Credit Bankruptcy Officer
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About The Position
The Credit Bankruptcy Officer is responsible for coordinating, monitoring, and analyzing loans when a borrower files a bankruptcy petition. This role involves ensuring the integrity of loan documentation, reviewing loan documents for perfection of collateral, and analyzing financial statements. The officer will prepare and analyze bankruptcy reports, identify and resolve problems, and record all agreements and conversations. Additionally, the officer will prepare correspondence and documentation, discuss grades and procedures, and submit proof of claims. Attendance at 341 hearings or similar bankruptcy hearings, as well as monitoring collection activity and bankruptcies, is also required. The officer will report agreed payment terms and plans, locate collateral, and inspect it as necessary. Collaboration with loan officers, preparation for litigation, and coordination of the sale of acquired assets with appropriate staff are key responsibilities. The officer will also order appraisals, initiate charge-offs or write-downs, prepare reviews, and provide monthly bankruptcy updates. Recommendations for improvements to procedures, building relationships with internal customers, and maximizing technology tools available are also part of the role. Compliance with Northwest's policies and procedures, as well as Federal and State regulations, is essential. The officer will navigate Microsoft Office Software and other computer applications to gain efficiency and work as part of a team, utilizing on-site equipment.
