Credit Workout Officer II
Northwest Bank, Columbus, OH, United States
Job Description
The Credit Workout Officer II is responsible for performing a variety of duties including meeting with borrowers, evaluating management teams, and business plans to determine whether to retain or exit credit.
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 with regards to workout plan
Discuss grades and workout procedures
Issue demands letters
Monitor collection activity, and bankruptcies
Obtain judgments
Establish Workout plans
Report agreed payment terms and plans
Locate collateral / inspection
Coordinate foreclosures
Partner with loan officers
Prepare for litigation
Coordinate sale of acquired assets / with appropriate staff, liquidation of assets and sales, and legal plan action with counsel
Order appraisals
Initiate Charge-offs / write downs
Prepare reviews on workout loans, and quarterly workout updates
Familiarity with & knowledge of the SBA Standard Operating Procedures (SOP).
Liquidation of SBA 7 & 504 Loans
Participate in quarterly SAG Watch Calls and preparation of CRIT Forms
Ensure compliance with Northwest’s policies and procedures, and Federal/State regulations
Navigate Microsoft Office Software, computer applications, and software specific to the department to maximize technology tools and gain efficiency
Work as part of a team
Work with on-site equipment
Education and Experience preferred
Bachelor’s degree in business, accounting, finance or related
3-5 years of experience related to commercial lending including special assets, loan review, credit and / or lending
Ability to analyze data related to bankruptcy, foreclosure, and repossession
This position will be performed onsite Monday - Thursday with Friday an option work from home day.
Northwest is an equal opportunity employer. We are committed to creating an inclusive environment for all employees.
A t Northwest, we’re here for what's next. Whether we're finding opportunities for families, businesses and communities or opening doors for our team, we share a passion for helping the people around us succeed. And we know that in order to provide the highest level of care, we need to understand unique experiences and perspectives. That's why, whether you're interested in a corporate role or something customer-facing, your talent and voice matter. Here, you belong. Working at Northwest, you'll find that we recognize our employees for the important work they do through competitive compensation and benefits, professional development opportunities and by regularly celebrating wins along the way. So, take a look at the opportunities here. And join us as we move into the future making a difference for the people we serve.
The Credit Workout Officer II is responsible for performing a variety of duties including meeting with borrowers, evaluating management teams, and business plans to determine whether to retain or exit credit.
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 with regards to workout plan
Discuss grades and workout procedures
Issue demands letters
Monitor collection activity, and bankruptcies
Obtain judgments
Establish Workout plans
Report agreed payment terms and plans
Locate collateral / inspection
Coordinate foreclosures
Partner with loan officers
Prepare for litigation
Coordinate sale of acquired assets / with appropriate staff, liquidation of assets and sales, and legal plan action with counsel
Order appraisals
Initiate Charge-offs / write downs
Prepare reviews on workout loans, and quarterly workout updates
Familiarity with & knowledge of the SBA Standard Operating Procedures (SOP).
Liquidation of SBA 7 & 504 Loans
Participate in quarterly SAG Watch Calls and preparation of CRIT Forms
Ensure compliance with Northwest’s policies and procedures, and Federal/State regulations
Navigate Microsoft Office Software, computer applications, and software specific to the department to maximize technology tools and gain efficiency
Work as part of a team
Work with on-site equipment
Education and Experience preferred
Bachelor’s degree in business, accounting, finance or related
3-5 years of experience related to commercial lending including special assets, loan review, credit and / or lending
Ability to analyze data related to bankruptcy, foreclosure, and repossession
This position will be performed onsite Monday - Thursday with Friday an option work from home day.
Northwest is an equal opportunity employer. We are committed to creating an inclusive environment for all employees.
A t Northwest, we’re here for what's next. Whether we're finding opportunities for families, businesses and communities or opening doors for our team, we share a passion for helping the people around us succeed. And we know that in order to provide the highest level of care, we need to understand unique experiences and perspectives. That's why, whether you're interested in a corporate role or something customer-facing, your talent and voice matter. Here, you belong. Working at Northwest, you'll find that we recognize our employees for the important work they do through competitive compensation and benefits, professional development opportunities and by regularly celebrating wins along the way. So, take a look at the opportunities here. And join us as we move into the future making a difference for the people we serve.