VP- Loan Workout

Carver Federal Savings Bank•New York, NY

1d•$160,000 - $180,000

About The Position

The Loan Workout VP is responsible for managing a portfolio of troubled, delinquent, or high-risk commercial and consumer loans. This role focuses on minimizing credit losses, developing effective restructuring strategies, and working directly with borrowers to negotiate repayment solutions. The individual will analyze financial information, assess collateral positions, recommend appropriate workout strategies, and ensure compliance with bank policies and regulatory requirements.

Requirements

Bachelor’s degree in Finance, Accounting, Business Administration, or related field preferred.
Minimum of 3–5 years of experience in credit analysis, collections, or loan workout management.
Strong knowledge of commercial lending, credit structuring, and regulatory guidelines.
Excellent analytical, negotiation, and problem-solving skills.
Ability to communicate effectively with borrowers and internal stakeholders.
Proficiency in financial statement analysis and banking systems.
Strong organizational skills with the ability to manage multiple priorities.

Responsibilities

Manage assigned portfolio of criticized, classified, and delinquent loans.
Evaluate borrower financial statements, cash flow projections, and repayment capacity.
Develop and recommend loan modification, forbearance, restructuring, or liquidation strategies.
Negotiate repayment plans, extensions, modifications, and settlements with borrowers.
Monitor borrower performance and adherence to workout agreements.
Collaborate with internal departments including Credit, Legal, Risk Management, and Loan Operations.
Prepare detailed credit memorandums and recommendations for approval.
Ensure accurate loan risk ratings and timely documentation updates.
Coordinate with outside counsel, appraisers, and collection agencies when necessary.
Prepare reports on portfolio status, trends, and potential loss exposure.
Maintain compliance with all applicable banking regulations and internal policies.
Participate in credit committee meetings and present workout strategies.