SBA Workout Officer II

TD Bank•Mount Laurel, NJ

5d•Onsite

About The Position

The Workout Officer II performs workout of assigned adversely rated loans. Meetings with all but the most complex accounts, referring only unusual questions to department management. Responsible for the collection of assigned delinquent accounts for one or more types of loans. The primary purpose/focus of this position is to workout/ litigates and strategizes downgraded credits to maximize bank recovery including analyzing documents related to servicing a Small Business Administration loan under Standard Operating Procedures.

Requirements

Associate's degree
3-5 Years of related experience
Strong credit analysis skills
Ability to read, understand and interpret more complex financial statements
Familiarity with a variety of more complex commercial loans
In-depth understanding of workout strategies and techniques
Strong negotiation skills
Strong Communication skills, both verbal and written
PC skills

Responsibilities

Communicates workout decisions to Customers
Negotiates specific terms and conditions for more complex agreements within parameters defined by workout decisions in coordination with appropriate internal staff and outside professionals as necessary
Coordinates with outside attorneys for more complex accounts, utilizing more in-depth knowledge of legal guidelines and industry practices to limit attorney time
Coordinates documentation preparation, reviews documents and finalizes workout agreements with accounts with assistance from more experienced staff only in unusual situations
Monitors status of assigned accounts on an ongoing basis to ensure compliance with workout agreements; reviews financial statements, meets with Customers, checks on collateral and takes appropriate action as needed
Reviews workout plans and recommendations with department management
Provides background information on accounts and supports recommendations with clear explanations of data, reasoning and analysis
Obtains support and approval of recommendations from department management or modifies them as needed
Implements liquidation plans with accounts as needed, converting assets into cash and closing accounts; seizes assets, forecloses real estate and coordinates third party asset sales
Utilizes extensive industry contacts to determine interest in available assets
Attends auctions of seized property to make minimum bids on assets to protect Company's financial position
Performs financial analyses and collateral reviews, evaluates budget feasibility, consults with more experienced staff to make recommendations on workout terms to recover principal, interest and collection costs subject to department manager approval as necessary and communicates with accounts to finalize agreements
Meets with accounts and gathers financial, collateral, budget, business plan and other general business information in close coordination with commercial lenders and other appropriate internal and outside staff as necessary, including Customer financial staff, turnaround consultants, accounting firms, attorneys and others
Explains workout process to accounts and compiles necessary information to complete analysis
Evaluates account information and prepares project plan documentation for account file
Negotiates with borrowers, principals, debtor Company management, attorneys, accountants, consultants, and others to secure appropriate repayment on loans for more complex agreements within parameters defined by workout decisions agreed upon with department management with limited need for outside attorney time because of in-depth knowledge of industry practices and legal requirements
Performs all the functions of a Workout Officer I, but handles more complex deals and maintains more in-depth knowledge of workout methods, procedures and techniques
Performs workout of assigned adversely rated loans, meeting with assigned larger, more complex accounts under limited supervision of more experienced staff or management
Works Independently