Senior Credit Workout Officer IV

Northwest Bank•Buffalo, NY

13d

About The Position

The Senior Credit Workout Officer IV meets with borrowers and evaluates management teams and business plans to determine whether credit should be retained or exited. The officer negotiates with professionals to establish workout or exit plans and recommends loss-mitigation strategies. The role also monitors troubled credits, coordinates collection and legal-related activities, and prepares loan portfolio reviews and quarterly reports. The position works with minimal direct supervision, uses independent judgment, collaborates with loan officers and other internal and external parties, and helps improve workout policies and procedures. The officer is expected to comply with company policies and applicable federal and state regulations, use departmental technology and Microsoft Office tools effectively, and follow workplace safety procedures. The position requires a bachelor's degree in business, accounting, finance, or a related subject, and 8–12 years of experience in an area related to commercial lending, such as special assets, loan review, credit, or lending. The posted annual pay range is $115,000–$135,000, with actual pay dependent on factors including experience, skills, and knowledge. Additional bonus earning opportunities and benefits are available.

Requirements

Bachelor's degree in business, accounting, finance, or a related subject.
8–12 years of experience in an area related to commercial lending, including special assets, loan review, credit, and/or lending.
Ability to establish effective working relationships, participate in problem solving, and contribute to decisions.
Ability to communicate ideas and information clearly and concisely, orally and in writing, in a manner appropriate to the audience.
Ability to listen actively, share information, and facilitate an open exchange of ideas and information.
Ability to set courses of action and goals, track work progress, and use resources such as time and information effectively.
Ability to make sound decisions using perceptive and analytical processes and exercise good judgment in ambiguous situations.
Team-player skills.
Extensive organizational skills.
Extensive ability to analyze data, bankruptcy, foreclosures, and repossession.
Ability to use Microsoft Office, computer applications, and department-specific software.
Ability to work with on-site equipment and follow safety procedures.

Responsibilities

Meet with borrowers and evaluate management teams and business plans to determine whether to retain or exit credit.
Ensure the integrity of loan documentation and review loan documents to confirm collateral perfection.
Analyze financial statements and identify and resolve problems or issues.
Record agreements and conversations and prepare correspondence and documentation for workout or exit plans.
Discuss credit grades and workout procedures, issue demand letters, and report agreed payment terms and plans.
Monitor collection activity and bankruptcies, obtain judgments, and prepare for litigation.
Establish workout or exit plans and negotiate with professionals to develop them.
Locate and inspect collateral; coordinate foreclosures and the liquidation and sale of assets with appropriate staff and counsel.
Partner with loan officers and interact with other financial institutions and examiners.
Order appraisals and initiate charge-offs and write-downs.
Recommend the best loss-mitigation strategy.
Prepare loan portfolio reviews and quarterly reports and recommend improvements to workout policies and procedures.
Build relationships with internal customers, maximize available technology tools, and minimize departmental costs.
Ensure compliance with company policies and procedures and federal and state regulations.
Work as part of a team and use on-site equipment.
Follow safety and loss-prevention rules, perform tasks safely, report injuries to a supervisor, and know what to do in an emergency.