Sr. Recovery Specialist SXM

Reports to: Manager Documentation & Recovery and Branch Manager

Key responsibilities: 

 

• Loan performance monitoring: Monitor loan performance to ensure compliance with loan agreements, escalating issues to the Management Board as necessary. Manage a portfolio of troubled loans by conducting complex financial analyses and risk assessments to identify and address potential issues. 

• Client communication and Recovery plans: Communicate with clients to discuss repayment options and develop customized recovery plans tailored to their financial circumstances. Establish a high level of trust with assigned clients to enable effective monitoring of changes in their business and personal engagement in managing operations. 

• Internal collaboration: Liaise with internal stakeholders, including Credit Documentation, Legal, and loan servicing teams, to ensure effective management and oversight of troubled loan portfolios. 

• Reporting and documentation: Prepare formal reports and Problem Loan Reports, presenting them to the Management Board as required. Accurately identify collateral, assist in assessing classified collateral impairment, and prepare charge-off analyses, recommending losses in accordance with bank policies and procedures. 

• Strategic recovery and Risk management: Develop and implement sound strategies for minimizing losses and maximizing recovery, including negotiating workout agreements with clients. Recommend timely changes to loan risk ratings and classifications to Credit Documentation. 

• Recovery proposal analysis: Analyze recovery proposals submitted by the Recovery Specialist and prepare proposals for submission to the department manager. 

• Training and development: Assist the department manager in designing and implementing training programs that enhance team skills and performance. Mentor staff, create training materials, and conduct workshops to support high service standards and compliance, while focusing on continuous improvement and team growth. 
• Perform other duties as assigned: Additional responsibilities may be required as needed, ensuring flexibility in addressing evolving business needs and supporting the overall success of the team and clients.

Requirements: 

 

• Educational background: Bachelor’s degree in business administration, finance, or a related field.  

• Experience: 5-7 years of experience in account management or a similar role, with a strong focus on direct sales and client relationship management. Extensive experience in the banking industry is highly desirable. 

• Regulatory knowledge: Comprehensive understanding of industry regulations, compliance standards, and risk management practices. Ability to ensure rigorous adherence to regulatory requirements and proactively manage potential issues. 

• Banking software: Advanced proficiency in banking software and Microsoft Office Suite, with the ability to leverage these tools for strategic and operational effectiveness. 

Skills: 

 

• Strategic thinking: Advanced capability to think strategically, aligning actions with overarching business goals. Demonstrated experience in identifying areas for improvement, formulating innovative solutions, and driving strategic initiatives. 

• Effective communication: Expert in both written and verbal communication, with a proven track record in reporting, policy development, and impactful stakeholder engagement. 

• Leadership: Demonstrated leadership in driving team performance and operational improvements.  

• Team collaboration: Proven ability to work effectively both independently and as part of a team.  

• Problem solving: Highly skilled in navigating complex financial discrepancies, compliance issues, and operational challenges, providing innovative and effective solutions to drive results. 

• Organizational and time management: Superior organizational abilities with a proven track record in prioritizing tasks, managing multiple high-priority projects simultaneously, and consistently meeting tight deadlines. 

• Financial acumen: Proficient in applying basic financial principles and practices. 

• Ethics and integrity: Exemplary ethical standards with a strong commitment to acting with integrity in all professional scenarios, fostering trust and credibility. 

 Application Deadline: April 6th, 2025.