Senior Commercial Workout Officer

NBT Bank; Hamilton; On-site; CAD 109,000 - 146,000; Full time

Job summary

A leading bank is seeking a Senior Commercial Workout Officer to manage high-risk loan portfolios and develop solutions to mitigate risks. This role requires strong negotiation skills, a thorough understanding of commercial lending practices, and the ability to maintain borrower relationships. Ideal candidates will have a Bachelor's degree and extensive experience in commercial lending and workouts, along with the capacity to handle complex financial agreements.

Benefits

Generous Paid Time Off

Parental Leave

Comprehensive Medical Coverage

Dental and Vision Coverage

Flexible Spending Accounts

Employer-Paid Disability Coverage

Life Insurance

Voluntary Benefits

Retirement Plans

Tuition Reimbursement

Qualifications

• 15 years of combined commercial lending and workout experience, with 5 years in commercial workout preferred.
• Strong understanding of business collection laws and regulations.

Responsibilities

• Manage a portfolio of high-risk relationships to mitigate loss.
• Develop and maintain relationships with borrowers for complex restructurings.
• Provide advice and consultation to lending teams to improve asset quality.

Skills

Commercial Lending

Credit and Collateral Analysis

Negotiation Skills

Communication Skills

Organizational Skills

Education

Bachelor's Degree or equivalent experience

Job description

Join to apply for the Senior Commercial Workout Officer role at NBT Bank

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Join to apply for the Senior Commercial Workout Officer role at NBT Bank

Pay Range : $109,085.00 - $145,462.00

Responsible for managing a portfolio of high-risk C & I, CRE and Business Banking relationships, specifically, but not limited to those with the most complex nature and larger exposures. Responsible for analyzing assigned relationships, evaluating information from a range of sources, and to develop solutions appropriate for each situation to mitigate the risk of loss to the Bank and / or reduce the level of non-performing assets. Responsible for developing and maintaining strong working relationships with borrowers; successfully negotiating the more complex restructurings and loan agreements, and implementing such plans, including exit strategies, while ensuring compliance with any regulatory requirements. Ability to identify and recommend referral of accounts for liquidation and / or legal action, when necessary, and oversee all aspects of these processes to maximize recovery while controlling expenses.

Education and Experience :

• Bachelor's Degree or equivalent education and experience
• 15 years of combined commercial lending / commercial workout experience, with at least 5 years of commercial workout experience preferred

Skills and Abilities :

• Comprehensive and advanced understanding of Commercial Lending, credit and collateral analysis.
• Extensive knowledge of business collection laws and regulations and understanding of the different requirements and options available in each of the states in which the Bank does business
• Strong credit skills, including the ability to analyze all levels of financial statements
• Thorough knowledge of any specific requirements for handling problem loans under SBA, FSA, USDA or other government guaranty programs
• Strong negotiation skills are key to successful implementation and execution of a workout plan. The officer must be able to gain the borrower’s support by displaying knowledge of the business and the underlying challenges, thus ensuring a cooperative relationship.
• Strong judgment and organizational skills are required.
• Effective communication skills, both written and verbal, are essential.
• Must be able to manage multiple cases, work under pressure and work independently with minimal supervision.

Unique Job Characteristics and Requirements :

Some travel required. Working nights and weekends may be required on occasion.

• 45% Shadow Account Management : Working in tandem with the commercial lending team on high-risk line handled loan relationships in an effort to prevent further deterioration. The goal would be to fix, modify, retain or exit relationships to prevent further deterioration and have a positive impact on asset quality. This will be accomplished by providing advice and consultation to the commercial lending team, credit administration, the borrower, participant lenders, legal counsel and various third-party vendors. Early identification of risk and implementation of a comprehensive workout strategy will be the hallmarks.
• 45% Asset Quality Remediation : management of the highest risk commercial loans. This includes non-accruals, foreclosures, liquidations, bankruptcies and ORE. Working with internal peers, including but not limited to credit administration, commercial lending, accounting, loan review and the Borrower and all third-party vendors to develop and employ workout strategies designed to improve asset quality metrics (criticized, delinquency, non-accrual, ORE, loss and recoveries).
• 5% Responsible for maintaining, marketing and managing disposition of other assets acquired by the Bank, including foreclosed real estate OREO.
• 5% Other duties as assigned.

Physical Requirements :

• Communicate effectively with internal and / or external customers
• Stationary 75% of time or greater
• Move Objects to Maximum 10 lbs

Benefits for Full-Time Employees :

• Generous Paid Time Off : At least 22 days annually, prorated in the year of hire.
• Parental Leave : Six weeks of paid leave at 100% of your salary.
• Comprehensive Medical Coverage : Includes employer contributions to HSA for High Deductible Health Plan participants.
• Dental and Vision Coverage : Ensuring your overall health and well-being.
• Flexible Spending Accounts : For healthcare and dependent care expenses.
• Employer-Paid Disability Coverage : Both short-term and long-term, with an option to purchase additional long-term coverage.
• Life Insurance : Employer-paid basic life insurance, with an option to purchase supplemental coverage.
• Voluntary Benefits : Including hospital, accident, and critical illness coverage.
• Retirement Plans : Benefit from a 401(k) plan with employer matching, an optional Roth 401(k), and a pension plan to help secure your future.
• Adoption Assistance : Supporting your growing family.
• Tuition Reimbursement : Invest in your education and career growth.
• Employee Assistance Program (EAP) : Access to support and resources.
• Financial and Banking Services : Various benefits and financial planning assistance.

Benefits for Part-Time Employees Working 20+ Hours / Week :

• Medical Coverage : Includes employer contributions to HSA for High Deductible Health Plan participants.
• Generous Parental Leave : Six weeks of paid leave at 100% of your salary.

Benefits for All Part-Time Employees :

• Retirement Plans : Benefit from a 401(k) plan with employer matching, an optional Roth 401(k), and a pension plan for employees who work at least 1,000 hours in a calendar year, all designed to help secure your future
• Paid Sick and Safe Leave : For your health and safety.
• Employee Assistance Program (EAP) : Access to support and resources.
• Financial and Banking Services : Various benefits and financial planning assistance.

Applicants must be authorized to work for any employer in the U.S. We are unable to sponsor or assume sponsorship of an employment Visa at this time.

Seniority level

Seniority level

Mid-Senior level

Employment type

Employment type

Full-time

Job function

Job function

Sales and Management

Banking

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