BASIC FUNCTION This is a hybrid position with experience in both Loan Workout and Portfolio Management. A Loan Workout Officer is a critical player in the banking and financial sectors, dedicated to managing distressed loan portfolios and developing strategies for loan recovery and restructuring. MAJOR RESPONSIBILITIES • Review and analyze troubled loan portfolios to identify potential recovery strategies. • Negotiate loan terms with borrowers to facilitate loan restructuring and workout plans. • Prepare and present detailed reports on loan statuses and proposed recovery actions to senior management and Credit Committee. • Collaborate with legal teams to ensure compliance with all regulatory requirements during loan workouts. • Develop and implement recovery plans that align with the organization’s financial objectives. • Monitor and track the progress of restructured loans to ensure adherence to new terms. • Engage with external consultants and advisors to enhance recovery strategies. • Conduct site visits and meetings with borrowers to assess their financial situations. • Evaluate collateral and make recommendations on asset liquidation as necessary. • Account management responsibility for any CRE Criticized / Classified or Pass rated loans. • Provide ongoing credit oversight and portfolio management of the CRE loan portfolio through annual reviews, monitoring of covenant compliance and the creation and maintenance of “Watch List” credits. • Analyze income producing properties and/or business financial statements/ tax return and identify financial ratios and trends. • Ensure annual review and covenant compliance are completed. • Work with the SVP / Director of Portfolio Management in in all matters related to the management of troubled CRE assets. • Manage portfolio risk on a forward and proactive basis with respect to economic and industry trends, borrower concentrations, industry concentrations, likelihood of default and loss and criticized and classified loan migration. • Ensures all responsibilities are carried out in accordance with applicable federal, state, and local laws, regulations, and organizational policies, maintaining the highest standards of ethical and legal compliance. • Order appraisals, flood searches, and credit reports. JOB REQUIREMENTS Education: College Degree Experience: • Bachelor’s degree in finance, Business Administration, or a related field. • Experience in workout of loans or financial rehabilitation. • Strong negotiation and problem-solving skills. • Knowledge of regulatory requirements related to loan recovery. • Excellent communication and interpersonal skills. • Proficiency in financial analysis and reporting tools. • Advanced understanding of loan documentation and credit analysis. • Ability to manage multiple projects and deadlines effectively. • Minimum 5+ years of experience in a similar role. • Strong understanding of loan structures and credit risk. • Ability to analyze financial statements and borrower profiles. • Proficiency in spreadsheet and financial software applications. • Excellent organizational skills and attention to detail. • Effective communication skills, both written and verbal. • Ability to work independently and make informed decisions. Benefits • Holidays • Vacation • Health/Dental • Vision Service Plan • Short Term Disability • Long Term Disability • Life Insurance • Flexible Spending Accounts • 401k Savings Plan • Tuition Reimbursement • Employee Assistance Program • Free Employee Checking Account