Commercial Loan Workout Officer
$1,000,000–$1,000,000 year
HybridMerrillville, Indiana, United States
Job Summary
Manage a portfolio of distressed and performing commercial loan accounts up to $1.5 million, including substandard, special mention, watch, and pass rated loans. Develop, negotiate, and document loan renewal agreements, forbearance terms, and legal strategies while collaborating with legal counsel. Conduct due diligence in compliance with organizational policies and assist senior officers in credit risk reviews. Collaborate with borrowers, lenders, operations staff, attorneys, and real estate brokers to achieve loan recoveries and reduce credit losses. Perform local and occasional regional travel as required. Report to the Manager of Credit Risk Management within the Credit Administration Division.
Required Qualifications
- Bachelor's degree with concentration in business, finance, or accounting
- 2 to 3 years of prior commercial workout experience
- Prior commercial lending experience
- Prior credit underwriting experience
- Prior portfolio management experience
- Prior financial analysis experience
- Prior documentation experience
- Prior examination experience
- Prior audit experience
- Prior compliance experience
- Prior SBA experience
- Effective organizational skills
- Time management skills
- Multi-tasking skills
- Problem-solving skills
- Excellent written communication skills
- Excellent verbal communication skills
- Collaboration with all Credit Risk Management staff
- Direct work with borrowers
- Direct work with lenders
- Direct work with operations staff
- Direct work with documentation staff
- Direct work with credit analysts
- Direct work with attorneys
- Direct work with property managers
- Direct work with real estate brokers
- Completion and maintenance of customary and additionally determined necessary due diligence
- Compliance with organizational policies and guidelines
- Some travel
- Local travel
- Regional travel
Desired Qualifications
- Bachelor's degree 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
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