Loan Workout Officer

Valley Bank•Fairfield, NJ

About The Position

The Loan Workout Officer will lead the end-to-end management of a portfolio of criticized, classified, and non-performing commercial loans. This role involves developing and executing strategic and legal action plans for each relationship to ensure cost-effective maximum recovery for the bank. The officer will maintain strict oversight of financial performance, covenant compliance, collateral integrity, and borrower operating trends, identifying emerging risks early and taking immediate corrective action to minimize loss exposure. Responsibilities include conducting financial, cash flow, collateral, and global exposure analyses to determine the most effective workout strategy, recommending forbearance structures, repayment strategies, liquidations, or exits. The role requires preparing clear, defensible credit memoranda and recommendations for senior credit authorities, leading negotiations with borrowers, guarantors, and third parties, and establishing performance expectations. The officer will partner closely with internal and external legal counsel on litigation, bankruptcy, foreclosure, receivership, and other enforcement actions, ensuring full adherence to regulatory guidance and maintaining complete, audit-ready files. Additionally, the role involves providing clear direction and subject matter expertise to internal partners and communicating credit deterioration, strategic options, and projected losses with precision and urgency.

Requirements

Strong command of commercial credit, financial statement analysis, and collateral valuation.
Proven experience resolving complex distressed credits and negotiating restructures.
High level of judgment, assertiveness, and decision making ability.
Excellent written and verbal communication skills, especially in high stakes borrower and attorney interactions.
Ability to manage a high volume of criticized relationships while maintaining accuracy, timeliness, and regulatory compliance.
Ability to use basic computer programs such as Word, Excel, Teams, Zoom and Outlook.
The ability to review and understand documents such as notes, guaranties, security agreements and mortgages, and the meaning and significance of provisions and terms contained therein.
Understanding of legal proceedings and terms.
Excellent organizational skills and the ability to handle multiple projects and deadlines.

Nice To Haves

Bachelor's Degree
JD degree or training or experience with legal proceedings such as foreclosures, collections actions and bankruptcies.

Responsibilities

Lead the end to end management of a portfolio of criticized, classified, and non performing commercial loans.
Develop and execute strategic and legal action plans for each relationship, for cost effective maximum recovery for the bank.
Maintain strict oversight of financial performance, covenant compliance, collateral integrity, and borrower‐operating trends.
Identify emerging risks early and take immediate corrective action to minimize loss exposure.
Conduct financial, cash flow, collateral, and global exposure analyses to determine the most effective workout strategy.
Recommend forbearance structures, repayment strategies, liquidations, or exits based on quantitative and qualitative assessments.
Prepare clear, defensible credit memoranda and recommendations for senior credit authorities.
Lead negotiations with borrowers, guarantors, and third parties with a firm, disciplined approach that prioritizes the Bank's recovery and risk position.
Establish performance expectations, enforce compliance timelines, and escalate when borrowers fail to meet requirements.
Build professional but authoritative borrower relationships that drive transparency and accountability.
Partner closely with internal and external legal counsel on litigation, bankruptcy, foreclosure, receivership, and other enforcement actions.
Ensure full adherence to regulatory guidance, including OCC requirements for problem loan oversight, classification accuracy, and documentation integrity.
Maintain complete and audit ready files, action plans, and system records.
Provide clear direction and subject matter expertise to internal partners, including credit risk, operations, valuation teams, and senior management.
Communicate credit deterioration, strategic options, and projected losses with precision and urgency.