Job Location : Warren,PA, USA
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:
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
Education and Experience preferred
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)
This position will be performed onsite Mon - Thurs with Friday an optional work from home day.
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.
#LI-EK1
Northwest is an equal opportunity employer. We are committed to creating an inclusive environment for all employees.