Job Description
The Senior Credit Workout Officer IV is responsible for a variety of duties including meeting with borrowers and evaluating management teams and business plans to determine whether or not to retain or exit credit, while negotiating with professionals to establish a workout or exit plan.
Essential Functions
• Ensure integrity of loan documentation
• Review loan documents to confirm perfection of collateral
• Analyze financial statements
• Identify and resolve problems / issues
• Record all agreements and conversations
• Prepare correspondence and documentation for workout/exit plan
• Discuss credit grades and workout procedures
• Issue demand letters
• Monitor collection activity and bankruptcies
• Obtain judgments
• Establish workout or exit plans
• Report agreed payment terms and plans
• Locate and inspect collateral
• Coordinate foreclosures
• Partner with loan officers
• Prepare for litigation
• Coordinate liquidation and sale of assets with appropriate staff and counsel
• Order appraisals
• Initiate charge offs and write downs
• Negotiate with professionals to establish a workout or exit plan
• Interact with other financial institutions and examiners
• Recommend the best loss mitigation strategy
• Work with minimal direct supervision and use independent judgment and decision making
• Prepare reviews and quarterly reports on loan portfolio
• Recommend improvements to workout policies and procedures
• Build relationships with internal customers
• Maximize available technology tools
• Minimize departmental costs
Additional Essential Functions
• Ensure compliance with Northwest’s policies and procedures, and Federal/State regulations
• Navigate Microsoft Office Software, computer applications, and software specific to the department in order to maximize technology tools and gain efficiency
• Work as part of a team
• Work with on-site equipment
Safety and Health for those without supervisory duties
• Abide by the rules of the safety and loss prevention program
• Perform work tasks in a safe manner
• Report any and all injuries to supervisor
• Know what to do in case of an emergency
QUALIFICATIONS
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Education
Bachelor's Degree business / accounting or finance degree or related subject matter
Work Experience
8 - 12 years of experience in an area related to commercial lending including special assets, loan review, credit and / or lending
General Employee Knowledge, Skills, and Abilities
• Ability to establish effective working relationships among team members and participate in solving problems and making decisions
• Ability to present and express ideas and information clearly and concisely in a manner appropriate to the audience, whether oral or written
• Ability to actively listen to what others are saying to achieve understanding, sharing information with others and facilitating the open exchange of ideas and information
• Ability to establish courses of action for self to accomplish specific goals, develop and use tracking systems for monitoring own work progress, and effectively use resources such as time and information
• Ability to make right decisions based on perceptive and analytical processes, practicing good judgment in gray areas
Additional Knowledge, Skills and Abilities
• Team player
• Good organizational skills
• Ability to analyze data, bankruptcy, foreclosures, and repossession
Northwest is an equal opportunity employer. We are committed to creating an inclusive environment for all employees.
Skills Required
- Bachelor’s degree in business, accounting, finance, or a related subject
- 8–12 years of experience related to commercial lending, special assets, loan review, credit, or lending
- Ability to analyze financial data, bankruptcy proceedings, foreclosures, and repossession
- Ability to analyze financial statements and evaluate borrowers, management teams, business plans, and collateral
- Ability to establish effective working relationships, solve problems, and make decisions
- Clear and concise written and verbal communication skills
- Active listening and information-sharing skills
- Strong organization and independent judgment
- Ability to comply with company policies and federal and state regulations
- Ability to use Microsoft Office, computer applications, and department-specific software
- Ability to work as part of a team and with minimal direct supervision
What We Do
Northwest Bank is a privately held community bank focused on serving the specific needs of businesses in Washington, Oregon, Idaho and Utah. Our experienced bankers deliver customized financial solutions and exceptional customer service. We do that by getting to know you, your business and your aspirations, first. Then we create a plan that will work, and stay with you every step of the way. We see our relationship with you as a partnership, the way banking should be. Trust matters when picking your financial partner. Northwest Bank is rated as one of the best capitalized banks in the nation. We have earned 5-Star “Superior” ratings from both BauerFinancial® and Bankrate.com’s Safe and Sound® ratings service. Founded in 2008, we have offices in Boise, Idaho; Portland, Oregon; Coeur d'Alene, Idaho; Seattle, Washington; and Salt Lake City, Utah metropolitan markets. Northwest Bank: Experienced Bankers. Exceptional Service. Creative Solutions. Member FDIC Equal Housing Lender
