bboken promises and fraud on the part of the
borrowers.
Lengthy litigation time due to borrowers raising specious
defenses.
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Lifestyle
While the work week is normally Monday through Friday some Saturday's are
required. The bank has a 40 hour week but this position always required more time
with no extra compensation.
Strict dress code for men. Suits and ties with no casual days.
Work force demonstrated divrsity of the community although senior mangement was
primarily white female and male.
The bank kept strict tabs on employee buisness expenses.
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Compensation
Base salary was in the mid 50's There was a bonus plan. One level
was available to all employess with vice presidents and above
entitled to an enhanced bonus program.
A single medical plan that was somewhat expensive for dependent
coverage.
An investmetn plan was available for all employees.
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Advice to Jobseekers
Demand for people in this area fluctuates with the economy, the
weaker it is the more loan problems there are.
To succeed in this field two pomary skills are needed. First a
solid background in commercial credit analysis, and secondly, and
perhaps most important, the ability to analyze a problem and then
the ability to negotiate a resolution with the customer.
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