Commercial Loan Workout Officer

About the role

This position will be based out of our Corporate Centre in Merrillville, IN. Onsite expectations would be 4 days per week with the flexibility to work 1 day from home. Department hours are Monday-Friday 8:00-5:00 CST.

Responsibilities

• Primary responsibilities the successful management of a portfolio of assigned substandard, special mention, watch, and pass rated commercial loan accounts, and ORE.
• Will manage a portfolio of distressed loans or relationships up to $1,000,000 and performing loans or relationships up to $1,500,000.
• Requires the development, negotiation, and documentation of loan renewal and modification agreements, forbearance agreements, and legal strategy in collaboration with bank counsel.
• Measurements include demonstrated reductions in distressed loans, credit risk, credit losses, and achieved recoveries.
• Aids senior commercial workout officers and completes credit risk reviews as assigned.
• Works closely and collaborates with all Credit Risk Management staff.
• Works directly with those including borrowers, lenders, operations staff, documentation staff, credit analysts, attorneys, property managers, and real estate brokers.
• Requires completion and maintenance of customary and additionally determined necessary due diligence in compliance with bank policies and guidelines.

Requirements

• Effective organizational, time management, multi-tasking, and problem-solving skills.
• Excellent written and verbal communication skills.
• Proven experience in collateral analysis along with commercial loan documentation experience.

Qualifications

• Bachelor’s degree with concentration in business, finance, or accounting preferred.
• Additional Bachelor’s degree concentrations considered in relation to past and present experience, responsibilities, continuing education, and certifications.
• Associate degrees with progress toward bachelor’s degrees considered similarly.
• 2 to 3 years of prior commercial workout experience or a combination of prior commercial lending, credit underwriting, portfolio management, financial analysis, documentation, examination, audit, compliance, and SBA experience considered.

Skills

• Effective organizational, time management, multi-tasking, and problem-solving skills.
• Excellent written and verbal communication skills.
• Proven experience in collateral analysis along with commercial loan documentation experience.

Benefits

• Access to our Marathon Health Clinics which provide FREE visits & prescriptions.
• Generous Paid Time Off benefit.
• Tuition Reimbursement.
• 401K match.
• Associate Stock Ownership Plan.
• Daycare Reimbursement.
• FREE Onsite Fitness Center/Fitness Reimbursements.
• Health and Wellness Programs.
• The ability to have a voice with our Diversity/Equity/Inclusion Council.
• Career Growth.
• Work/Life Balance.
• AND MORE.

Pay

N/A

Schedule

N/A