Commercial Loan Workout Officer - UT, CO, NV, TX, AZ

Zions Bank • Salt Lake City, UT

135d • $80,000 - $115,000

About The Position

Zions Bancorporation is currently hiring an experienced Commercial Loan Workout Officer to join the team! The Special Assets Group (SAG) was formed to help the Bank achieve its goal of proactive problem credit management. This is achieved by developing win/win solutions for borrowers experiencing financial difficulty while limiting exposure by utilizing best practices in the workout arena through team-work, continuing education, mentoring, skill sharing and peer support. SAG strives to develop robust partnerships between lenders and workout officers to identify loss risk and take appropriate action before issues become problems and eventually losses. SAG's mission is to rehabilitate rather than to liquidate. Work within the group primarily involves loss mitigation, foreclosure, bankruptcy, loan workout and loss recovery functions by determining the best course for the borrower to repay their debt obligation to the bank by following prudent credit and underwriting standards that are designed to control and limit risk and loss. Modifications are reviewed very carefully to insure mortgage servicing rule requirements are followed. When loss mitigation alternatives are not successful foreclosure remedies are pursued.

Requirements

• Basic knowledge of consumer lending, lending law, bankruptcy law and cash flow analysis.
• Working knowledge of collection processes and practices.
• Excellent interpersonal and communication skills, both oral and written required.
• Strong analyses, negotiation and problem resolution skills.
• Strong word processing and computer based skills.
• Requires a Bachelors in Finance, Business, Accounting or related field.
• 2-4+ years consumer collections/workout, lending laws, credit analysis, lending or other directly related experience.
• A combination of education and experience may meet qualifications.

Responsibilities

• Responsible for the workout of adversely graded loans through the restructuring of debt, negotiation of settlement agreements, pursuit of appropriate legal action and/or the liquidation of collateral.
• Secures collateral, equity, or assets of the borrower to preserve the loan principal, prevents the loan from being placed on non-accrual and prevents or limits losses.
• Liquidates real estate or other assets as necessary.
• Reviews lender liability issues to avoid lawsuits and keep legal expenses under control.
• Develops good working relationships with internal and external industry contacts.
• Maintains knowledge of laws, regulations, internal policies and procedures appropriate to the position.
• May provide assistance to less experienced Workout Officers.
• Provides periodic reporting to both Regional and Corporate management concerning portfolio status, loss potential and future trend analysis.
• Other duties as assigned.

Benefits

• Medical, Dental and Vision Insurance - START DAY ONE!
• Life and Disability Insurance, Paid Parental Leave and Adoption Assistance.
• Health Savings (HSA), Flexible Spending (FSA) and dependent care accounts.
• Paid Training, Paid Time Off (PTO) and 11 Paid Federal Holidays.
• 401(k) plan with company match, Profit Sharing, competitive compensation in line with work experience.
• Mental health benefits including coaching and therapy sessions.
• Tuition Reimbursement for qualifying employees.
• Employee Ambassador preferred banking products.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Industry: Management of Companies and Enterprises
• Education Level: Bachelor's degree