Senior Credit Workout Officer IV

Northwest Bank; Buffalo (NY); On-site; USD 115,000 - 135,000; Full time

Job summary

Northwest Bank in New York seeks a Senior Credit Workout Officer IV to meet with borrowers, evaluate management teams and business plans, and decide whether to retain or exit credit while negotiating workout plans.

You will analyze loan documents, monitor collections, coordinate foreclosures, prepare workout/exit documentation, and collaborate with loan officers to optimize loss mitigation and portfolio performance. Requires 8–12 years in commercial lending and a Bachelor’s in business/finance.

Qualifications

• Bachelor's degree in business, accounting, or finance.
• 8–12 years of experience in commercial lending, including special assets, loan review, credit, or lending.
• Ability to establish relationships, communicate clearly, listen actively, plan and analyze data, and exercise judgment in gray areas.

Responsibilities

• Meet with borrowers to evaluate management teams and business plans and decide whether to retain or exit credit.
• Negotiate workout or exit plans with professionals and establish terms.
• Review loan documentation, ensure collateral perfection, and monitor collections and foreclosures.
• Prepare workout/exit documentation and reports; coordinate with loan officers and staff.

Skills

Teamwork

Communication

Active listening

Planning

Judgment

Education

Bachelor's degree in business / accounting or finance

Job description

IN0534 Fishers, NY0705 NY Region Business Office, OH0523 Independence Bus Office, OH0713 NW Bancshares HQ, PA0258 Bellevue, PA0736 Administration Center

Job Description

The Senior Credit Workout Officer IV is responsible for a variety of duties including meeting with borrowers and evaluating management teams and business plans to determine whether or not to retain or exit credit, while negotiating with professionals to establish a workout or exit plan.

Essential Functions

• Ensure integrity of loan documentation
• Review loan documents to confirm perfection of collateral
• Analyze financial statements
• Identify and resolve problems / issues
• Record all agreements and conversations
• Prepare correspondence and documentation for workout/exit plan
• Discuss credit grades and workout procedures
• Issue demand letters
• Monitor collection activity and bankruptcies
• Obtain judgments
• Establish workout or exit plans
• Report agreed payment terms and plans
• Locate and inspect collateral
• Coordinate foreclosures
• Partner with loan officers
• Prepare for litigation
• Coordinate liquidation and sale of assets with appropriate staff and counsel
• Order appraisals
• Initiate charge offs and write downs
• Negotiate with professionals to establish a workout or exit plan
• Interact with other financial institutions and examiners
• Recommend the best loss mitigation strategy
• Work with minimal direct supervision and use independent judgment and decision making
• Prepare reviews and quarterly reports on loan portfolio
• Recommend improvements to workout policies and procedures
• Build relationships with internal customers
• Maximize available technology tools
• Minimize departmental costs

Additional Essential Functions

• Ensure compliance with Northwest's policies and procedures, and Federal/State regulations
• Navigate Microsoft Office Software, computer applications, and software specific to the department in order to maximize technology tools and gain efficiency
• Work as part of a team
• Work with on-site equipment

Safety and Health for those without supervisory duties

• Abide by the rules of the safety and loss prevention program
• Perform work tasks in a safe manner
• Report any and all injuries to supervisor
• Know what to do in case of an emergency

QUALIFICATIONS

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Education

Bachelor's Degreebusiness / accounting or finance degree or related subject matter

Work Experience

8 - 12 yearsof experience in an area related to commercial lending including special assets, loan review, credit and / or lending

General Employee Knowledge, Skills, and Abilities

• Ability to establish effective working relationships among team members and participate in solving problems and making decisions
• Ability to present and express ideas and information clearly and concisely in a manner appropriate to the audience, whether oral or written
• Ability to actively listen to what others are saying to achieve understanding, sharing information with others and facilitating the open exchange of ideas and information
• Ability to establish courses of action for self to accomplish specific goals, develop and use tracking systems for monitoring own work progress, and effectively use resources such as time and information
• Ability to make right decisions based on perceptive and analytical processes, practicing good judgment in gray areas

Additional Knowledge, Skills and Abilities

• Team playerExtensive
• Good organizational skillsExtensive
• Ability to analyze data, bankruptcy, foreclosures, and repossessionExtensive

The pay range for this position is generally $115,000-$135,000 per year. Actual pay is based on various factors including but not limited to the successful candidate's experience, skills, and knowledge. Additional bonus earning opportunities and benefits are also available.

Northwest is an equal opportunity employer. We are committed to creating an inclusive environment for all employees.