What are the responsibilities and job description for the Credit Workout Officer II position at Northwest Bank?
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
Northwest is an equal opportunity employer. We are committed to creating an inclusive environment for all employees.
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
- 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
Northwest is an equal opportunity employer. We are committed to creating an inclusive environment for all employees.