Loan Workout Officer

Teachers Federal Credit Union • Hauppauge, NY

38d • $32 - $39

About The Position

Restructures loans and works with Business Lending Management and borrowers to secure collateral and/or assets of the borrower. Works with small- and mid-size loans of little to medium complexity.

Requirements

• Bachelor's degree or minimum of six years relevant industry experience required
• Minimum one to three years' experience as a Credit Officer, Loan Workout/Mitigation Officer, or other related field required
• Local travel 10% of the time required
• Able to read credit reports and financial statements preferred
• MS Office
• Strong communication, interpersonal, and organizational skills required
• Debt Restructuring | Loss Mitigation | Negotiation | Banking Software | Loan Software
• Ability to analyze risk for small and large businesses
• Strong credit and analytical skills

Nice To Haves

• Able to read credit reports and financial statements preferred

Responsibilities

• Responsible for monitoring a Commercial Loan portfolio and identifying changes in risk by analyzing the creditworthiness of borrower's financial condition
• Assign risk rating to loans
• Perform annual reviews of Commercial Real Estate (CRE) borrowers in a quantitative and qualitative manner
• Develop workout strategies and action plans to mitigate risk in the commercial loan portfolio
• Evaluate member business loans for covenant violations to identify level of risk and/or concern about asset quality
• Analyze financial data and provide required reporting
• Work cross functionally on matters including escrow, delinquent property taxes, late payments and building violations
• Work directly with borrowers, lenders, operations staff, documentation staff, credit analysts, attorneys, property managers, and real estate brokers
• Communicate with borrower and at times visit borrower's property when problems arise and/or a property inspection is warranted
• Perform evaluation of borrowers' CRE collateral and recommend if collection activities need to be escalated to a TDR, loan modification or foreclosure
• Performs other duties as needed upon request by immediate supervisor

Benefits

• Paid time off for vacation, personal days, and holidays
• Fully-funded pension plan
• 401(k) company contribution
• Teachers pays 100% of Dental & Vision premium
• Tuition reimbursement is offered to full-time employees
• Exclusive employee discount of 0.96% APR on credit card loans and a 1.00% APR on all other loans through Teachers

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Industry: Credit Intermediation and Related Activities
• Number of Employees: 501-1,000 employees