Vice President Credit Union
Resume:
Robert A. Millus
Staten Island, New York 10309-1688
*************@*****.***
EXECUTIVE SUMMARY
Banking executive with extensive experience in loan portfolio management and distressed loan recovery. Particularly effective in identifying key issues in credit consideration and assessing underlying enterprise values.
PROFESSIONAL EXPERIENCE
Pentagon Federal Credit Union, New York, New York F/K/A Progressive Credit Union Loan Workout Specialist (September, 2016 – February, 2025) Responsible for the collection, restructuring and closing out of various non-performing loans where the collateral was a taxi cab medallion. Functions of the job are:
• Actively Manage Loan Portfolio of over 65 loans valued at over 100 Million dollars. Create strategies and action plans to obtain repayment of the delinquent loans. Assess the effectiveness of the strategy employed and keep senior management apprised of developments.
• Prepare credit analysis memo/modifications with the proposal for “TDR” (Troubled Debt Restructuring) with mention of the potential for using an “A” and “B” Note structure and discuss the potential for Discounted Pay-Offs/Settlement Offers.
• Medallion Relief Program- Preparing Loan Relief Modifications in association with the New York City Taxi Limousine Commission. COVID Assistance.
• Work with both in-house and outside counsels to prepare the necessary documentation.
• Monitor the developments of the restructured credit through contact with the debtor, the ability of the debtor to comply with the restructuring while keeping in contact with the market for the changing values of the medallions and access to drivers.
• Prepare with senior management the appropriate levels of reserves and/or write-offs on the various loans.
City National Bank of New Jersey, Newark, New Jersey Special Assets Officer (June, 2011 - September, 2016)
• Oversaw the credit management of a commercial loan portfolio of criticized or non- performing loans valued at approximately $85 million.
• Determined the compliance with credit policy and regulatory reviews of the distressed assets by performing and maintaining updated financial analysis, collateral valuations, and documentation reviews.
• Administered the liquidation of collateral assets including residential and commercial real estate, equipment, inventories, receivables and vehicles. New York City Economic Development Corporation, New York, New York Vice President/Department Manager of Credit and Compliance (1995 - 2011)
• Provided quarterly and annual risk analysis for the corporation’s full portfolio of more than 500 active straight lease bond transactions for New York City’s Industrial Development Agency (NYCIDA). The portfolio of bonds had an aggregate value of
$23 billion.
• Collected, analyzed and verified information essential to comply with the statutory reporting requirements of legislative oversight entities.
• Responsible for the enforcement of mandated compliance for the full portfolio of the NYCIDA transactions.
Vice President and Department Manager for Workout Loans (1999-2004)
• Evaluated problem credits and restructured loans to bring about the maximum collection from the debtor.
• Interfaced with outside project finance groups and bankers on problem loans and made presentation on the meetings and loan developments to the Trustees of the Industrial Development Agency.
• Presented alternative strategies for borrowers who were subject to potential fines, penalties, defaults and litigation.
Assistant Vice President (1998-1999)
• Monitored borrowers and NYCIDA project companies for adherence to their contractual obligations to NYCEDC and/or New York City.
• Presented proposals to the Executive Committee and NYCIDA Board for approval of loan and bond restructuring.
Senior Project Manager (Small Business Unit) (1995 - 1998)
• Identified problematic loans by means of delinquency reports, late payment of property taxes, site visits, and discussion with senior lenders.
• Was responsible in the area for a portfolio consisting of 100 loans with an aggregate loan outstanding of $110 million.
United States Small Business Administration, New York, New York Loan Specialist (1990 - 1995)
• Managed the collection of a $25 million portfolio of loans that consisted of 4,900 with a very high rate of delinquency
• Proposed action plans to be taken on all delinquent loans. EDUCATION
• BA, Communications at St. Francis College, Brooklyn, New York
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