Special Assets and Lending Workout Officer

ConnectOne Bank • Englewood Cliffs, NJ

2d • Hybrid

About The Position

The Special Assets and Lending Workout Officer is responsible for the management of an assigned portfolio of troubled loans in compliance with all applicable State and Federal laws, rules and regulations, and Bank loan policies and procedures.

Requirements

• Expert knowledge of relevant Federal and State banking regulations.
• Familiarity with Bank security and safety practices.
• Familiarity with collections, foreclosure, and bankruptcy procedures.
• Working knowledge of all consumer, commercial, and commercial real estate lending, compliance, and regulatory requirements.
• Strong negotiation skills.
• Conflict resolution experience.
• Good organizational skills, with the ability to multitask efficiently.
• Proven ability to problem solve and handle a wide range of decision making.
• Strong attention to detail.
• Strong “People First” interest and ability.

Nice To Haves

• Working knowledge of Google applications and products is preferred.
• Working knowledge of the nCino platform is helpful, but not required.
• 5 years of workout experience is preferred.

Responsibilities

• Support the Bank’s “People First” focus and rules of engagement—maintaining a professional demeanor, working as an active member of the CNOB team, providing all clients excellent service, always striving to make CNOB “A Better Place to Be”.
• Implement approved loan collection and litigation plans, including taking appropriate measures to mitigate the risk of loan loss, preserving collateral and/or lien rights, and documenting any loan restructure.
• Evaluate assigned loans, borrowers and guarantors.
• Review loan documentation for errors and/or deficiencies.
• Serve as asset manager for assigned loan relationships to improve loan performance or status.
• Develop and recommend workout strategies and make necessary judgments to protect the bank's interest and achieve maximum recovery.
• Review and assess the potential impact of borrower bankruptcy filings to ensure protection of the bank’s position as a creditor.
• Administer the disposition of Other Real Estate Owned (OREO) assets.
• Implement strategies for legal action through Bank Counsel.
• Monitor and report the status of assigned loans to Senior Management. Such reporting includes, but is not limited to, past due loan reports, risk rating recommendations, and assessing loan loss potential.
• Prepare and present requests for approval of workouts, restructures, litigation, and liquidation.
• Prepare a variety of monthly and quarterly reports (e.g., monthly criticized loan reports, quarterly impairment analysis reports).

Benefits

• World class health, vision, and dental benefits on day one
• 401k with employer match
• Hybrid work from home (depending on role)
• Employee appreciation events (team building, softball games, food truck days, etc..)
• Employee assistance programs (EAP)
• Wellness programs (flu shot, preventive care, health programs and services discounts, etc..)
• Tuition reimbursement
• Employee Discount perks
• CNOB Community Service Events

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: No Education Listed