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Workout Specialist at Webster Bank

Posted in Banking 30+ days ago.

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Location: Southington, Connecticut

Job Description:
If you're looking for a meaningful career, you'll find it here at Webster. Founded in 1935 by Harold Webster Smith, our focus has always been to put people first--doing whatever we can to help individuals, families and businesses achieve their financial goals. And while we've grown into a leading commercial bank, we remain passionate about serving our customers, supporting our communities, and making a difference in people's lives. We can make a difference in your life, too. By empowering you to build the meaningful career you've been looking for.

Responsibility, respect, trust, teamwork and citizenship are the values on which Webster was founded. Together we call them The Webster Way, and they are what set us apart as a bank and an employer. Guided by these values, we put people first - working hard to live up to our customers, and each other, every day.

This position is responsible for the resolution of problem commercial loans.


  • Manages a commercial loan portfolio and creates appropriate workout plans to resolve the loans.

  • Monitors the progress of workout accounts and recommends any required changes in action necessary to minimize loss or prevent losses.

  • Consults with and provides advice to line lending unit on problem accounts.

  • Ability to effectively negotiate with attorneys, debtor companies, and other creditors and lending personnel to secure appropriate workout arrangements.
  • Recommends accounting changes for non-accrual and charged-off loans. Projects risk rating and accounting changes.

  • Requirements:
    • Bachelor's degree in related field required.
    • 5+ years of experience in bank lending or equivalent experience.
    • Knowledge of banking laws and regulations.
    • Computer skills in Microsoft applications, specifically Word and Excel.
    • Proven ability to work independently and in a high volume environment.
    • Strong written and verbal communication skills.