Commercial Loan Workout Officer

EastRise Federal Credit Union • Williston, VT

11d

About The Position

The Commercial Loan Workout Officer is responsible for managing a portfolio of criticized, distressed, or otherwise
troubled commercial loans. This role focuses on minimizing credit losses, maximizing recoveries, and restructuring
loans when appropriate. The officer works closely with relationship managers, credit risk teams, legal counsel, and
leadership to develop and execute strategies that protect the credit union's interests while supporting borrower
viability when possible.

Requirements

• 5-10+ years of commercial lending, credit analysis, or special assets/workout experience. Proven experience handling distressed commercial credits, restructures, and legal recovery actions.
• Bachelor's degree in finance, accounting, business, or related field (MBA or formal credit training preferred). A college degree.
• The ability to motivate or influence internal or external senior level professionals is a critical part of the job, requiring a significant level of influence and trust. Obtaining cooperation and agreement on important outcomes via frequently complex, senior level dialogues, as well as a professional level of written communication skills are essential to the position.

Nice To Haves

• MBA or formal credit training

Responsibilities

• Portfolio Management & Risk Mitigation - Manage a portfolio of distressed commercial loans across multiple asset types; analyze borrower financials, collateral, cash flow, and repayment capacity; develop and execute workout strategies (restructuring, forbearance, liquidation, or legal action); recommend loan grading changes and impairment assessments; and conduct ongoing portfolio reviews with recovery forecasting.
• Borrower Engagement & Negotiation - Lead borrower discussions to assess financial challenges, negotiate loan modifications, settlements, and repayment plans, and balance relationship management with enforcement of the credit union's rights and remedies in accordance with policy and regulatory guidance.
• Credit Analysis & Documentation - Perform underwriting for modified or restructured loans; prepare comprehensive credit memoranda documenting risk assessment, recommended actions, and recovery strategies; and coordinate with internal counsel and external legal resources on foreclosure, bankruptcy, receivership, or litigation matters.
• Cross‑Functional Collaboration - Partner with Credit Administration, Loan Operations, Risk Management, and Commercial Lenders to ensure coordinated workout execution; provide guidance on early warning indicators and workout best practices; and participate in committee meetings and regulatory examinations.
• Reporting & Compliance - Maintain accurate records of borrower communications and recovery actions; monitor and report criticized assets, impairments, charge‑offs, and reserves; and ensure adherence to CECL, NCUA, state regulatory requirements, and internal credit policies.

What This Job Offers

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