Commercial Workout Officer

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

Four Leaf's ultimate goal is to provide the best‑in‑class member and employee experience, and it all begins with two things: hiring incredible people and giving them a great place to work.

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 act 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). 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. These strategies are recommended to the Asset Quality Committee (AQC) for approval. The formulation includes comprehensive financial analysis: 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 the borrower’s financial ability, intent, willingness, reason for default and ability to make payment.
• Manages enforcement of the credit union’s rights and remedies when a negotiated workout plan proves unfeasible or further default ensues. Collaborates with external counsel, court‑appointed receivers and others in enforcement proceedings to maximize recovery of non‑performing assets. Coordinates and establishes liquidation value of collateral with appraisers and other professionals.
• Coordinates with internal accounting 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, coordinating with the accounting department as needed.
• 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 & Negotiation

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

• Competitive 401(k)
• Flexible work options
• Volunteer opportunities
• Water Cooler Chats with executive teammates
• Clubs & Sports
• Food truck days
• …and more!

Four Leaf Federal Credit Union (Four Leaf) 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, Four Leaf is here to help you reach your financial goals.

We are proud to be an award‑winning place to work! Some of our recent recognitions include Certified Great Place to Work 2024‑2025, America’s Greatest Midsize Workplaces 2025, Quantum Workplace Employee Voice Award 2024, and Fortune’s Best Workplaces in Financial Services & Insurance 2024.

As a credit union, our vision is to enrich the lives of our members, employees, and communities. Since 2002, we have been an integral community partner through our charitable giving and community development programs in New York and beyond.

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.