Commercial Workout Officer

FourLeaf Career•Bethpage, NY

5d•Hybrid

About The Position

Responsible for the effective management of distressed complex (CRE) & (C&I) member business loans within a $2B+ national portfolio. Ensures timely remediation of transactions while mitigating losses and maximizing recoveries. Establishes action plans with specific resolutions and promptly conveying recommendations on adjustments for risk rating, loss recognitions/write-offs and accrual status to senior management and loan participants. Uses professional knowledge, experience and analytical criteria to make decisions and acts independently to determine methods and procedures on new assignments.

Requirements

Bachelor's degree in business administration/management (MBA preferred) and formal credit training
10+ years of experience
Experience in commercial lending, commercial loan workouts, and comprehensive understanding of legal remediation
Skills: Commercial Lending, Underwriting, Risk Assessment, Credit Report Analysis & Negotiation

Responsibilities

Effectively manages an assigned portfolio of distressed commercial real estate loans (CRE) and Commercial and Industrial loans (C&I).
Works closely with commercial lending to develop feasible, timely workout strategies, restructuring credit and repayment terms, better securing collateral or establishing recourse to other borrower assets.
Recommends strategies to the Asset Quality Committee (AQC) for approval.
Conducts comprehensive financial analysis including financial spreading, covenant monitoring, identification of risk and mitigants, cost/benefit analysis of remediation options, reassessment of risk rating and loan loss reserve, and consideration of the borrower’s financial ability, intent, willingness, reason for default and ability to make payment.
Manages the enforcement of the credit union’s rights and remedies if negotiated workout plan proves not feasible and/or further default ensues.
Works closely with external counsel, court appointed receivers and others in enforcement proceedings to maximize the recovery of nonperforming assets.
Coordinates and establishes liquidation value of collateral with appraisers and other professionals.
Coordinates with internal accounting department and external legal counsel as necessary to ensure compliance of negotiated workout agreements with established company policies and regulatory agencies (NCUA).
Works closely with participants on all remedial strategies (workout, note sale, foreclosure, etc.).
Generates and manages monthly participant status updates and billing (when applicable).
Coordinates with the accounting department in regards to billing.
Responsible for all commercial real estate delinquency reporting (Watch Asset Report) for the Asset Quality Committee (AQC) and the Board on a quarterly basis.