Commercial Loan Workout Officer

Centier Bank • Merrillville, IN

17h • Hybrid

About The Position

As a member of the Credit Risk Management team within the Credit Administration Division, the Commercial Loan Workout Officer manages assigned substandard, special mention, watch, and pass-rated commercial loan accounts, as well as other real estate owned (ORE). The portfolio may include distressed loans or relationships up to $1,000,000 and performing loans or relationships up to $1,500,000. The officer develops, negotiates, and documents loan renewals and modifications, forbearance agreements, and legal strategies in collaboration with bank counsel. Success is measured by reductions in distressed loans and credit risk, reduced credit losses, and achieved recoveries. The role also assists senior commercial workout officers and completes assigned credit risk reviews, while working closely with Credit Risk Management staff and a broad range of internal and external partners. Customary and other required due diligence must be completed and maintained in accordance with bank policies and guidelines. Some primarily local travel is required, with occasional regional travel. Hybrid work potential is available.

Requirements

• Effective organizational, time-management, multitasking, and problem-solving skills.
• Excellent written and verbal communication skills.
• Proven experience in collateral analysis.
• Commercial loan documentation experience.
• Two to three 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.

Nice To Haves

• A bachelor’s degree with a concentration in business, finance, or accounting is 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 alongside relevant experience and qualifications.
• 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 a portfolio of assigned 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 toward reductions in 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 required due diligence in compliance with bank policies and guidelines.
• Travel primarily locally, with occasional regional travel as needed.

Benefits

• Free visits and prescriptions through Marathon Health Clinics.
• 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.
• Opportunity to participate in the Diversity/Equity/Inclusion Council.
• Career growth opportunities.
• Work/life balance.
• Continued education support.
• Opportunities for growth and advancement within Credit Risk Management and Credit Administration, with career pathing among commercial lending, credit risk management, audit, and compliance.

What This Job Offers

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