Director - Senior Credit Workout Officer (US)

About the role

This role is responsible to preserve the loan principal, gather interest and prevent the loan from being charged off. The Senior Credit Workout Officer meets with the most complex accounts, referring only unusual questions to department management. This role performs and reviews complex financial analyses and collateral reviews, evaluates budget feasibility, develops workout terms to recover principal, interest and collection costs including unusual specialized financing. Communicates with accounts to finalize agreements.

Responsibilities

• Manages and restructures and/or collects a segment of the company's adversely-graded loans, working closely with lending and credit staff, as well as other financial institutions to better secure collateral, equity or other assets of the borrower.
• Oversees Commercial Credit Activities for Non-Pass Credits in the US Specialty Bank that are advanced in complexity, multi-faceted and diverse.
• Directly manages highly complex workouts from the Specialty Bank that require transfer to Workout.
• Provides leadership, support and guidance to the Credit Team and assists with more complex deals, including meeting with customers in special situations.
• Acts in an advisory and referral role to other Workout Officers, Credit Officers, RVPs, Lenders, Portfolio Managers and Analysts in matters of compliance, regulation and policy.
• Recommends changes in underwriting and policies, including industry reviews.
• Protects the assets of the bank through the proper execution and administration of operational and risk management policies.
• Resolves escalated issues and problems by conferring with senior management, staff, other internal departments, outside contacts, and customers as necessary.
• Implements liquidation plans with accounts as needed, converting assets into cash and closing accounts; seizes assets, forecloses real estate and coordinates third party asset sales.
• Utilizes extensive industry contacts to determine interest in available assets and may attend auctions of seized property to make minimum bids on assets to protect company's financial position.
• Manages unit staff, assigning, prioritizing and monitoring work; provides leadership, coaching, counseling and guidance to staff; assigns tasks and account responsibilities based upon complexity of accounts and experience level of staff.
• Develops, assigns and monitors plans to ensure completion of goals and objectives and meeting deadlines.
• Oversees and manages meetings with accounts and gathers financial, collateral, budget, business plan and other general business information in close coordination with commercial lenders and other appropriate internal and outside personnel.
• Answers questions based on proven in-depth knowledge of industry and company practices and procedures.
• Manages account information and prepares project plan documentation for account files.
• Reviews in-depth financial analyses and collateral reviews performed by staff.
• Determines whether business plans and budgets are reasonable and attainable.
• Reviews liquidation plans if applicable.
• Coordinates with credit department and other appropriate internal areas as necessary.
• Develops and manages complete workout plans which may include unusual specialized financing arrangements.
• Negotiates with borrowers, principals, debtor company management, attorneys, accountants, consultants and others to secure appropriate repayment on loans for complex agreements within parameters defined by workout decisions agreed upon with department management.
• Provides technical guidance and assists staff with most complex aspects of work as necessary.
• Reinforces the organization's Credit Culture and Professional Development.

Requirements

• Bachelor's degree required.
• 15+ years' experience as a Credit Officer/Workout Officer with 5+ years of complex credit experience.
• Proven project management skills, with superior ability to coordinate with other departments and outside resources to accomplish goals in large scale efforts.
• Excellent communication, facilitation, and relationship-building skills, with an ability to provide detailed explanation and interpretation of factual and conceptual information to senior levels within the organization.
• Strong attention to detail and an ability to manage multiple priorities, assign appropriate resources, ensure quality, professional work, and maintain high standards.

Pay

$200,000 – $280,000 USD. The base pay actually offered may vary based upon the candidate's skills and experience, job-related knowledge, geographic location, and other specific business and organizational needs. Growth opportunities and skill development are defining features of the colleague experience at TD. Our compensation policies and practices have been designed to allow colleagues to progress through the salary range over time as they progress in their role.