Loan Workout Officer Job at Valley Bank, Fairfield, Essex County, NJ

cGk4Wit0NGlTUFRIVFJuaHZhRGpGTzkxNUE9PQ==
  • Valley Bank
  • Fairfield, Essex County, NJ

Job Description

Job Overview

The Workout Officer seeks repayment of commercial loans and commercial mortgages that are in default or that have an impaired likelihood of recovery.

Responsibilities include but are not limited to:

  • Restructure problem loans by implementing an amortization plan based on the borrower's realistic ability to repay.
  • Seek alternate means of loan repayment through the liquidation of collateral, when necessary, in an effort to protect the bank's interest.
  • Reduce the overall degree of risk associated with Special Asset credits.
  • Guide outside counsel in collection strategy in order to maximize recovery.
  • Analyze financial statements, loan documents, and collateral to ascertain best collection route.
  • Make recommendations to senior management as to risk ratings, accrual of interest and charge-offs.
  • Review, analyze and correct any structural or documentation deficiencies and monitor the Bank's collateral position or liquidation of the collateral.
  • Frequent interaction with senior management regarding the status of problem loans.

Required Skills:

  • Working knowledge of and ability to use basic computer programs such as Word, Excel and Outlook.
  • Good mathematical skills
  • Excellent communication skills both written and verbal.
  • Ability to review and understand documents such as notes, guaranties, security agreements and mortgages, and the meaning of provisions and terms contained therein.
  • Ability to review and understand financial documents such as personal financial statements, credit reports and tax returns.
  • Basic understanding of legal proceedings and terms.
  • Excellent organizational skills and the ability to handle multiple projects and deadlines.
  • Effective interpersonal skills with management, colleagues, administrative staff, obligors and their advisors, in-house and outside counsel and members of other departments.

Required Experience:

  • Bachelor's degree and a minimum of five years related experience, or High School diploma and a minumum of 7 years of experience.
  • Valid driver's license.

Preferred Experience:

  • JD degree or training or experience with legal proceedings such as foreclosures, collections actions and bankruptcies preferred.

Job Tags

Bank staff,

Similar Jobs

MedPro Healthcare Allied Staffing

Travel Medical Technologist Job at MedPro Healthcare Allied Staffing

 ...Job Description MedPro Healthcare Allied Staffing is seeking a travel Medical Technologist for a travel job in Bel Air, Maryland. Job Description & Requirements ~ Specialty: Medical Technologist ~ Discipline: Allied Health Professional ~ Start Date: 01/2... 

LaSalle Network

Part Time Receptionist Job at LaSalle Network

 ...LaSalle Network is partnering with a fast-growing company in downtown Chicago to hire a Part-Time Receptionist! This is more than just a front desk rolethis team is looking for someone who can bring warmth, reliability, and organization to a collaborative and people-first... 

Marriott International

Massage Therapist Job at Marriott International

 ...inappropriate guest behavior by following Marriott International standard operating procedures for Inappropriate conduct for guests and therapists, leading up to and including stopping a treatment or service and informing supervisor/manager. Maintain current skills and... 

Temple University

Patient Escort Job at Temple University

 ...The Escort transports patients, equipment and deceased persons as required following established methods and procedures. Assists nursing personnel with patient handling and transfers; and is responsible for maintaining and cleaning transportation equipment. Education... 

Nexon America Inc

Game Designer Job at Nexon America Inc

Description: for Pay Transparency (annually) The base salary range for this position in El Segundo, CA is $80,000 - $100,000 annually. Our salary ranges are determined by market data based on position and level. The range displayed on each job posting reflects the minimum...