Senior Commercial Loan Workout Lead

OceanFirst Bank; New York (NY); On-site; USD 120,000 - 190,000; Full time

Benefits offered by this job

Tuition assistance

Incentive compensation

Professional development

Employee perks & discount programs

Job summary

OceanFirst Bank seeks a Senior Commercial Loan Workout Officer to oversee and resolve its most complex credits within the Special Assets portfolio across the Bank's footprint. The role requires advanced workout, restructure, and recovery strategies to mitigate risk and maximize recovery outcomes.

You will guide portfolio management staff, collaborate with lending, legal, borrowers, and stakeholders, and support sound decision-making and policy application throughout complex cases.

Qualifications

• Extensive knowledge of commercial lending and workout processes.
• Familiar with banking regulations, credit approvals, and loan documentation.
• Ability to lead negotiations and manage a team of workout staff.
• Strong communication and analytical skills for complex credit analyses.

Responsibilities

• Manage the Bank's most complex commercial, commercial real estate, and multifamily credits within the Special Assets portfolio, preserving value and optimizing recovery.
• Lead a team of workout officers, collectors, and analysts to track and maximize recovery outcomes.
• Develop and implement workout, restructure, and recovery strategies balancing risk, collateral, and regulatory requirements.
• Provide guidance to portfolio management staff and internal stakeholders on complex credit situations and policy application.
• Lead negotiations with borrowers, guarantors, attorneys, and lenders to resolve troubled credits while protecting collateral.

Job description

OceanFirst Bank seeks a Senior Commercial Loan Workout Officer to oversee and resolve its most complex credits within the Special Assets portfolio across the Bank's footprint. The role requires advanced workout, restructure, and recovery strategies to mitigate risk and maximize recovery outcomes.

You will guide portfolio management staff, collaborate with lending, legal, borrowers, and stakeholders, and support sound decision-making and policy application throughout complex cases.