Northwest Bank
Senior Credit Workout Officer - SBA Specialist
Northwest Bank, Warren, Pennsylvania, us, 16367
Job Description
The Senior Credit Workout Officer is tasked with identifying and implementing effective loss mitigation strategies while enhancing processes within Special Assets. Your role will include expert evaluations of borrower management teams and business plans to make informed decisions on credit retention or exit.
Essential Functions:
Prepare detailed loan recaps to support decision-making.
Conduct thorough annual reviews and assign accurate risk ratings.
Advise on optimal loan structures based on credit assessments.
Identify credit strengths, weaknesses, and mitigating factors to inform strategy.
Engage legal counsel as needed to protect Northwest's interests.
Facilitate discussions on grades and workout procedures with stakeholders.
Issue demand letters to prompt necessary actions.
Monitor collection activities and manage bankruptcy processes effectively.
Obtain judgments to recover outstanding debts.
Establish and manage workout plans on behalf of Northwest.
Locate and inspect collateral to assess its value and condition.
Collaborate with loan officers to strategize on troubled credits.
Order appraisals to evaluate collateral worth.
Initiate charge-offs or write-downs when appropriate.
Work independently while demonstrating sound judgment and decision-making skills.
Prepare management reports as required to keep leadership informed.
Ensure compliance with audit-related matters within your area of responsibility.
Participate in special projects to improve overall departmental performance.
Keep informed on all bank policies and regulations related to Credit Administration.
Coordinate foreclosure processes with legal counsel when necessary.
Recommend procedural improvements for enhanced efficiency.
Build strong relationships with internal teams to foster collaboration.
Proactively seek to minimize departmental non-payroll costs.
Review and suggest updates to workflows and procedures to enhance operational efficiency and reduce expenses.
Oversee the workout process for SBA 7 & 504 Loans.
Engage in quarterly SAG Watch Calls and prepare Crit Forms as needed.
Ensure adherence to Northwest's policies and comply with all Federal and State regulations.
Utilize Microsoft Office Software and department-specific applications to maximize efficiency through technology.
Demonstrate teamwork and collaboration with colleagues.
Education and Experience preferred: Bachelor's degree or equivalent experience.
5-6 years of experience in commercial lending, encompassing special assets, loan review, and credit administration.
Proficiency in data analysis, encompassing bankruptcy, foreclosures, and repossession processes.
Familiarity with SBA Standard Operating Procedures (SOP) is highly desired.
This position will be performed onsite Monday through Thursday, with Friday being an optional work-from-home day. The pay range for this position is typically $70,000 - $105,000 annually. Actual pay will depend on factors including the successful candidate's experience, skills, and knowledge. Additional bonus earning opportunities and benefits are also available. Northwest is an equal opportunity employer, committed to fostering an inclusive environment for all employees.
Conduct thorough annual reviews and assign accurate risk ratings.
Advise on optimal loan structures based on credit assessments.
Identify credit strengths, weaknesses, and mitigating factors to inform strategy.
Engage legal counsel as needed to protect Northwest's interests.
Facilitate discussions on grades and workout procedures with stakeholders.
Issue demand letters to prompt necessary actions.
Monitor collection activities and manage bankruptcy processes effectively.
Obtain judgments to recover outstanding debts.
Establish and manage workout plans on behalf of Northwest.
Locate and inspect collateral to assess its value and condition.
Collaborate with loan officers to strategize on troubled credits.
Order appraisals to evaluate collateral worth.
Initiate charge-offs or write-downs when appropriate.
Work independently while demonstrating sound judgment and decision-making skills.
Prepare management reports as required to keep leadership informed.
Ensure compliance with audit-related matters within your area of responsibility.
Participate in special projects to improve overall departmental performance.
Keep informed on all bank policies and regulations related to Credit Administration.
Coordinate foreclosure processes with legal counsel when necessary.
Recommend procedural improvements for enhanced efficiency.
Build strong relationships with internal teams to foster collaboration.
Proactively seek to minimize departmental non-payroll costs.
Review and suggest updates to workflows and procedures to enhance operational efficiency and reduce expenses.
Oversee the workout process for SBA 7 & 504 Loans.
Engage in quarterly SAG Watch Calls and prepare Crit Forms as needed.
Ensure adherence to Northwest's policies and comply with all Federal and State regulations.
Utilize Microsoft Office Software and department-specific applications to maximize efficiency through technology.
Demonstrate teamwork and collaboration with colleagues.
Education and Experience preferred: Bachelor's degree or equivalent experience.
5-6 years of experience in commercial lending, encompassing special assets, loan review, and credit administration.
Proficiency in data analysis, encompassing bankruptcy, foreclosures, and repossession processes.
Familiarity with SBA Standard Operating Procedures (SOP) is highly desired.
This position will be performed onsite Monday through Thursday, with Friday being an optional work-from-home day. The pay range for this position is typically $70,000 - $105,000 annually. Actual pay will depend on factors including the successful candidate's experience, skills, and knowledge. Additional bonus earning opportunities and benefits are also available. Northwest is an equal opportunity employer, committed to fostering an inclusive environment for all employees.