What are the responsibilities and job description for the Senior Loan Workout Officer position at Metropolitan Commercial Bank?
Come Work With Us
Metropolitan Commercial Bank (the “Bank”) is a full-service commercial bank based in New York City. The Bank provides a broad range of business, commercial, and personal banking products and services to individuals, small businesses, private and public middle-market and corporate enterprises and institutions, municipalities, and local government entities.
Metropolitan Commercial Bank was named one of Newsweek’s Best Regional Banks and Credit Unions 2024. The Bank was ranked by Independent Community Bankers of America among the top ten successful loan producers for 2023 by loan category and asset size for commercial banks with more than $1 billion in assets. Kroll affirmed a BBB (investment grade) deposit rating on January 25, 2024. For the fourth time, MCB has earned a place in the Piper Sandler Bank Sm-All Stars Class of 2024.
Metropolitan Commercial Bank operates banking centers and private client offices in Manhattan, Boro Park, Brooklyn and Great Neck on Long Island in New York State.
The Bank is a New York State chartered commercial bank, a member of the Federal Reserve System and the Federal Deposit Insurance Corporation, and an equal housing lender. The parent company of Metropolitan Commercial Bank is Metropolitan Bank Holding Corp. (NYSE: MCB).
We have a flexible work schedule where employees can work from home one day a week.
Position Summary
The Loan Workout Officer is dedicated to managing distressed loan portfolios and developing strategies for loan recovery and restructuring. They serve as a bridge between financial institutions and borrowers, working diligently to find mutually beneficial solutions that mitigate losses and help borrowers regain financial stability
This position will report to the Chief Executive Officer
Essential Duties And Responsibilities
This salary range only reflects base wages and does not include benefits, bonus, or incentive pay. Salary bands are purposefully wide ranging to encompass the different factors considered in determining where a candidate falls in the range, including but not limited to, seniority, performance, experience, education, and any other legitimate, non-discriminatory factor permitted by law.
Metropolitan Commercial Bank provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state, or local laws.
This applies to all terms and conditions of employment, including recruiting, hiring, placement, promotion, termination, layoff, recall, transfer, leaves of absence, compensation, and training.
Metropolitan Commercial Bank (the “Bank”) is a full-service commercial bank based in New York City. The Bank provides a broad range of business, commercial, and personal banking products and services to individuals, small businesses, private and public middle-market and corporate enterprises and institutions, municipalities, and local government entities.
Metropolitan Commercial Bank was named one of Newsweek’s Best Regional Banks and Credit Unions 2024. The Bank was ranked by Independent Community Bankers of America among the top ten successful loan producers for 2023 by loan category and asset size for commercial banks with more than $1 billion in assets. Kroll affirmed a BBB (investment grade) deposit rating on January 25, 2024. For the fourth time, MCB has earned a place in the Piper Sandler Bank Sm-All Stars Class of 2024.
Metropolitan Commercial Bank operates banking centers and private client offices in Manhattan, Boro Park, Brooklyn and Great Neck on Long Island in New York State.
The Bank is a New York State chartered commercial bank, a member of the Federal Reserve System and the Federal Deposit Insurance Corporation, and an equal housing lender. The parent company of Metropolitan Commercial Bank is Metropolitan Bank Holding Corp. (NYSE: MCB).
We have a flexible work schedule where employees can work from home one day a week.
Position Summary
The Loan Workout Officer is dedicated to managing distressed loan portfolios and developing strategies for loan recovery and restructuring. They serve as a bridge between financial institutions and borrowers, working diligently to find mutually beneficial solutions that mitigate losses and help borrowers regain financial stability
This position will report to the Chief Executive Officer
Essential Duties And 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.
- 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.
- Participate in training sessions to stay updated on financial regulations and industry best practices.
- Bachelor’s degree in Finance, Business Administration, or a related field.
- Experience in loan management or financial rehabilitation. Strong understanding of loan structures and credit risk.
- 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 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
This salary range only reflects base wages and does not include benefits, bonus, or incentive pay. Salary bands are purposefully wide ranging to encompass the different factors considered in determining where a candidate falls in the range, including but not limited to, seniority, performance, experience, education, and any other legitimate, non-discriminatory factor permitted by law.
Metropolitan Commercial Bank provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state, or local laws.
This applies to all terms and conditions of employment, including recruiting, hiring, placement, promotion, termination, layoff, recall, transfer, leaves of absence, compensation, and training.
Salary : $215,000 - $250,000
