Commercial Loan Workout Specialist

OceanFirst Bank; New York (NY); On-site; USD 110,000 - 150,000; Full time

Benefits offered by this job

Employee perks & discount programs

Tuition assistance

Incentive compensation program

Professional development opportunities

Job summary

OceanFirst Bank is seeking a Commercial Loan Workout Officer in New York to manage problem commercial, commercial real estate, and multifamily credits within the Special Assets portfolio. You will develop and execute workout strategies, assess risk, and prepare analyses for senior leadership.

You will partner with lending, credit, legal, borrowers, and other stakeholders to support effective problem loan resolution while ensuring policy compliance and sound decision-making.

Qualifications

• Strong knowledge of commercial lending and workout processes.
• Experience with credit underwriting and risk assessment.
• Familiarity with banking regulations and policy.
• Ability to analyze borrower financial statements and covenant compliance.

Responsibilities

• Manage assigned commercial, commercial real estate, and classified multifamily credits within the Special Assets portfolio, applying sound workout practices.
• Support the development and execution of workout, restructure, and recovery strategies considering risk, collateral, and policy.
• Analyze borrower performance, repayment capacity, collateral value, and credit trends to identify risk and recommend actions.
• Prepare credit materials for review by senior credit authorities and document outcomes.
• Communicate and negotiate with borrowers, guarantors, attorneys, and lenders to resolve troubled credits while maintaining controls.
• Review loan documents, amendments, restructures, and forbearance agreements for accuracy and policy alignment.
• Monitor performance, covenants, deadlines, and action plans to ensure timely follow-up.
• Provide updates for Credit Quality meetings including status, recovery expectations, and reserve needs.
• Build relationships with lending teams, credit, legal, and third parties to support timely resolutions.

Skills

Commercial lending

Credit analysis

Financial statement analysis

Debt covenants

Negotiation

Risk management

Loan documentation

Microsoft Office

Tools

Microsoft Office

Job description

OceanFirst Bank is seeking a Commercial Loan Workout Officer in New York to manage problem commercial, commercial real estate, and multifamily credits within the Special Assets portfolio. You will develop and execute workout strategies, assess risk, and prepare analyses for senior leadership.

You will partner with lending, credit, legal, borrowers, and other stakeholders to support effective problem loan resolution while ensuring policy compliance and sound decision-making.