Commercial Workout Officer

Hybrid 899 899 S Oyster Bay Rd Bethpage, NY 11714, USA

Responsible for the effective management of distressed complex (CRE) and (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 conveying 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.

• Effectively manages an assigned portfolio of distressed commercial real estate loans (CRE) and Commercial and Industrial loans (C&I). Requires close collaboration with commercial lending to develop feasible, timely workout strategies, restructuring credit and repayment terms, better securing collateral or establishing recourse to other borrower assets. Strategies will be recommended to the Asset Quality Committee (AQC) for approval. Includes comprehensive financial analysis such as financial spreading, covenant monitoring, risk identification and mitigants, cost/benefit analysis of remediation options, reassessment of risk rating and loan loss reserve, and consideration of borrower’s financial ability, intent, willingness, reason for default and ability to make payment.
• Manages 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 recovery of nonperforming assets. Coordinates liquidation value of collateral with appraisers and professionals.
• Coordinates with internal accounting department and external legal counsel 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). Manages coordination with the accounting department regarding billing.
• Responsible for all commercial real estate delinquency reporting (Watch Asset Report) for the Asset Quality Committee (AQC) and the Board on a quarterly basis.

• Bachelor’s degree in business administration/management (MBA preferred) and 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, and Negotiation

The expected salary for this position is $ to $ annually. Four Leaf Federal Credit Union provides a range of benefits with various enrollment periods, including medical, dental, and vision coverage, a 401K plan with employer match, reimbursement programs, wellness programs, and an annual performance-based bonus.

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

Equal Opportunity Employer. This employer is required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights notice from the Department of Labor.