Workout Officer III (US)

TD Bank • Portland, ME

3d

About The Position

The Workout Officer III performs workouts of assigned adversely rated loans and is responsible for collecting assigned delinquent accounts across one or more loan types. The role handles the most complex deals and accounts, meets independently with complex borrowers, works autonomously, and keeps department management informed. It requires extensive knowledge of workout methods, procedures, techniques, industry practices, and legal requirements.

The officer evaluates complex account information, conducts in-depth financial analyses and collateral reviews, assesses business plans and budgets, and prepares account documentation and complete workout plans. Plans may involve unusual or specialized financing arrangements. The role negotiates repayment terms with borrowers and related parties, coordinates with internal teams and outside professionals, and prepares and finalizes workout agreements. It may also implement liquidation plans, seize assets, foreclose on real estate, coordinate third-party asset sales, and attend auctions to protect the company's financial position.

The position provides guidance and training to less experienced staff and contributes to a positive, inclusive team environment. It supports TD's customer service strategy by considering the impact of decisions on customers and stakeholders and delivering high-quality service to internal partners, vendors, and customers.

Requirements

• Bachelor's degree or progressive work experience in addition to the required related experience.
• 5–7 years of related experience.
• Strong credit analysis skills.
• Ability to read, understand, and interpret complex financial statements.
• Strong understanding of a wide variety of complex and unusual financing arrangements.
• In-depth understanding of workout strategies and techniques.
• Strong negotiation skills.
• Strong verbal and written communication skills.
• PC skills.

Responsibilities

• Perform workouts of assigned adversely rated loans and collect assigned delinquent accounts for one or more loan types.
• Meet independently with the most complex accounts and keep department management informed; refer unusual questions as appropriate.
• Communicate workout decisions to customers and negotiate complex agreement terms within approved parameters.
• Gather financial, collateral, budget, business plan, and other business information in coordination with commercial lenders and internal and external professionals.
• Explain the workout process, compile information for analysis, evaluate complex account information, and prepare project plan documentation.
• Conduct in-depth financial analyses and collateral reviews and assess whether business plans and budgets are reasonable and attainable.
• Develop complete workout plans, including unusual or specialized financing arrangements, and review plans and recommendations with department management.
• Present account background, data, reasoning, and analysis; obtain management approval or modify recommendations as needed.
• Coordinate with line management, internal partners, outside attorneys, consultants, accountants, and other professionals.
• Negotiate repayment with borrowers, principals, debtor company management, attorneys, accountants, consultants, and others.
• Coordinate preparation of documentation, review documents, and finalize workout agreements.
• Implement liquidation plans when needed, including converting assets to cash, closing accounts, seizing assets, foreclosing on real estate, and coordinating third-party asset sales.
• Use industry contacts to assess interest in available assets and attend auctions of seized property to make minimum bids that protect the company's financial position.
• Provide guidance and training to less experienced staff and share information and knowledge with the team.
• Support TD's customer service strategy and deliver high-quality service to customers, vendors, and internal partners.
• Maintain ongoing communication with the team about project status, progress, and issues.

Benefits

• 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
• Reward and recognition
• Training and onboarding
• Online learning platform and mentoring programs
• Eligibility for cash and/or equity incentive awards through participation in an incentive plan

What This Job Offers

• Job Type: Full-time
• Career Level: Senior