Senior Credit Workout Officer IV

Job Description

The Senior Credit Workout Officer IV is responsible for a variety of duties including (i) meeting with borrowers, and (ii) evaluating management teams and business plans to determine whether or not to retain or exit credit, while negotiating with professionals to establish a workout or exit plan.

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 for workout plan

Discuss credit grades and workout procedures

Issue demand letters

Monitor collection activity and bankruptcies

Obtain judgments

Establish workout or exit plans

Report agreed payment terms and plans

Locate and inspect collateral

Coordinate foreclosures

Partner with loan officers

Prepare for litigation

Coordinate liquidation and sale of assets with appropriate staff and counsel

Order appraisals

Initiate chargeoffs and write downs

Negotiate with professionals to establish a workout or exit plan

Interact with other financial institutions and examiners

Recommend the best loss mitigation strategy

Work with minimal direct supervision and use independent judgment and decision making

Prepare reviews and quarterly reports on workout loans

Recommend improvements to workout policies and procedures

Build relationships with internal customers

Maximize available technology tools

Minimize departmental costs

Ensure compliance with Northwest's policies and procedures, and Federal / State regulations

Navigate Microsoft Office Software, computer applications, and software specific to the department in order to maximize technology tools and gain efficiency

Work as part of a team

Work with on-site equipment

Education + Experience

Bachelor's degree in business / accounting or finance degree or related subject matter

8-12 years of experience of experience in an area related to commercial lending including special assets, loan review, credit and / or lending

Ability to analyze data, bankruptcy, foreclosures, and repossession

This position is based onsite Monday - Thursday with Friday as an optional work from home day.

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Northwest is an equal opportunity employer. We are committed to creating an inclusive environment for all employees.