Workout Officer

Description

The Work Out Officer is responsible for managing a portfolio with high levels of complexity and will lead all workout activity for assigned accounts. The workout professional in this role is capable of independently managing large and complex accounts, including highly structured lending arrangements.

• Manage the daily activities and personnel of the Collection Department
• Analyze and restructure financially challenged loan relationships
• Manage the annual, semi-annual and quarterly reviews of troubled relationships
• Complete and present Action Plans for Substandard loans
• Work directly with attorneys to process foreclosures, judgements, etc.
• Work with SBA Consultant to liquidate loans while protecting the Bank's SBA guarantee and process the collection of guaranteed funds in a timely manner.
• Manage invoices and approval of collection expenses
• Track delinquent real estate taxes
• Research and implement technology to improve the efficiency of the Collection Department
• Prepare 30+ day past due report for Action Committee discussion monthly
• Complete Action Committee minutes monthly and submit to Board
• Complete Trouble & Watch report for Board monthly

Requirements

• Bachelor’s degree (Business, Finance, or Economics preferred).
• Minimum10 years commercial credit experience (e.g. underwriting, credit risk management, workout, commercial banker)
• Experience in commercial loan workouts
• Demonstrated regulatory knowledge, understanding and ability to apply accounting, banking laws, required rules and regulations, credit policy, and risk-rating requirements necessary.
• Ability to conduct in-depth financial statement analysis required.
• Proven ability to lead a team.
• Strong organizational skills.
• Ability to meet multiple deadlines and manage a variety of projects with deliverables.
• Strong problem-solving skills and focus on implementing solutions.
• Ability to quantify risks and perform objective analyses.
• Excellent problem-solving skills, both individually and in a team environment
• Proficient in Microsoft Office software
• Well-developed written and verbal communication skills