Small Business Workout/Recovery Officer I

TD Bank • Greenville, SC

96d • $68,640 - $102,960

About The Position

The Workout Officer I 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. Depth & Scope: Works with more routine troubled accounts. Accompanies more experienced staff on account meetings and provides input and assistance as appropriate. May make independent account visits for smaller, less complex accounts. Meets with accounts and gathers financial, collateral, budget, business plan and other general business information. Explains workout process to accounts and compiles necessary information to complete analysis. Evaluates account information and prepares develops plan for resolution of loans. Executes workout plan of assigned adversely rated loans. Performs financial analyses and collateral reviews. Determines whether business plans and budgets are reasonable and attainable. Reviews liquidation plans if applicable. May negotiate with borrowers, principals, debtor Company management, attorneys, accountants, consultants, and others to secure appropriate repayment on loans for less complex agreements within parameters defined by workout decisions agreed upon with department management. Coordinates documentation preparation, reviews documents and finalizes workout agreements with accounts. Performs more routine 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. May coordinate with outside attorneys for less complex accounts, utilizing knowledge of legal guidelines and industry practices to limit attorney time. 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. Ensures the accuracy and maintenance of Customer records and files and updates information as needed.

Requirements

• Bachelor's degree or progressive work experience.
• 1-2 years related experience.
• Credit analysis skills.
• Ability to read, understand and interpret financial statements and tax returns.
• Familiarity with a variety of commercial loans.
• Understanding of workout strategies and techniques.
• Strong negotiation and communication skills.
• Strong PC skills.

Nice To Haves

• Background within bankruptcy and litigations.
• Small Business Loans experience.
• Strong understanding of loan documents.
• Collections experience.

Responsibilities

• Perform workout of assigned adversely rated loans.
• Meet with accounts and gather financial, collateral, budget, business plan and other general business information.
• Explain workout process to accounts and compile necessary information to complete analysis.
• Evaluate account information and prepare a plan for resolution of loans.
• Execute workout plan of assigned adversely rated loans.
• Perform financial analyses and collateral reviews.
• Determine whether business plans and budgets are reasonable and attainable.
• Review liquidation plans if applicable.
• Negotiate with borrowers and other stakeholders to secure appropriate repayment on loans.
• Coordinate documentation preparation and finalize workout agreements with accounts.
• Monitor status of assigned accounts to ensure compliance with workout agreements.

Benefits

• Base salary and variable compensation/incentive awards.
• Health and well-being benefits.
• Savings and retirement programs.
• Paid time off (including Vacation PTO, Flex PTO, and Holiday PTO).
• Banking benefits and discounts.
• Career development opportunities.
• Reward and recognition programs.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Industry: Credit Intermediation and Related Activities
• Education Level: Bachelor's degree