Portfolio Recovery Specialist
4 days ago
World Business Lenders, LLC is a U.S.-based company providing short-term real estate collateralized commercial loans to small and medium-sized businesses throughout the United States.
Job Description
As a Contract / Consultancy Position, we are seeking an experienced Portfolio Recovery Specialist to join our team. This role involves managing a large portfolio of non-performing real estate collateralized commercial loans, including REO. You will be responsible for supervising Asset Resolution/Collections/REO Department staff, analyzing loan, borrower, and guarantor characteristics, consulting with local counsel to develop recovery strategies, and achieving optimal resolutions.
Key Responsibilities:
- Manage and monitor a non-performing real estate collateralized commercial loan portfolio, including REO.
- Conduct proactive and effective portfolio management in accordance with established performance standards.
- Prepare annual collection budget.
- Hire, supervise, train, and develop Asset Resolution/Collections/REO Department staff.
- Case assignment and workload balancing among staff.
- Review/develop collection strategy recommendations.
- Oversee collection process.
- Reviewed pleadings.
- Manage case settlement process; propose offers/counteroffers.
- Oversee management of REO portfolio.
- Monitor and approve timely payment of REO related expenses (taxes, maintenance, utilities, fees, etc.).
- Approve listing agreements and monitor broker performance.
- Manage sale process; propose offers/counteroffers/bidding instructions.
- Perform extensive quarterly review of all defaulted assets to confirm or reassess recovery estimate and report any factors projected to impact P&L/Balance Sheet.
- Perform advanced statistical analysis of portfolio default trends and a comparative analysis of the static pool v. dynamic pool progression.
Requirements and Qualifications:
- Previous experience in legal billing is mandatory, preferably in the US.
- Degree in Law, Business Administration, or Finance.
- Experience supervising/developing/mentoring a case management staff.
- Timely management of case loads.
- US Legal and/or Real Estate experience strongly preferred.
- Strong analytical skills and an innovative approach to solving both practical and theoretical problems.
- Excellent organizational, communication (both written and verbal) and computer skills.
- Able to work in a fast-paced, deadline-driven environment and handle multiple projects simultaneously.
- Detail-oriented and resourceful with excellent follow-through skills.
- Proficient in all Microsoft Office, Power BI, and Adobe applications.
- Able to establish and maintain effective work relationships both internally and externally.
Benefits:
- Contract / Consultancy Position.
- Estimated salary: $100,000 - $150,000 per year, depending on experience.
- 11 Paid Holiday Days per year.
- 100% Remote Working.
- USD Salary.
The estimated salary range is based on industry standards and the candidate's level of experience.
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