Credit Workout Officer II at Northwest Bank
Job Description
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.
Resume Suggestions
Highlight relevant experience and skills that match the job requirements to demonstrate your qualifications.
Quantify your achievements with specific metrics and results whenever possible to show impact.
Emphasize your proficiency in relevant technologies and tools mentioned in the job description.
Showcase your communication and collaboration skills through examples of successful projects and teamwork.