Senior Credit Workout Officer IV

LE001 Northwest Bank; New York (NY); On-site; USD 115,000 - 135,000; Full time

Job summary

Northwest Bank seeks a Senior Credit Workout Officer IV to assess borrowers, management teams, and business plans to decide on credit retention or exit, while negotiating workout plans with professionals. The role emphasizes thorough review of loan documents and collaboration with loan officers.

The position requires analyzing financial statements, coordinating foreclosures or liquidations, and preparing documentation and quarterly reviews of the loan portfolio, with opportunities for bonus

Qualifications

• Bachelor's degree in business, accounting, finance, or related field.
• 8–12 years of experience in commercial lending including special assets, loan review, credit.
• Strong analytical and decision-making abilities.

Responsibilities

• Ensure loan documentation integrity.
• Review collateral perfection in loan documents.
• Analyze financial statements and debt covenants.
• Identify, resolve, and communicate issues and workout plans.
• Coordinate foreclosures and collateral liquidation.
• Negotiate workout or exit plans with professionals.
• Monitor collections and report payments.
• Prepare reports on loan portfolio.

Skills

Loan documentation

Collateral review

Financial analysis

Negotiation

Communication

Education

Bachelor's degree in business / accounting / finance

Tools

Microsoft Office

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 Degree business / accounting or finance degree or related subject matter

Work Experience

8 - 12 years of 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 player Extensive
• Good organizational skills Extensive
• Ability to analyze data, bankruptcy, foreclosures, and repossession Extensive

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. At Northwest, we're here for what's next. Whether we're finding opportunities for families, businesses and communities or opening doors for our team, we share a passion for helping the people around us succeed. And we know that in order to provide the highest level of care, we need to understand unique experiences and perspectives. That's why, whether you're interested in a corporate role or something customer-facing, your talent and voice matter. Here, you belong. Working at Northwest, you'll find that we recognize our employees for the important work they do through competitive compensation and benefits, professional development opportunities and by regularly celebrating wins along the way. So, take a look at the opportunities here. And join us as we move into the future making a difference for the people we serve.