Workout Officer

The Workout Officer (AVP, Sr. Associate, Workout) leverages their subject matter expertise for collection and work out of a portfolio of problems loans, efficiently executing workout strategies while proactively minimizing potential losses to the Company. The incumbent is responsible for management of a portfolio of workout cases and repossessed assets including developing, recommending, and executing workout strategies for each portfolio case.

The Workout Officer also monitors activities to minimize the company's exposure to risk. Activities may include quantitative analysis, risk identification and remediation. Represents or supports the reputation of the company to minimize compliance and regulatory risk by resolving issues and ensuring adherence to company and legal standards. Responsible for ensuring that all the company's activities adhere to the necessary rules and regulations, and that the company complies with legal/regulatory statutes and jurisdictions.

• Manages a portfolio of problem loan assets, including developing and executing workout strategies, action plans and disposition actions.

• Recommends appropriate risk ratings, SCAN ratings, charge-offs, reserves, and accrual status for each loan.

• Manages loan workout process expenses and division and corporate expense targets

• Ensures approved strategies result in reduction of criticized and classified exposures in accordance with risk management objectives and corporate budgets.

• Performs analysis of credit submittals regarding transactions and / or financial strengths to ascertain if borrowers qualify for financing restructures. Develop and recommend for approval charge-offs, reserves, settlements, and Loan Restructures as appropriate.

• Coordinates reporting, analysis, and vendor management for assigned portfolio.

• Monitors portfolio and quality assurance in compliance with corporate policy.

• Ensures compliance with training, statutes, valuation and environmental policy

• Oversees and ensures consistent quality control, accuracy, and compliance with internal policies and regulatory requirements for reporting processes.

• Mentors and coaches work of junior level workout professionals.

• Leads special workout projects, programs, and other related workout activities.

• Communicates recommendations and credit risk management processes to management that strengthens the organization and enhances overall supervision of lending methods and provides tools to continually measure effectiveness.

Qualifications:

• Education: Bachelor's Degree in Business, Accounting, Finance, Economics or equivalent work experience required. Master’s Degree, Business, Accounting, Finance, Economics or equivalent field preferred.

• Experience: 9+ years in Commercial & Industrial ("C&I") Loan Workout.

• Advanced knowledge of credit risk management, collection and workout best practices, identification, resolution and implementation.

• Demonstrated experience facilitating change to achieve measurable results.

• Detail orientated with the ability to also understand overall strategy.

• Excellent interpersonal, supervisory, and customer …