Workout Officer

3 weeks ago

Newton MA USA, United States Avidia Bank Full time
Job Title: Workout Officer

Avidia Bank is seeking a skilled Workout Officer to join our team. As a Workout Officer, you will play a critical role in reducing the bank's exposure to loss in consumer/residential loans, commercial loans, and OREO properties.

Key Responsibilities:
  • Manage delinquent and classified loans by borrower and third-party contact to analyze financial statements, loan documents, and collateral to ascertain the best collection route.
  • Review, analyze, and correct any structural or documentation deficiencies 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 of Other Real Estate Owned (OREO) properties owned by the Bank or its affiliate.
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.

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