Workout Officer II

Workout Officer II Work Location

Greenville, South Carolina, United States of America

40

$91,000 - $136,240 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  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.

Risk Management

This group manages assigned adversely rated loans within the Small Business delinquency pool. The primary purpose/focus of the group is to modify, litigate or otherwise resolve relationships to maximize bank recovery. The Workout Officer II performs workout of assigned adversely rated loans, meeting with assigned larger, more complex accounts under limited supervision of more experienced staff or management. The primary purpose/focus of this position is to workout/litigate and strategize downgraded credits to maximize bank recovery including analyzing documents related to servicing a Small Business Administration loan under Standard Operating Procedures.

• Communicates workout decisions to customers.
• Negotiates specific terms and conditions for complex agreements within parameters defined by workout decisions, coordinating with internal staff and outside professionals as necessary.
• Coordinates with outside attorneys for complex accounts, using in‑depth knowledge of legal guidelines and industry practices to limit attorney time.
• Prepares, reviews, and finalizes workout agreements with assist from experienced staff in unusual situations.
• Monitors status of assigned accounts, ensuring compliance with workout agreements; reviews financial statements, meets with customers, checks collateral, and takes appropriate action.
• Reviews workout plans and recommendations with department management.
• Provides background information on accounts, supporting recommendations with data, reasoning, and analysis.
• Obtains support and approval of recommendations from department management or modifies them as needed.
• Implements liquidation plans, converting assets into cash and closing accounts; seizes assets, forecloses real estate, and coordinates third‑party asset sales.
• Utilizes industry contacts to gauge interest in available assets.
• Attends auctions of seized property, making minimum bids to protect the company’s financial position.
• Performs financial analyses and collateral reviews, evaluating budget feasibility, consulting with staff to recommend workout terms that recover principal, interest, and collection costs, subject to management approval.
• Gather financial, collateral, budget, business plan, and other general business information in coordination with commercial lenders, attorneys, accountants, and consultants.
• Explains workout process to accounts and compiles necessary information to complete analysis.
• Evaluates account information and prepares project plan documentation for account files.
• Negotiates with borrowers and related parties to secure appropriate repayment on loans for complex agreements within parameters defined by workout decisions, limiting external attorney time.
• Handles more complex deals and maintains in‑depth knowledge of workout methods, procedures, and techniques.
• Works independently.

• Associate’s degree
• 3‑5 years of related experience
• Strong credit‑analysis skills
• Ability to read, understand, and interpret complex financial statements
• Familiarity with a variety of commercial loans
• In‑depth understanding of workout strategies and techniques
• Strong negotiation skills
• Strong verbal and written communication skills
• PC skills

• Commercial/Small Business Lending experience – preferred candidates have…