AVP Loan Workout Officer & Portfolio Manager

Spencer Savings Bank; Elmwood Park (NJ); On-site; USD 90,000 - 120,000; Full time

Job summary

Spencer Savings Bank in Elmwood Park, NJ, is seeking a experienced Loan Workout Officer for a hybrid role handling distressed loan portfolios and portfolio management. You will review troubled loans, negotiate restructurings, and present recovery strategies to senior management and the Credit Committee.

You will collaborate with legal teams to ensure regulatory compliance, develop recovery plans, and monitor progress of restructured assets, including CRE loans, with an emphasis on risk

Qualifications

• Bachelor’s degree in finance, Business Administration, or related field.
• Experience in workout of loans or financial rehabilitation.
• Minimum 5+ years in a similar role.
• Strong negotiation and problem-solving skills.
• Knowledge of regulatory requirements related to loan recovery.
• Excellent communication and interpersonal skills.
• Proficiency in financial analysis and reporting tools.
• Advanced understanding of loan documentation and credit analysis.
• Ability to manage multiple projects and deadlines.
• Strong understanding of loan structures and credit risk.

Responsibilities

• Review troubled loan portfolios to identify recovery strategies.
• Negotiate loan terms for restructurings and workout plans.
• Prepare reports on loan statuses for management and Credit Committee.
• Collaborate with legal teams to ensure regulatory compliance during workouts.
• Develop and implement recovery plans aligned with financial objectives.
• Monitor restructured loans for adherence to new terms.
• Order appraisals, flood searches, and credit reports.

Skills

Negotiation

Communication

Financial analysis

Credit analysis

Project management

Attention to detail

Independent decision making

Regulatory knowledge

Education

Bachelor’s degree in finance or related field

Job description

This is a hybrid position with experience in both Loan Workout and Portfolio Management. A Loan Workout Officer is a critical player in the banking and financial sectors, dedicated to managing distressed loan portfolios and developing strategies for loan recovery and restructuring.

MAJOR RESPONSIBILITIES

• Review and analyze troubled loan portfolios to identify potential recovery strategies.
• Negotiate loan terms with borrowers to facilitate loan restructuring and workout plans.
• Prepare and present detailed reports on loan statuses and proposed recovery actions to senior management and Credit Committee.
• Collaborate with legal teams to ensure compliance with all regulatory requirements during loan workouts.
• Develop and implement recovery plans that align with the organization’s financial objectives.
• Monitor and track the progress of restructured loans to ensure adherence to new terms.
• Engage with external consultants and advisors to enhance recovery strategies.
• Conduct site visits and meetings with borrowers to assess their financial situations.
• Evaluate collateral and make recommendations on asset liquidation as necessary.
• Account management responsibility for any CRE Criticized / Classified or Pass rated loans.
• Provide ongoing credit oversight and portfolio management of the CRE loan portfolio through annual reviews, monitoring of covenant compliance and the creation and maintenance of “Watch List” credits.
• Analyze income producing properties and/or business financial statements/ tax return and identify financial ratios and trends.
• Ensure annual review and covenant compliance are completed.
• Work with the SVP / Director of Portfolio Management in all matters related to the management of troubled CRE assets.
• Manage portfolio risk on a forward and proactive basis with respect to economic and industry trends, borrower concentrations, industry concentrations, likelihood of default and loss and criticized and classified loan migration.
• Ensures all responsibilities are carried out in accordance with applicable federal, state, and local laws, regulations, and organizational policies, maintaining the highest standards of ethical and legal compliance.
• Order appraisals, flood searches, and credit reports.

JOB REQUIREMENTS

Education:

College Degree

Experience:

• Bachelor’s degree in finance, Business Administration, or a related field.
• Experience in workout of loans or financial rehabilitation.
• Strong negotiation and problem-solving skills.
• Knowledge of regulatory requirements related to loan recovery.
• Excellent communication and interpersonal skills.
• Proficiency in financial analysis and reporting tools.
• Advanced understanding of loan documentation and credit analysis.
• Ability to manage multiple projects and deadlines effectively.
• Minimum 5+ years of experience in a similar role.
• Strong understanding of loan structures and credit risk.
• Ability to analyze financial statements and borrower profiles.
• Proficiency in spreadsheet and financial software applications.
• Excellent organizational skills and attention to detail.
• Effective communication skills, both written and verbal.
• Ability to work independently and make informed decisions.