ABOUT YOUR ROLE
The Commercial Loan Workout Officer is responsible for managing problem commercial, commercial real estate, and classified multifamily credits within the Special Assets portfolio. This role supports the development and execution of workout, restructure, and recovery strategies designed to mitigate credit risk, protect collateral positions, preserve principal, and improve recovery outcomes. This role partners with lending, credit, legal, borrowers, guarantors, attorneys, and other stakeholders to support effective problem loan resolution and sound credit decision-making. This role also prepares credit analyses, risk assessments, reserve and charge-off recommendations, and portfolio updates while ensuring compliance with Bank policy, lending procedures, regulatory requirements, and approved workout strategies.
WHAT YOU WILL DO LIST
Manage assigned commercial, commercial real estate, and classified multifamily credits within the Special Assets portfolio, applying sound workout practices to mitigate loss exposure, preserve principal, and support recovery outcomes.
Support the development and execution of workout, restructure, and recovery strategies that consider credit risk, collateral protection, borrower performance, legal considerations, regulatory requirements, and Bank policy.
Analyze borrower financial performance, repayment capacity, covenant compliance, collateral value, and credit trends to identify emerging risk and recommend appropriate corrective actions.
Prepare credit approval memoranda, risk assessments, collateral evaluations, reserve analyses, charge-off recommendations, financial updates, and other materials for review by senior credit authorities.
Communicate and negotiate with borrowers, guarantors, attorneys, lending officers, workout officers, and external parties to support resolution of troubled credits while maintaining appropriate risk controls.
Review loan documentation, amendments, restructures, forbearance agreements, collateral actions, and other workout-related materials for accuracy, completeness, policy compliance, and alignment with approved strategies.
Monitor borrower performance, reporting requirements, deadlines, covenants, and agreed-upon action plans to ensure timely follow-up and adherence to workout expectations.
Provide updates for Credit Quality meetings and related reporting, including problem credit status, workout progress, emerging risks, reserve needs, charge-off exposure, and recovery expectations.
Build effective working relationships with lending, credit, legal, portfolio management, borrowers, and third-party partners to support timely problem loan resolution and sound decision-making.
WHAT WE EXPECT OF YOU
Strong knowledge of commercial lending and commercial workout, including banking regulations, credit approvals, banking policy, and related lending procedures.
Working knowledge of bankruptcy, business and real estate law, real estate documentation, and commercial real estate lending practices.
Demonstrated skills in loan documentation review, credit underwriting, credit analysis, financial statement analysis, covenant calculations, debt coverage ratios, and other financial ratios.
Ability to build and maintain effective internal and external relationships by identifying needs, communicating clearly, and supporting practical credit solutions.
Strong written, verbal, and negotiation skills, with the ability to communicate effectively with internal and external stakeholders.
Strong organizational skills, attention to detail, and ability to prioritize and manage multiple responsibilities in a fast-paced environment.
Ability to work independently while collaborating effectively with team members, cross-functional partners, customers, and other stakeholders.
Ability to understand and adapt to loan accounting systems, with proficiency in Microsoft Office, including Word, Excel, and PowerPoint.
YOUR QUALIFICATIONS
Bachelor's degree, preferably in Business, Finance, Accounting, or a related field.
Minimum 7 years of progressively responsible commercial lending, credit, portfolio management, special assets, or loan workout experience.
INTERNAL AND EXTERNAL CONTACTS
Internal contacts will be Lenders, direct reports and Portfolio Managers.
External contacts primarily include external customers and prospects.
WORKING CONDITIONS/PHYSICAL REQUIREMENTS
Office environment. Ability to operate a computer. Ability to communicate in order to exchange simple to complex information with individuals and groups. Ability to travel throughout Bank footprint.
Salary Range - $76,345.00 - $126,210.00
