Commercial Loan Workout Officer

Centier Bank • Merrillville, IN

2d • Hybrid

About The Position

As a member of the Credit Risk Management team within the Credit Administration Division, the Commercial Loan Workout Officer manages an assigned portfolio of substandard, special mention, watch, and pass-rated commercial loan accounts and other real estate owned (ORE). The role manages distressed loans or relationships up to $1,000,000 and performing loans or relationships up to $1,500,000. It involves developing, negotiating, and documenting loan renewals and modifications, forbearance agreements, and legal strategies in collaboration with bank counsel. Performance is measured by reductions in distressed loans, credit risk, and credit losses, as well as recoveries achieved. The officer also assists senior commercial workout officers and completes assigned credit risk reviews.

The position collaborates with Credit Risk Management staff and works directly with borrowers, lenders, operations and documentation staff, credit analysts, attorneys, property managers, and real estate brokers. The role requires completing and maintaining customary and otherwise necessary due diligence in accordance with bank policies and guidelines. Some primarily local travel is required, with occasional regional travel possible. Hybrid work potential is available.

Requirements

• 2 to 3 years of prior commercial workout experience, or a combination of experience in commercial lending, credit underwriting, portfolio management, financial analysis, documentation, examination, audit, compliance, and SBA.
• Proven experience in collateral analysis.
• Commercial loan documentation experience.
• Effective organizational, time management, multitasking, and problem-solving skills.
• Excellent written and verbal communication skills.

Nice To Haves

• Bachelor’s degree with a concentration in business, finance, or accounting preferred; other bachelor’s degree concentrations may be considered in relation to experience, responsibilities, continuing education, and certifications.
• Associate degrees with progress toward a bachelor’s degree may be considered similarly.
• Experience in roles such as commercial loan portfolio manager, commercial credit analyst, commercial small business lender, SBA lender, commercial loan reviewer, or commercial loan administrator is encouraged.

Responsibilities

• Manage an assigned portfolio of substandard, special mention, watch, and pass-rated commercial loan accounts and ORE.
• Manage distressed loans or relationships up to $1,000,000 and performing loans or relationships up to $1,500,000.
• Develop, negotiate, and document loan renewal and modification agreements, forbearance agreements, and legal strategies in collaboration with bank counsel.
• Work to reduce distressed loans, credit risk, and credit losses, and achieve recoveries.
• Assist senior commercial workout officers and complete credit risk reviews as assigned.
• Collaborate with Credit Risk Management staff and work directly with borrowers, lenders, operations staff, documentation staff, credit analysts, attorneys, property managers, and real estate brokers.
• Complete and maintain customary and additionally determined necessary due diligence in compliance with bank policies and guidelines.
• Travel primarily locally, with occasional regional travel possible.

Benefits

• Access to Marathon Health Clinics with free visits and prescriptions
• Generous paid time off
• Tuition reimbursement
• 401(k) match
• Associate Stock Ownership Plan
• Daycare reimbursement
• Free onsite fitness center and fitness reimbursements
• Health and wellness programs
• Diversity/Equity/Inclusion Council participation
• Career growth
• Work/life balance
• Continued education support
• Opportunities for growth and advancement within Credit Risk Management and Credit Administration, and career paths among commercial lending, credit risk management, audit, and compliance

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level