Workout Officer II

TD • Fort Lauderdale, FL

1d • $91,000 - $136,240

About The Position

This group manages assigned adversely rated loans within the Small Business delinquency pool. The primary purpose/focus of the group is to modify, litigate or otherwise resolve relationships to maximize bank recovery. 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. Depth & Scope: 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

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

Nice To Haves

• Commercial/Small Business Lending experience – Ideal candidates have a CLA/CSA type of background
• Commercial Lending Platform experience – preferably Shaw, Fidelity
• Ability to oversee/workout 20 loans a week
• Strong work ethic, diplomacy, proven experience managing/fostering relationships, etc.

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

Benefits

• Total Rewards at TD includes base salary and variable compensation/incentive awards (e.g., eligibility for cash and/or equity incentive awards, generally through participation in an incentive plan) and several other key plans such as 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, and reward and recognition.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: Associate degree
• Number of Employees: 5,001-10,000 employees