Workout Officer

Avidia Bank

Equal Employment Opportunity/M/F/disability/protected veteran status

Description:

Position Overview:

As part of the Workout team, the officer will reduce the bank's exposure to loss in consumer/residential loans, commercial loans and OREO properties. Coordinates and executes action plans and provides liaison between management, loan officers, collection personnel and loan operations and borrowers.

Primary Responsibilities:

Performs any functions necessary, within scope of authority and expertise, to provide the highest level of service and responsiveness to customers:

• Directly or in conjunction with the Workout Manager, manage delinquent and classified loans by borrower and third party contact to:
• Analyze financial statements, loan documents and collateral to ascertain best collection route
• Review, analyze, and correct any structural or documentation deficiencies
• Monitor and or improve the Bank's collateral position or supervise liquidation of the collateral when necessary, in an effort to protect the bank's interests
• Restructure problem loans by implementing an amortization plan based on the borrower's realistic ability to repay
• Identify alternate financing or credit enhancement options to improve the bank's risk
• Make recommendations to management as to risk ratings, accrual of interest, impairment, identification of TDR's and charge-offs
• Facilitate collection of PMI and Forced Placed insurance claims
• Execute FNMA collection and modification procedures
• Create and/or maintain files for consumer/residential and commercial loan workout customers
• Active management or assistance in management Other Real Estate Owned (OREO) properties owned by the Bank or its affiliate including:
• Create and maintain OREO files
• Coordinate payment and tracking of OREO bills
• Interaction with attorneys and other consultants/vendors as needed to minimize loss / maximize recovery on loans and OREO
• Works closely with internal partners in Credit Administration, Collections, Commercial Lending, Loan Operations, and Finance to ensure efficient administration of assets in workout and OREO process.
• Provides reporting and updates to senior management regarding the status of workout credits as necessary.

Other Responsibilities:

Perform related and unrelated duties as may be required.

Requirements:

• Bachelor's degree in business, finance or accounting, or an equivalent combination of work experience and industry specific workout and/or credit underwriting training.
• Five plus years of banking experience including lending, collections, credit analysis or underwriting.
• Minimum two years of banking experience within commercial, consumer/residential, credit/underwriting, or collections/workout environment.
• Understanding of commercial or residential collections and workout, including methods, content and frequency of contact, property and collateral valuations, troubled debt restructures, and impaired and non-accrual loans.
• General knowledge of secured and unsecured lending practices, documentation and legal requirements.
• Strong analytical and negotiation skills. Excellent written and verbal communication skills.
• Ability to prioritize tasks within defined responsibilities and apply bank and department policies and procedures.
• Experience utilizing banking core processing/host systems for maintenance.
• Proficiency with Microsoft Office (Word, Excel, Outlook).

Avidia Bank is an Equal Opportunity Employer/Veterans/Disabled

Member FDIC/DIF

PM21

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