USAmeriBancorp

Loan Workout Officer

USAmeriBancorp • $70K — $95K *
Fairfield, NJ 07004In-Person
Finance & Insurance
5 - 7 years of experience
Reposted 1 month ago
Job Overview by Ladders

Qualifications

  • Minimum 7 years of experience in commercial credit and distressed credit resolution.
  • Proven track record in negotiating restructures for complex financial scenarios.
  • Strong written and verbal communication skills for high-stakes interactions.
  • Ability to manage multiple criticized relationships while ensuring compliance and accuracy.
  • Understanding of legal documents and procedural terms in bankruptcy and foreclosure.
  • Proficiency in essential computer programs like Word and Excel.
  • Excellent organizational skills to meet multiple deadlines.

Responsibilities

  • Lead management of a portfolio of underperforming commercial loans.
  • Execute strategic action plans for maximum recovery and cost-effectiveness.
  • Monitor financial performance and ensure collateral integrity.
  • Identify and address emerging risks promptly to minimize loss.
  • Analyze financials to determine effective workout strategies.
  • Negotiate borrower and third-party agreements prioritizing bank recovery.
  • Prepare concise credit memoranda and recommendations for senior authority.

Benefits

  • Work in a dynamic environment that prioritizes professional development.
  • Engage in high-level negotiations with borrowers and legal entities.
  • Provide direct impact on financial recovery strategies for the bank.
  • Collaborate with a team of experienced professionals in credit risk management.
  • Maintain compliance with stringent regulatory environments.
Full Job Description
Responsibilities include but are not limited to:
  • Lead the end to end management of a portfolio of criticized, classified, and non performing commercial loans.
  • Develop and execute strategic and legal action plans for each relationship, for cost effective maximum recovery for the bank.
  • Maintain strict oversight of financial performance, covenant compliance, collateral integrity, and borrower-operating trends.
  • Identify emerging risks early and take immediate corrective action to minimize loss exposure.
  • Conduct financial, cash flow, collateral, and global exposure analyses to determine the most effective workout strategy.
  • Recommend forbearance structures, repayment strategies, liquidations, or exits based on quantitative and qualitative assessments.
  • Prepare clear, defensible credit memoranda and recommendations for senior credit authorities.
  • Lead negotiations with borrowers, guarantors, and third parties with a firm, disciplined approach that prioritizes the Bank's recovery and risk position.
  • Establish performance expectations, enforce compliance timelines, and escalate when borrowers fail to meet requirements.
  • Build professional but authoritative borrower relationships that drive transparency and accountability.
  • Partner closely with internal and external legal counsel on litigation, bankruptcy, foreclosure, receivership, and other enforcement actions.
  • Ensure full adherence to regulatory guidance, including OCC requirements for problem loan oversight, classification accuracy, and documentation integrity.
  • Maintain complete and audit ready files, action plans, and system records.
  • Provide clear direction and subject matter expertise to internal partners, including credit risk, operations, valuation teams, and senior management.
  • Communicate credit deterioration, strategic options, and projected losses with precision and urgency.


Required Skills:
  • Strong command of commercial credit, financial statement analysis, and collateral valuation.
  • Proven experience resolving complex distressed credits and negotiating restructures.
  • High level of judgment, assertiveness, and decision making ability.
  • Excellent written and verbal communication skills, especially in high stakes borrower and attorney interactions.
  • Ability to manage a high volume of criticized relationships while maintaining accuracy, timeliness, and regulatory compliance.
  • Ability to use basic computer programs such as Word, Excel, Teams, Zoom and Outlook.
  • The ability to review and understand documents such as notes, guaranties, security agreements and mortgages, and the meaning and significance of provisions and terms contained therein.
  • Understanding of legal proceedings and terms.
  • Excellent organizational skills and the ability to handle multiple projects and deadlines.

Required Experience:
  • High School Diploma or GED equivalent and a minimum of 7 years of related experience.

Preferred Experience:
  • Bachelor's Degree and a minimum of 5 years' related experience, JD degree or training or experience with legal proceedings such as foreclosures, collections actions and bankruptcies.

About USAmeriBancorp

Valley National Bancorp, doing business as Valley Bank, is a regional bank holding company headquartered in Wayne, New Jersey with approximately $42 billion in assets. Its principal subsidiary, Valley National Bank, currently operates over 230 branch locations in northern and central New Jersey, the New York City boroughs of Manhattan, Brooklyn, and Queens, as well as Long Island, Florida, and Alabama. Valley Bank holds approximately $29 billion in assets. ,Valley Bank is one of the largest commercial banks headquartered in New Jersey.
Learn more about USAmeriBancorp
Industry
Legal & Accounting
* Ladders Estimates

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