Credit Workout Officer II

Job Description

The Credit Workout Officer II is responsible for performing a variety of duties including meeting with borrowers, evaluating management teams, and business plans to determine whether to retain or exit credit.

Essential Functions

• Ensure integrity of loan documentation
• Review loan documents for perfection of collateral
• Analyze financial statements
• Identify and resolve problems / issues
• Record all agreements and conversations
• Prepare correspondence and documentation with regards to workout plan
• Discuss grades and workout procedures
• Issue demands letters
• Monitor collection activity, and bankruptcies
• Obtain judgments
• Establish Workout plans
• Report agreed payment terms and plans
• Locate collateral / inspection
• Coordinate foreclosures
• Partner with loan officers
• Prepare for litigation
• Coordinate sale of acquired assets / with appropriate staff, liquidation of assets and sales, and legal plan action with counsel
• Order appraisals
• Initiate Charge-offs / write downs
• Prepare reviews on workout loans, and quarterly workout updates
• Familiarity with & knowledge of the SBA Standard Operating Procedures (SOP).
• Liquidation of SBA 7 & 504 Loans
• Participate in quarterly SAG Watch Calls and preparation of CRIT Forms
• Ensure compliance with Northwest’s policies and procedures, and Federal/State regulations
• Navigate Microsoft Office Software, computer applications, and software specific to the department to maximize technology tools and gain efficiency
• Work as part of a team
• Work with on-site equipment

Education and Experience preferred

• Bachelor’s degree in business, accounting, finance or related
• 3-5 years of experience related to commercial lending including special assets, loan review, credit and / or lending
• Ability to analyze data related to bankruptcy, foreclosure, and repossession

This position will be performed onsite Monday - Thursday with Friday an option work from home day.

Northwest is an equal opportunity employer. We are committed to creating an inclusive environment for all employees.