Senior Credit Workout & Special Assets Lead

Northwest Bank; Columbus (OH); On-site; USD 90,000 - 120,000; Full time

Job summary

Northwest Bank in Columbus, OH seeks a Credit Workout Officer III to recommend loss mitigation strategies and improve Special Assets processes. You will meet with borrowers, evaluate management teams, and review business plans to decide whether to retain or exit credit.

Responsibilities include preparing loan recaps, analyzing financial statements, conducting annual reviews, determining loan structures, coordinating workouts and foreclosures, and ensuring compliance with bank regulations.

Qualifications

• Bachelor's Degree or related subject matter.
• 5 - 6 years of experience in commercial lending including special assets, loan review, credit administration and/or lending.
• Ability to establish effective working relationships among team members and participate in solving problems and making decisions.

Responsibilities

• Prepare the appropriate loan recaps.
• Spread, review and analyze financial statements for new loans, maturity extensions, restructures and renewals.
• Conduct annual reviews and assign risk rating.
• Recommend proper loan structure.
• Identify credit strengths, weaknesses and mitigating factors.
• Assist in determining the appropriate level of underwriting and due diligence for the credit’s risk profile, and workout staff participating in joint calls as needed.
• Maintain a work knowledge of macro-economic issues in local markets.
• Engage counsel when appropriate on behalf of Northwest.
• Discuss grades and workout procedures.
• Issue demands letters.
• Monitor collection activity, and bankruptcies.
• Obtain judgments.
• Establish Workout plans on behalf of Northwest.
• Report agreed payment terms and plans.
• Locate collateral/inspection.
• Partner with loan officers.
• Coordinate sale of acquired assets / with appropriate staff, liquidation of assets and sales, legal plan action with counsel, and foreclosures.
• Order appraisals.
• Initiate Charge-offs / write downs.
• Work with minimal direct supervision and requires the use of independent judgment and decision making.
• Maximize technology tools available.
• Prepare management reports as required, and for litigation.
• Responsible for all compliance and audit-related matters in area of responsibility.
• Participate in special projects as required.
• Remain current on all bank rules and regulations relating to Credit Administration.
• Coordinate foreclosures.
• Recommend improvements to procedures.
• Build relationships with internal customers.
• Maximize technology tools available.
• Minimize departmental non-payroll costs.
• Monitor, develop and suggest revisions to workflows and procedures as necessary to enhance efficiency and minimize expenses.
• Familiarity with SBA SOP.
• Managing workout process for SBA 7 & 504 Loans
• Participate in quarterly SAG Watch Calls and Preparation of Crit Forms.

Skills

Financial analysis

Team player

Communication

Attention to detail

Education

Bachelor's Degree

Tools

MS Office

Job description

Northwest Bank in Columbus, OH seeks a Credit Workout Officer III to recommend loss mitigation strategies and improve Special Assets processes. You will meet with borrowers, evaluate management teams, and review business plans to decide whether to retain or exit credit.

Responsibilities include preparing loan recaps, analyzing financial statements, conducting annual reviews, determining loan structures, coordinating workouts and foreclosures, and ensuring compliance with bank regulations.