Senior Asset Recovery & Workout Officer

Beacon Bank; Boston (MA); Hybrid; USD 115,297 - 212,491; Full time

Job summary

Beacon Bank seeks an Exempt/Officer/SVP to lead workout strategies for high-risk commercial lending relationships. The role reports to the Director of Managed Assets and collaborates with executive management to minimize losses and maximize recoveries.

Requirements include 10+ years in commercial lending/workouts, a Bachelor’s degree, and strong credit analysis, negotiation, and communication skills. Hybrid work location: Boston, MA or Providence, RI.

Qualifications

• Bachelor’s degree required.
• Relevant industry related credit training and fluency in customary CRE, C&I, and SBA structures and products.
• 10+ years of commercial lending/workout experience.
• Proficiency in MS Word/Excel.
• Ability to interpret financial statements and/or tax returns.

Responsibilities

• Act as the primary loan officer for a problem loan portfolio and manage daily overdrafts.
• Analyze and prepare written approval memorandums for waivers, amendments, restructurings, and forbearance.
• Coordinate with counsel to ensure properly documented negotiated arrangements.
• Communicate with borrowers and provide status memos to senior management.
• Monitor borrower performance and adjust risk ratings as needed.
• Prepare monthly/quarterly management reports on Commercial loans and Credit Risk forms.

Skills

Credit analysis

Financial statement interpretation

Negotiation

Communication

Analytical skills

Education

Bachelor's degree

Credit training (CRE/SBA)

Tools

MS Word/Excel

Job description

Beacon Bank seeks an Exempt/Officer/SVP to lead workout strategies for high-risk commercial lending relationships. The role reports to the Director of Managed Assets and collaborates with executive management to minimize losses and maximize recoveries.

Requirements include 10+ years in commercial lending/workouts, a Bachelor’s degree, and strong credit analysis, negotiation, and communication skills. Hybrid work location: Boston, MA or Providence, RI.