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