Credit Workout Officer III - SBA focus

Job Description

The Credit Workout Officer III is responsible for recommending the best loss mitigation strategy for Northwest, improving the processes within Special Assets while also performing a variety of duties including meeting with borrowers and evaluating management teams and business plans to determine whether to retain or exit a credit.

Essential Functions:

• Prepare the appropriate loan recaps

• Conduct annual reviews and assign risk ratings

• Recommend proper loan structure

• Identify credit strengths, weaknesses and mitigating factors

• Engage counsel when appropriate on behalf of Northwest

• Discuss grades and workout procedures

• Issue demand letters

• Monitor collection activity and bankruptcies

• Obtain judgments

• Establish workout plans on behalf of Northwest

• Locate/inspect collateral as necessary

• Partner with loan officers to consult on troubled credits

• Order appraisals

• Initiate charge-offs / write downs if applicable

• Work with minimal direct supervision and use independent judgment and decision making

• Prepare management reports as required

• Responsible for all compliance and audit-related matters in area of responsibility

• Participate in special projects as required

• Remain current on all bank rules and regulations relating to Credit Administration

• Coordinate foreclosures with counsel

• Recommend improvements to procedures

• Build relationships with internal customers

• Minimize departmental non-payroll costs

• Monitor, develop and suggest revisions to workflows and procedures as necessary to enhance efficiency and minimize expenses

• Manage workout process for SBA 7 & 504 Loans

• Participate in quarterly SAG Watch Calls and Preparation of Crit Forms.

• Ensure compliance with Northwest's policies and procedures, and Federal/State regulations

• Navigate Microsoft Office Software, computer applications, and software specific to the department to maximize technology tools and gain efficiency

• Work as part of a team

Education and Experience preferred

• Bachelor's degree or related experience

• 5-6 years of experience in an area related to commercial lending including special assets, loan review, credit administration and / or lending

• Ability to analyze data, along with understanding bankruptcy, foreclosures, and repossession process

• Familiarity with & knowledge of the SBA Standard Operating Procedures (SOP)

This position will be performed onsite Mon - Thurs with Friday an optional work from home day.

The pay range for this position is generally $70,000 - $105,000 annually. Actual pay is based on various factors including but not limited to the successful candidate's experience, skills, and knowledge. Additional bonus earning opportunities and benefits are also available.

#LI-EK1

Northwest is an equal opportunity employer. We are committed to creating an inclusive environment for all employees.