Commercial Workout Officer

SUMMARY: Commercial Workout Officer will be responsible for the oversight of criticized loans portfolio, both commercial and consumer. This includes contacting customers for delinquency and restructures. Working with accounts on non-accrual, adversely risk rating, in foreclosure and legal action. Also responsible for providing quarterly reports for management reporting.

ESSENTIAL DUTIES:

1. On problem credits, works collaborates with borrowers to review and restructure credit and repayment terms, secure collateral, or otherwise establish recourse to other borrower assets to prevent charge-off.
2. Manages the litigation process in coordination with counsel. Works closely with the Chief Credit Officer, Legal Department and Loan Operations.
3. Update status and plan of action for commercial and consumer workout accounts. Include status, plan of action, and time frame for follow-up purposes.
4. Review of current information, collateral, and status to determine likelihood of repayment. Determines alternatives or exit strategy.
5. Completes proposal of work-out strategy for bank approval. Provide supporting documentation. Prepares letter of intent listing terms and conditions of workout.
6. Recommends loans to the Chief Credit Officer or respective committee for loans to be placed on non-accrual, change in risk rating, special reserve allocation and for charge-off.
7. Interacts with senior management, legal, audit, credit, and regulatory officials at the highest levels.
8. Performs site visits to assess collateral.
9. Perform duties and responsibilities specific to department functions and activities or as assigned by supervisor.
10. Required to attend or participate in necessary compliance training, including but not limited to BSA, Security, Information Technology, OFCA, Privacy and applicable BVS courses.

POSITION REQUIREMENTS:

1. Four-year college degree preferred, or 4 years related experience in commercial lending and/or workout and collections. Or equivalent combination of education and experience.
2. Strong analytical skills. Ability to read, analyze, and understand financial reports, and legal documents.
3. Exceptional customer service skills. Ability to respond to complex or difficult inquiries or complaints from customers, regulatory agencies, or members of the business community.
4. Ability to calculate figures and amounts such as discounts, interest, commissions, proportions, and percentages.
5. Intermediate proficiency with accounting, Excel and Word
6. Self-motivated and can work independently
7. Excellent verbal and written communication skills

Job Type: Full-time

Benefits:

• 401(k)
• Dental insurance
• Employee assistance program
• Flexible spending account
• Health insurance
• Health savings account
• Life insurance
• Paid time off
• Vision insurance

Schedule:

• 8 hour shift
• Day shift
• Monday to Friday

Experience:

• Commercial Lending: 4 years (Preferred)

Work Location: One location