Workout Officer III (US)

TD•Portland, ME

5d•$115,440 - $173,160

About The Position

The Workout Officer III performs workouts of assigned adversely rated and delinquent loans, handling the most complex accounts independently while keeping department management informed. The role develops and implements workout and liquidation plans, conducts in-depth financial and collateral analyses, and negotiates repayment terms and complex agreements with borrowers and other parties. It coordinates with internal teams, outside attorneys, consultants, accounting firms, lenders, and other professionals, and applies extensive knowledge of workout methods, procedures, legal requirements, and industry practices. The position also provides guidance and training to less experienced staff and works independently and autonomously. The role is based in Portland, Maine, with 40 hours listed. The advertised pay range is $115,440–$173,160 USD. A bachelor’s degree or progressive work experience, in addition to 5–7 years of related experience, is required. TD describes a total rewards package that includes salary and potentially variable compensation, health and well-being benefits, savings and retirement programs, paid time off, banking benefits and discounts, career development, and recognition. The company also offers training and onboarding, career-development conversations, an online learning platform, and mentoring programs.

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.
Ability to handle the most complex accounts independently and work autonomously.
Occasional domestic travel; international travel is never required.
Ability to meet the stated physical requirements, including occasionally lifting or carrying under 25 pounds; lifting or carrying over 25 pounds is never required.

Responsibilities

Communicate workout decisions to customers.
Negotiate terms and conditions for complex agreements within approved workout parameters, coordinating with internal staff and outside professionals as needed.
Coordinate with outside attorneys on complex accounts, using knowledge of legal guidelines and industry practices to limit attorney time.
Review workout plans and recommendations with department management; provide account background and clear supporting analysis; obtain approval or modify recommendations as needed.
Provide guidance and training to less experienced staff and contribute to team communication and knowledge-sharing.
Implement liquidation plans, convert assets into cash, close accounts, seize assets, foreclose on real estate, and coordinate third-party asset sales.
Use industry contacts to determine interest in available assets and attend auctions of seized property to make minimum bids that protect the company’s financial position.
Meet with accounts and gather financial, collateral, budget, business-plan, and other business information in coordination with internal and external partners.
Explain the workout process to accounts and compile information needed for analysis.
Evaluate complex account information and prepare project-plan documentation for account files.
Conduct in-depth financial analyses and collateral reviews; assess whether business plans and budgets are reasonable and attainable.
Review liquidation plans when applicable and coordinate with line management and other internal areas.
Develop complete workout plans, which may include unusual specialized financing arrangements.
Negotiate repayment with borrowers, principals, debtor-company management, attorneys, accountants, consultants, and others for complex agreements.
Coordinate preparation of documentation, review documents, and finalize workout agreements with accounts.
Perform the functions of Workout Officer I and II while handling the most complex deals and applying extensive knowledge of workout methods, procedures, and techniques.
Respond promptly to new and unusual business situations and work independently and autonomously.
Support the Bank’s customer-service strategy, consider the effects of decisions on TD, customers, and stakeholders, deliver quality service, and contribute to improving the partner and customer experience.
Participate as a team member, contribute to an inclusive and positive work environment, and keep the team informed about project status and issues.
Meet the role’s physical and cognitive requirements, including continuous sedentary work, sitting, multitasking, operating standard office equipment, sustained concentration, and reading, writing, and comprehending instructions.