Summary: As a member of the Credit Risk Management team within the Credit Administration Division, the Commercial Loan Workout Officer position reports to the Manager of Credit Risk Management.
Essential Duties and Responsibilities:
- Primary responsibilities the successful management of a portfolio of assigned substandard, special mention, watch, and pass rated commercial loan accounts, and ORE.
- Will manage a portfolio of distressed loans or relationships up to $1,000,000 and performing loans or relationships up to $1,500,000.
- Requires the development, negotiation, and documentation of loan renewal and modification agreements, forbearance agreements, and legal strategy in collaboration with bank counsel. Measurements include demonstrated reductions in distressed loans, credit risk, credit losses, and achieved recoveries. The position assists senior commercial workout officers and completes credit risk reviews as assigned.
- The position works closely and collaborates with all Credit Risk Management staff. The position works directly with those including borrowers, lenders, operations staff, documentation staff, credit analysts, attorneys, property managers, and real estate brokers.
- Requires completion and maintenance of customary and additionally determined necessary due diligence in compliance with bank policies and guidelines.
- Some travel is required. Travel requirements are primarily local. Occasional regional travel may be required.
Skills and Abilities:
- Requires effective organizational, time management, multi-tasking, and problem-solving skills.
- Excellent written and verbal communication skills are required.
- Proven experience in collateral analysis along with commercial loan documentation experience required.
Education and Experience
- Bachelor’s degree with concentration in business, finance, or accounting preferred. Additional Bachelor’s degree concentrations considered in relation to past and present experience, responsibilities, continuing education, and certifications. Associate degrees with progress toward bachelor’s degrees considered similarly.
- 1 to 3 years of prior commercial workout experience or a combination of prior commercial lending, credit underwriting, portfolio management, financial analysis, documentation, examination, audit, compliance, and SBA experience considered.
- Individuals in existing roles including commercial loan portfolio managers, commercial credit analysts, commercial small business lenders, SBA lenders, commercial loan reviewers, and commercial loan administrators are encouraged to apply.
- This position includes hybrid work potential.
- Continued education is supported.
- Opportunities for growth and advancement within Credit Risk Management, Credit Administration, and career pathing among at least commercial lending, credit risk management, audit, and compliance departments are available.