What are the responsibilities and job description for the Credit Workout Officer III - SBA focus position at Northwest Bank?
Job Description
The Credit Workout Officer III is responsible for recommending the best loss mitigation strategy for Northwest, improving the processes within Special Assets while also performing a variety of duties including meeting with borrowers and evaluating management teams and business plans to determine whether to retain or exit a credit.
Essential Functions
The pay range for this position is generally $70,000 - $105,000 annually. Actual pay is based on various factors including but not limited to the successful candidate’s experience, skills, and knowledge. Additional bonus earning opportunities and benefits are also available.
Northwest is an equal opportunity employer. We are committed to creating an inclusive environment for all employees.
The Credit Workout Officer III is responsible for recommending the best loss mitigation strategy for Northwest, improving the processes within Special Assets while also performing a variety of duties including meeting with borrowers and evaluating management teams and business plans to determine whether to retain or exit a credit.
Essential Functions
- Prepare the appropriate loan recaps
- Conduct annual reviews and assign risk ratings
- Recommend proper loan structure
- Identify credit strengths, weaknesses and mitigating factors
- Engage counsel when appropriate on behalf of Northwest
- Discuss grades and workout procedures
- Issue demand letters
- Monitor collection activity and bankruptcies
- Obtain judgments
- Establish workout plans on behalf of Northwest
- Locate/inspect collateral as necessary
- Partner with loan officers to consult on troubled credits
- Order appraisals
- Initiate charge-offs / write downs if applicable
- Work with minimal direct supervision and use independent judgment and decision making
- Prepare management reports as required
- Responsible for all compliance and audit-related matters in area of responsibility
- Participate in special projects as required
- Remain current on all bank rules and regulations relating to Credit Administration
- Coordinate foreclosures with counsel
- Recommend improvements to procedures
- Build relationships with internal customers
- Minimize departmental non-payroll costs
- Monitor, develop and suggest revisions to workflows and procedures as necessary to enhance efficiency and minimize expenses
- Manage workout process for 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
- Bachelor’s degree or related experience
- 5-6 years of experience in an area related to commercial lending including special assets, loan review, credit administration and / or lending
- Ability to analyze data, along with understanding bankruptcy, foreclosures, and repossession process
- Familiarity with & knowledge of the SBA Standard Operating Procedures (SOP)
The pay range for this position is generally $70,000 - $105,000 annually. Actual pay is based on various factors including but not limited to the successful candidate’s experience, skills, and knowledge. Additional bonus earning opportunities and benefits are also available.
Northwest is an equal opportunity employer. We are committed to creating an inclusive environment for all employees.
Salary : $70,000 - $105,000
