Job Requirements:
- Collects and resolves problems on troubled loans Secures collateral, equity or assets of the borrower to preserve the loan principal, gathers interest and prevents the loan from being placed on non-accrual and prevents or limits losses.
- Responsible for the workout of adversely graded loans through the restructuring of debt, negotiation of settlement agreements, pursuit of appropriate legal action and/or the liquidation of collateral.
- Liquidates real estate or other assets as necessary and/or manages properties or other assets owned by bank.
- Reviews lender liability issues to avoid lawsuits and keep legal expenses under control.
- Develops good working relationships with internal and external industry contacts.
- Maintains knowledge of laws, regulations, internal policies and procedures appropriate to the position.
- May provide assistance to less experienced Workout Officers.
- Other duties as assigned.
Qualifications:
- Requires a Bachelors in Finance, Business, Accounting or related field and 10+ years commercial/business loans, lending laws, credit analysis, credit monitorins, loan workouts, lending or other directly related experience. A combination of education and experience may meet qualifications.
- Expert knowledge of commercial/business lending, lending law, bankruptcy law and cash flow analysis.
- Expert knowledge of collection processes and practices.
- Excellent interpersonal and communication skills, both oral and written required.
- Excellent analyses, negation and problem resolution skills.
- Ability to work individually and as part of a team.
- Ability to identify, research, coordinate and resolve issues.
- Must be organized, detail-oriented and able to multi-task.
- Excellent computer skills (Excel, Word, PowerPoint).
- Expert knowledge of Risk Grading.
- Applies advanced principles, theories, and concepts.
- Contributes to the development of innovative principles and ideas.
- Ability to lead and train lower level staff.
