Loan Workout Officer/Vice President

General Statement of Duties:

The Vice President/Loan Workout Officer is responsible for managing loan workout for the bank's commercial, multi-family and mixed-use portfolios. The Loan Workout Officer will negotiate with debtors or their representatives to secure repayment agreements and monitor adherence to the terms of repayment agreements. Provides technical advice and assistance to lenders regarding the early identification and evaluation of deteriorating loan situations to minimize losses and maximize recoveries. Presents complex credits and recommends action plans to Senior Management. Maintains current knowledge of all laws, regulations, and rulings.

Major Duties and Responsibilities:

• Direct management of Loan Workout.

• Provide guidance in managing commercial, multi-family and mixed-use portfolios by reviewing proposed courses of action, facts, and considerations.

• Maintain a workout portfolio of litigation matters that may involve loans from troubled debt.

• Restructure problem loans by negotiating terms and conditions with borrowers and evaluating borrower/sponsor financial profile, property (portfolio) cash flow and market conditions.

• Seek alternative means of loan repayment through foreclosure on real property or the liquidation of other collateral, when a review of the relevant facts and circumstances, including a review of the loan documents and the nature and value of the collateral, indicates that initiating and pursuing such legal remedies will likely result in a greater recovery by the Bank.

• Reduce the overall degree of risk associated with Special Assets credits.

• Guide counsel in collection strategy to maximize recovery and remain in close contact with counsel as matter progresses.

• Analyze financial statements, loan documents, and collateral to ascertain the best collection route.

• Make recommendations to senior management for approval of potential modifications or restructuring.

• Review, analyze and, if feasible, correct any structural or documentation deficiencies and monitor the bank's collateral position or liquidation of the collateral by, for example, obtaining and filing corrected mortgages, UCCs (Uniform Commercial Codes) or other loan documents or filing unfiled springing mortgages.

• Has frequent interaction with senior management regarding the status of problem loans.

• Visit individual sites, when appropriate, to evaluate physical collateral.

• Coordinate closing of modifications and troubled debt restructurings with counsel, borrower and borrower's counsel.

• Monitor Delinquency Reports to identify potential problem loans.

• Mange and prepare reports for senior management.

• Ensure compliance with all regulations, policies and procedures. Perform additional accountabilities as required.

Minimum Qualifications:

• Bachelor's degree in business management, accounting, finance or real estate or equivalent experience.

• Minimum of eight years experience in Commercial, Multi-family and Mixed-Use lending and loan servicing activities.

Knowledge, Skills, and Abilities:

• Commercial, Multi-family and Mixed-use loan experience. CRE expertise is a plus.

• Prior experience with large, syndicated credits.

• Experience across a broad spectrum of industries.

• Expert knowledge of specialized lending collections including managing litigation.

• Advanced knowledge of commercial lending, loan services and credit policy procedures.

• Advanced knowledge of loan collections and workout, loan processing/documentation and credit analysis.

• Excellent problem-solving, negotiating, and decision-making skills.

• Excellent written and verbal communication skills.

• Ability to organize, prioritize and manage multiple projects simultaneously.

• Proficient computer skills using Microsoft Word, Excel and Outlook.

Pay Range: $135,000 - $160,000

Hours: 37.50

This is an exempt position.

The actual compensation will be based on qualifications, experience and other factors permitted by law.

EOE, including Disabled and Veterans

Other details

• Pay Type Salary

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• Uniondale, NY, USA