Senior Credit Workout Officer IV

Northwest Bank; Warren (Warren County); On-site; USD 90,000 - 150,000; Full time

Job summary

Northwest Bank is seeking a Senior Credit Workout Officer IV to lead workout negotiations and assessment of borrower management and business plans. You will decide whether to retain or exit credit and negotiate workout plans with professionals, while ensuring documentation integrity and compliance.

Ideal candidates have extensive experience in commercial lending, strong analytical and communication skills, and the ability to work with minimal supervision to coordinate with loan officers, staff,

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 effective working relationships and solve problems as a team.
• Strong communication skills, both oral and written.
• Ability to work independently and make sound judgments.
• Proficiency with Microsoft Office and department-specific software.

Responsibilities

• Meet with borrowers and evaluate management teams and business plans to determine retention or exit of credit.
• Analyze financial statements and collateral to assess risk.
• Prepare documentation for workout or exit plans and discuss credit grades.
• Coordinate foreclosures, liquidation, and negotiations with professionals.
• Monitor loan portfolio and report on agreed payment terms and plans.

Skills

Analytical skills

Communication

Problem solving

Team player

Organizational skills

Independent judgment

Education

Bachelor's degree in business/accounting/finance

Tools

Microsoft Office

Job description

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 player
• Good organizational skills
• Ability to analyze data, bankruptcy, foreclosures, and repossession

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