Workout Officer III (US)

Work Location: Portland, Maine, United States of America Hours 40 Pay Details $115,440 - $173,160 USD TD is committed to providing fair and equitable compensation opportunities to all colleagues. 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. 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. As a candidate, you are encouraged to ask compensation related questions and have an open dialogue with your recruiter who can provide you more specific details for this role. Line Of Business Risk Management Job Description The Workout Officer III performs workout of assigned adversely rated loans. Meetings with all but the most complex accounts, referring only unusual questions to department management. Responsible for the collection of assigned delinquent accounts for one or more types of loans. Depth & Scope Communicates workout decisions to CustomersNegotiates specific terms and conditions for more complex agreements within parameters defined by workout decisions in coordination with appropriate internal staff and outside professionals as necessaryCoordinates with outside attorneys for more complex accounts, utilizing more in-depth knowledge of legal guidelines and industry practices to limit attorney timeReviews workout plans and recommendations with department managementProvides background information on accounts and supports recommendations with clear explanations of data, reasoning and analysisObtains support and approval of recommendations from department management or modifies them as neededProvides guidance and training to less experienced staffImplements liquidation plans with accounts as needed, converting assets into cash and closing accounts; seizes assets, forecloses real estate and coordinates third party asset salesUtilizes extensive industry contacts to determine interest in available assetsAttends auctions of seized property to make minimum bids on assets to protect Company's financial positionMeets 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 staff as necessary, including Customer financial staff, turnaround consultants, accounting firms, attorneys and othersExplains workout process to accounts and compiles necessary information to complete analysisEvaluates complex account information and prepares project plan documentation for account filePerforms in-depth financial analyses and collateral reviewsDetermines whether business plans and budgets are reasonable and attainableReviews liquidation plans if applicableCoordinates with line management and other appropriate internal areas as necessaryDevelops complete workout plans which may include unusual specialized financing arrangementsNegotiates with borrowers, principals, debtor Company management, attorneys, accountants, consultants, and others to secure appropriate repayment on loans for more complex agreements within parameters defined by workout decisions agreed upon with department management with limited need for outside attorney time because of in-depth knowledge of industry practices and legal requirementsCoordinates documentation preparation, reviews documents and finalizes workout agreements with accountsPerforms all of the functions of a Workout Officer I and II, but handles the most complex deals and has extensive knowledge of workout methods, procedures and techniquesPerforms workout of assigned adversely rated loans, meeting with the most complex accounts independently, while keeping department management informedResponds promptly to new and unusual business situationsWorks independently and autonomously Education & Experience Bachelor's degree or progressive work experience in addition to experience below5-7 Years of related experienceStrong credit analysis skillsAbility to read, understand and interpret complex financial statementsStrong understanding of a wide variety of complex and unusual financing arrangementsIn-depth understanding of workout strategies and techniquesStrong negotiation skillsStrong Communication skills, both verbal and writtenPC skills Customer Accountabilities Understands and supports the Bank's Customer Service StrategyConsiders the impact of decisions on the well-being of TD, its Customers and stakeholdersProvides the highest level of Customer service when dealing with internal partners, vendors or our Customers - WOW at every opportunityModels quality service delivery at every interactionLeads and contributes to the ongoing improvement of the partner / Customer experience Employee/Team Accountabilities Be engaged in advancing and sustaining a unique, inclusive culture that reflects TD's diversity agenda, and create an extraordinary employee experienceParticipates fully as a member of the team and contribute to a positive work environmentMay provide leadership, training, and guidance to other team membersEnsures ongoing communication with the team on the status / progress of projects and issues / points of interestActively shares information and knowledge, and proactively learn from the expertise of others Physical Requirements Never: 0%; Occasional: 1-33%; Frequent: 34-66%; Continuous: 67-100% Domestic Travel – OccasionalInternational Travel – NeverPerforming sedentary work – ContinuousPerforming multiple tasks – ContinuousOperating standard office equipment - ContinuousResponding quickly to sounds – OccasionalSitting – ContinuousStanding – OccasionalWalking – OccasionalMoving safely in confined spaces – OccasionalLifting/Carrying (under 25 lbs.) – OccasionalLifting/Carrying (over 25 lbs.) – NeverSquatting – OccasionalBending – OccasionalKneeling – NeverCrawling – NeverClimbing – NeverReaching overhead – NeverReaching forward – OccasionalPushing – NeverPulling – NeverTwisting – NeverConcentrating for long periods of time – ContinuousApplying common sense to deal with problems involving standardized situations – ContinuousReading, writing and comprehending instructions – ContinuousAdding, subtracting, multiplying and dividing – Continuous The above statements are intended to describe the general nature and level of work being performed by people assigned to this job. They are not intended to be an exhaustive list of all responsibilities, duties and skills required. The listed or specified responsibilities & duties are considered essential functions for ADA purposes. Who We Are TD is one of the world's leading global financial institutions and is the fifth largest bank in North America by branches/stores. Every day, we strive to make every interaction, product, and experience remarkably human and refreshingly simple for over 27 million households and businesses in Canada, the United States and around the world. More than 95,000 TD colleagues bring their skills, talent, and creativity to foster deeper relationships, ensure disciplined execution, and build a simpler, faster banking experience. TD is deeply committed to being a leader in client experience, that is why we believe that all colleagues, no matter where they work, are client facing. Together, we are reimagining what banking can be for our clients, colleagues and communities. Our Total Rewards Package Our Total Rewards package reflects the investments we make in our colleagues to help them and their families achieve their financial, physical and mental well-being goals. Total Rewards at TD includes base salary and variable compensation/incentive awards (e.g., eligibility for cash and/or equity incentive awards, generally through participation in an incentive plan) and several other key plans such as health and well-being benefits, savings and retirement programs, paid time off (including Vacation PTO, Flex PTO, and Holiday PTO), banking benefits and discounts, career development, and reward and recognition. Learn more Additional Information We’re delighted that you’re considering building a career with TD. Through regular development conversations, training programs, and a competitive benefits plan, we’re committed to providing the support our colleagues need to thrive both at work and at home. Colleague Development If you’re interested in a specific career path or are looking to build certain skills, we want to help you succeed. You’ll have regular career, development, and performance conversations with your manager, as well as access to an online learning platform and a variety of mentoring programs to help you unlock future opportunities. If you’re passionate about helping clients and building deep, lasting relationships, TD offers diverse career paths where you can grow your expertise and make a meaningful impact. We're committed to your success and foster a respectful workplace where diverse perspectives are valued, everyone has fair opportunities to grow, and you can unlock your full potential to achieve your career goals. Here at TD, we hire and develop the best. Training & Onboarding We will provide training and onboarding sessions to ensure that you’ve got everything you need to succeed in your new role. Interview Process We’ll reach out to candidates of interest to schedule an interview. We do our best to communicate outcomes to all applicants by email or phone call. Accommodation TD Bank is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, disability, status as a protected veteran or any other characteristic protected under applicable federal, state, or local law. If you are an applicant with a disability and need accommodations to complete the application process, please email TD Bank US Workplace Accommodations Program at USWAPTDO@td.com. Include your full name, best way to reach you and the accommodation needed to assist you with the applicant process.