Candidates – M3 Placement & Partnership

Commercial Workout Officer

Job Title
Commercial Workout Officer
Job ID
Syracuse,  NY 13204
Other Location

Job Title: Commercial Workout Officer

Location: Syracuse NY or Utica NY

Summary: Commercial Workout Officer restructures problem loans for commercial and residential clients. Negotiates with borrowers to better secure collateral and/or assets of the borrower. Being a Commercial Workout Officer works with loans of moderate size and complexity. Additionally, Commercial Workout Officer typically reports to a head of a unit/department. The Commercial Workout Officer gains exposure to some of the complex tasks within the job function. To be a Commercial Workout Officer typically requires 2 to 4 years of related experience.

Job Duties:

  • On problem credits, works collaborates with borrowers to review and restructure credit and repayment terms, secure collateral, or otherwise establish recourse to other borrower assets to prevent charge-off.
  • Initiates calls to borrower to discuss collection payment. Discuss the problem with the borrower and options available to correct the problem.
  • Manages the litigation process in coordination with inside and outside counsel. Works closely with various internal departments.
  • Updates status and plans of action for commercial workout accounts. Include status, plan of action, and time frame for follow-up purposes.
  • Directs and manages the 90+ retail credits and oversees foreclosure actions.
  • Review of current information, collateral, and status to determine likelihood of repayment. Determines alternatives or exit strategy.
  • Completes proposal of work-out strategy for bank approval. Provide supporting documentation. Prepares letter of intent listing terms and conditions of workout.

Required Experience:

  • Four-year college degree, plus 2-4 years related experience and/or training, or equivalent combination of education and experience.
  • Strong analytical skills. Ability to read, analyze, and understand financial reports, and legal documents.
  • Exceptional customer service skills. Ability to respond to complex or difficult inquiries or complaints from customers, regulatory agencies, or members of the business community.
  • Ability to calculate figures and amounts such as discounts, interest, commissions, proportions, and percentages.
  • Intermediate proficiency with accounting, Excel, and Word
  • Self-motivated and can work independently
  • Excellent verbal and written communication skills

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