Commercial Workout Officer

What You’ll Do

• Responsible for the effective management of distressed complex (CRE) & (C&I) member business loans within a $2B+ national portfolio.
• Ensures timely remediation of transactions while mitigating losses and maximizing recoveries.
• Establishes action plans with specific resolutions and promptly conveys recommendations on adjustments for risk rating, loss recognitions/write-offs and accrual status to senior management and loan participants.
• Uses professional knowledge, experience and analytical criteria to make decisions and acts independently to determine methods and procedures on new assignments.

Core Contributions

• Effectively manages an assigned portfolio of distressed commercial real estate loans (CRE) and Commercial and Industrial loans (C&I).
• Works closely with commercial lending to develop feasible, timely workout strategies, restructuring credit and repayment terms, better securing collateral or establishing recourse to other borrower assets.
• Includes the formulation of these strategies in a comprehensive financial analysis including but not limited to, financial spreading, covenant monitoring, identification of risk and mitigants, cost/benefit analysis of remediation options, reassessment of risk rating and loan loss reserve and consideration of the borrower’s financial ability, intent, willingness, reason for default and ability to make payment.
• Manages the enforcement of the credit union’s rights and remedies if negotiated workout plan proves not feasible and/or further default ensues.
• Works closely with external counsel, court appointed receivers and others in enforcement proceedings to maximize the recovery of nonperforming assets.
• Collaborates with appraisers and other professionals to coordinate and establish liquidation value of collateral.
• Coordinates with internal accounting department and external legal counsel as necessary to ensure compliance of negotiated workout agreements with established company policies and regulatory agencies (NCUA).
• Works closely with participants on all remedial strategies (workout, note sale, foreclosure, etc.).
• Generates and manages monthly participant status updates and billing (when applicable) in this position.
• Coordinates with the accounting department in regards to billing in this position.
• Responsible for all commercial real estate delinquency reporting (Watch Asset Report) for the Asset Quality Committee (AQC) and the Board on a quarterly basis.

Assets You Will Bring

• Bachelor's degree in business administration/management (MBA preferred)
• Formal credit training
• 10+ years of experience
• Experience in commercial lending, commercial loan workouts, and comprehensive understanding of legal remediation
• Skills: Commercial Lending, Underwriting, Risk Assessment, Credit Report Analysis & Negotiation

Pay

The expected salary for this position is $106,391.00 to $127,669.00 annually.

Benefits

• Competitive 401k
• Tuition reimbursement
• Flexible work options
• Volunteer opportunities
• Water Cooler Chats with executive teammates
• Clubs & Sports
• Food truck days

What Sets Us Apart?

Along with a comprehensive benefit package, we offer:

• Competitive 401k
• Tuition reimbursement
• Flexible work options
• Volunteer opportunities
• Water Cooler Chats with executive teammates
• Clubs & Sports
• Food truck days

Who is FourLeaf?

FourLeaf Federal Credit Union (FourLeaf) has been committed to the financial well-being of our members for over 80 years. Through our full range of competitive savings and loan products, you can trust us in every step of your financial journey. From applying for a credit card to closing on your mortgage to opening your child’s first savings account, FourLeaf is here to help you reach your financial goals. We are proud to be an award-winning place to work!

What Sets Us Apart?

Along with a comprehensive benefit package, we offer:

• Competitive 401k
• Tuition reimbursement
• Flexible work options
• Volunteer opportunities
• Water Cooler Chats with executive teammates
• Clubs & Sports
• Food truck days

Why Join FourLeaf?

• Award-winning place to work
• Comprehensive benefit package
• Competitive 401k
• Tuition reimbursement
• Flexible work options
• Volunteer opportunities
• Water Cooler Chats with executive teammates
• Clubs & Sports
• Food truck days