Loan Workout Officer - Midvale, UT (In Office)

Zions Bancorporation•Midvale, UT

5d•Onsite

About The Position

Zions Bancorporation is seeking a Loan Workout Officer to join their team in Midvale, UT. This is an in-office position where the candidate will be responsible for collecting and resolving problems on troubled loans, securing collateral, equity, or assets of the borrower to preserve loan principal, gather interest, and prevent losses. The role involves restructuring debt, negotiating settlement agreements, pursuing legal action, and liquidating assets as necessary. The officer will also review lender liability issues, maintain knowledge of relevant laws and policies, and potentially assist less experienced officers. The company values its employees and is committed to creating fulfilling opportunities, rewarding contributions, and maintaining strong community ties.

Requirements

Requires a Bachelors in Finance, Business, Accounting or related field and 2+ years consumer/mortgage loans, lending laws, credit analysis, credit monitoring, loan workouts, lending or other directly related experience.
A combination of education and experience may meet qualifications.
Working knowledge of consumer/mortgage lending, lending law, bankruptcy law and cash flow analysis.
Working knowledge of collection processes and practices.
Solid interpersonal and communication skills, both oral and written required.
Solid analytical, negotiation and problem resolution skills.
Ability to work individually and as part of a team.
Ability to identify, research, coordinate and resolve issues.
Must be organized, detail-oriented and able to multi-task.
Strong computer skills (Excel, Word, PowerPoint).

Nice To Haves

Knowledge of Risk Grading and accrual accounting a plus.

Responsibilities

Collects and resolves problems on troubled loans.
Secures collateral, equity or assets of the borrower to preserve the loan principal, gathers interest and prevents the loan from being placed on non-accrual and prevents or limits losses.
Responsible for the workout of adversely graded loans through the restructuring of debt, negotiation of settlement agreements, pursuit of appropriate legal action and/or the liquidation of collateral.
Liquidates real estate or other assets as necessary and/or manages properties or other assets owned by bank.
Reviews lender liability issues to avoid lawsuits and keep legal expenses under control.
Develops good working relationships with internal and external industry contacts.
Maintains knowledge of laws, regulations, internal policies and procedures appropriate to the position.
May provide assistance to less experienced Workout Officers.
Other duties as assigned.

Benefits

Benefits starting on day one
Bank holidays
Profit sharing
Company-matched 401(k) contributions
Medical, Dental and Vision Insurance - START DAY ONE!
Life and Disability Insurance
Paid Parental Leave and Adoption Assistance
Health Savings (HSA), Flexible Spending (FSA) and dependent care accounts
Paid Training
Paid Time Off (PTO)
11 Paid Federal Holidays, and any applicable state holidays
401(k) plan with company match
Profit Sharing
competitive compensation in line with work experience
Mental health benefits including coaching and therapy sessions
Tuition Reimbursement for qualifying employees enrolled in an accredited degree program related to the needs of the business, maximum of $5,250 per calendar year, employees are eligible for the program upon hire
Employee Ambassador preferred banking products