Loan Workout Officer

Glacier Bancorp, Inc.•American Fork, UT

1d•Onsite

About The Position

Altabank, Division of Glacier Bank, is looking for a Full-time Loan Workout Officer for our American Fork branch. Role: Manage downgraded lending relationships, mitigate loan loss, negotiate loan payoffs and otherwise working to minimize charge off’s and maximize loan repayment. The Loan Workout Officer (LWO) is responsible for the management of troubled borrower relationships and/or adversely graded loans within the Bank's loan portfolio of diverse size and complexity in compliance with all applicable state and federal laws, rules and regulations and Bank lending policies and procedures. Management of LWO’s portfolio involves regular direct interactions and negotiation with borrowers, legal counsel, as well as working closely with Bank loan officers and other team members to ensure the Bank’s interests are properly preserved. This includes, but is not limited to, taking appropriate measures to mitigate the risk of loan loss, preserving collateral and/or lien rights, and confirming documentation of loan restructure. The LWO is also responsible for recommending, documenting, implementing, and reporting on loan collection and litigation plans approved by the Bank’s senior management.

Requirements

Five to ten years of similar or related experience.
A college degree or equivalent combination of education and experience.
Bachelor’s degree in related field, preferably Accounting or Finance, or the equivalent combination of experience and education.
Familiar with loan documentation, closing documentation, title reports, appraisals and supporting underwriting criteria.
Five or more years of related collections / work out experience, such as experience in managing and disposing of business, income property, residential, and consumer repossessed assets of all types.
Working knowledge of consumer, commercial, and commercial real estate lending compliance/regulatory requirements
Excellent interpersonal and communication skills.
Excellent organizational skills, with the ability to multi-task efficiently.
Excellent attention to detail.
Proven ability to problem solve and handle a wide range of decision making.
Excellent analytical and organizational skills and be able to work independently and as a team with little supervision.
Ability to write clearly and effectively.
Employee must be capable of interacting calmly and professionally with a variety of people from diverse backgrounds at various levels within and outside of the organization.
Employee must be capable of regular, reliable, and timely attendance.
Ability to adapt to change (e.g. shifting priorities, demands, and timelines) through time management, analytical, and problem-solving skills.

Responsibilities

Implement strategies for legal action through Bank Counsel after consultation with SAD Committee, and/or the Chief Credit Officer (CCO).
Develop, recommend, and execute work out strategies for a variety of commercial loan types as assigned and meet with or call upon customers for collection and, when necessary, to negotiate work out terms.
Monitor and report to Management the status of the assigned loans. Such reporting includes but is not limited to Problem Loan Reports (PLRs), past due loan reports, risk rating recommendations, and assessing loan loss potential.
Manage loan work out negotiations with bank counsel and borrowers and make necessary judgments to protect the bank's interest and achieve maximum recovery.
Prepare and present request for approvals for loan modifications, restructures, forbearance agreements and/or settlement agreements to Management.
Monitor collateral condition through inspections as needed
Review and assess potential impact of borrower bankruptcy filings; ensures protection of bank's position as a creditor.
Manage quarterly reporting for Special Assets Department (SAD) committee meeting including preparing Problem Loan Reports (PLRs), reviewing PLRs completed by other loan officers, and finalizing and compiling the final PLRs into a report for Division and Corporate management.
Manage all aspects of troubled loan relationships including risk rating downgrades, charge off’s, non-accrual status changes and monitor monthly payment performance for non-performing loans through regular contact with borrowers.
Send demand letters and other communications on delinquent loans and loans out of compliance with loan covenants.
Work with outside legal counsel on litigation against borrowers that are in default to obtain repayment of delinquent loans via foreclosure and other collection efforts.
Responsible for the collection and sale of collateral and to ensure funds are applied to the loan.
Complete appropriate corporate forms and certifications around OREO / OPPA property, Bankruptcy tracking, BK and Charge Off coding in Silverlake, and delinquency property tax tracking.
Work with borrowers to obtain continued repayment of loans with modified terms via loan forbearance agreements.
Inspect collateral on delinquent loans, order appraisals and environmental reports in accordance with loan policy.
Must comply with applicable laws and regulations, including but not limited to, the Bank Secrecy Act, the Patriot Act, and the Office of Foreign Assets Control.
Complete required bank training courses within assigned time frame(s). It is the individual learner responsibility to ensure that they understand the information given to them in each training. If the learner does not understand the information given they need to reach out to their supervisor for further clarification or additional training.
Adhere to Altabank Core Values.
Keeps management appropriately informed of area activities and of any significant problems.
Participate in Community Service and Bank sponsored activities that serve and support the mission and values of the Altabank.
Provide superior internal and external customer service: must demonstrate self-governance, courtesy and respect toward external customers as well as internal customers (all organization personnel).
Represent Altabank in a professional manner which includes a professional image, confidentiality, a positive “can-do” attitude, good attendance, punctuality, flexibility and adaptability in meeting bank and customer needs. Keep work area tidy and maintain customer privacy. Attends and participates in meetings as required.
Regular and predictable attendance in order to accomplish, among other things, in-person contact with customers.
Duties can change.