Carver Federal Savings Bank
Job Title:
Commercial Loan Workout Officer Department:
Credit Administration / Special Assets Reports To:
Chief Credit Officer Position Summary
The Commercial Loan Workout Officer is responsible for the management, resolution, and recovery of the bank’s adversely classified and non-performing commercial loan portfolio. This position plays a key role in protecting the bank’s asset quality by developing and executing effective workout, restructuring, or liquidation strategies for troubled commercial credits. The ideal candidate will work closely with borrowers, lending officers, legal counsel, and senior management to minimize losses, maximize recoveries, and ensure compliance with bank policies and regulatory standards. Essential Duties and Responsibilities
Commercial Loan Workout and Restructuring
Manage a portfolio of criticized, classified, and non-performing commercial loans, including commercial real estate (CRE), construction, and commercial and industrial (C&I) loans. Develop and implement workout, restructuring, forbearance, or settlement strategies consistent with the bank’s credit policies and regulatory requirements. Conduct detailed borrower and guarantor financial analyses to determine repayment capacity and appropriate workout structure. Negotiate with borrowers to establish feasible repayment arrangements or collateral resolutions that protect the bank’s interests. Prepare detailed credit action plans and recommendations for approval by senior management and the Loan Committee. Collateral and Recovery Management
Oversee collateral evaluation and monitoring, including obtaining updated appraisals, inspections, and environmental reports as appropriate. Coordinate and manage collateral liquidation efforts, including foreclosure, deed in lieu, receivership, or sale. Work with external legal counsel, appraisers, and other third-party professionals to ensure timely and cost-effective resolution of problem credits. Credit Administration and Reporting
Maintain complete and accurate documentation of all workout and collection activities. Update risk ratings and ensure that all problem loan files are current, organized, and compliant with internal and regulatory standards. Prepare and present periodic reports summarizing portfolio status, recovery progress, and trends in asset quality to senior management and the Board of Directors. Regulatory and Policy Compliance
Ensure all workout, modification, and collection activities comply with applicable banking regulations and internal policy standards. Support management during regulatory examinations, internal audits, and external loan reviews by providing documentation and analysis as requested. Maintain confidentiality and uphold the highest standards of ethical conduct in all borrower and internal communications. Residential Essential Duties and Responsibilities
Recovery Responsibilities
Reviews past due reports daily/weekly, i.e., 30/60/90/120/150/180. Responsible for establishing initial contact with the borrower via telephone or written communication. Use calling strategies to locate and contact delinquent borrowers. Determine why borrowers are delinquent and formulate resolution strategy with borrower. Keep servicing files up to date with the necessary documents and correspondence needed to ensure a comprehensive record of the borrowers’ account activity is maintained and communicated in Jack Henry. Engage in efforts to prevent foreclosure through loan modifications, repayment plans, short sales, or deed in lieu. Arrange for contractual services relating to property inspection, appraisers, etc. who may be involved in the evaluation of the property. Accurately identify borrowers requiring loss mitigation assistance, properly communicating the process and requirements. Loss Mitigation Responsibilities
Review hardship application to determine eligibility under investor guidelines. Communicates with borrower items required for a complete application. Reviews all workout options available to the borrower. Communicates approval or denial of hardship assistance to borrower including terms and conditions of approved program. Underwrite complete application information to determine appropriate workout options, reviewing income and credit as a part of the process when determining eligibility. Send appropriate letters advising borrower of status of loss mitigation action all within timelines required by investor/CFPB i.e., incomplete package, complete package, denial, options, etc. Coordinate with borrowers, title companies, attorneys, and corporate office to ensure modification processes are completed timely. Regularly provide information to the department manager for the purposes of responding to audits specific to loss mitigation programs. Monitor emails and respond timely. Qualifications
Education and Training:
Bachelor’s degree in business administration, Finance, Accounting, or a related field required. Formal credit training or completion of a commercial lending program preferred. Experience:
Minimum of five (5) years’ experience in commercial lending and special assets/workout functions. Demonstrated experience managing distressed or non-performing commercial credits and working directly with borrowers and legal counsel to resolve issues. Knowledge, Skills, and Abilities:
Strong analytical and financial statement analysis skills. Comprehensive understanding of commercial loan structures, collateral documentation, and risk management practices. Knowledge of applicable banking regulations and collateral valuation methodologies. Effective negotiation and communication skills, with the ability to work collaboratively with borrowers. High attention to detail, sound judgment, and strong organizational skills. Proficiency in Microsoft Excel, PowerPoint and Word. Knowledge of Silverlake/Jack Henry core systems a plus.
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Commercial Loan Workout Officer Department:
Credit Administration / Special Assets Reports To:
Chief Credit Officer Position Summary
The Commercial Loan Workout Officer is responsible for the management, resolution, and recovery of the bank’s adversely classified and non-performing commercial loan portfolio. This position plays a key role in protecting the bank’s asset quality by developing and executing effective workout, restructuring, or liquidation strategies for troubled commercial credits. The ideal candidate will work closely with borrowers, lending officers, legal counsel, and senior management to minimize losses, maximize recoveries, and ensure compliance with bank policies and regulatory standards. Essential Duties and Responsibilities
Commercial Loan Workout and Restructuring
Manage a portfolio of criticized, classified, and non-performing commercial loans, including commercial real estate (CRE), construction, and commercial and industrial (C&I) loans. Develop and implement workout, restructuring, forbearance, or settlement strategies consistent with the bank’s credit policies and regulatory requirements. Conduct detailed borrower and guarantor financial analyses to determine repayment capacity and appropriate workout structure. Negotiate with borrowers to establish feasible repayment arrangements or collateral resolutions that protect the bank’s interests. Prepare detailed credit action plans and recommendations for approval by senior management and the Loan Committee. Collateral and Recovery Management
Oversee collateral evaluation and monitoring, including obtaining updated appraisals, inspections, and environmental reports as appropriate. Coordinate and manage collateral liquidation efforts, including foreclosure, deed in lieu, receivership, or sale. Work with external legal counsel, appraisers, and other third-party professionals to ensure timely and cost-effective resolution of problem credits. Credit Administration and Reporting
Maintain complete and accurate documentation of all workout and collection activities. Update risk ratings and ensure that all problem loan files are current, organized, and compliant with internal and regulatory standards. Prepare and present periodic reports summarizing portfolio status, recovery progress, and trends in asset quality to senior management and the Board of Directors. Regulatory and Policy Compliance
Ensure all workout, modification, and collection activities comply with applicable banking regulations and internal policy standards. Support management during regulatory examinations, internal audits, and external loan reviews by providing documentation and analysis as requested. Maintain confidentiality and uphold the highest standards of ethical conduct in all borrower and internal communications. Residential Essential Duties and Responsibilities
Recovery Responsibilities
Reviews past due reports daily/weekly, i.e., 30/60/90/120/150/180. Responsible for establishing initial contact with the borrower via telephone or written communication. Use calling strategies to locate and contact delinquent borrowers. Determine why borrowers are delinquent and formulate resolution strategy with borrower. Keep servicing files up to date with the necessary documents and correspondence needed to ensure a comprehensive record of the borrowers’ account activity is maintained and communicated in Jack Henry. Engage in efforts to prevent foreclosure through loan modifications, repayment plans, short sales, or deed in lieu. Arrange for contractual services relating to property inspection, appraisers, etc. who may be involved in the evaluation of the property. Accurately identify borrowers requiring loss mitigation assistance, properly communicating the process and requirements. Loss Mitigation Responsibilities
Review hardship application to determine eligibility under investor guidelines. Communicates with borrower items required for a complete application. Reviews all workout options available to the borrower. Communicates approval or denial of hardship assistance to borrower including terms and conditions of approved program. Underwrite complete application information to determine appropriate workout options, reviewing income and credit as a part of the process when determining eligibility. Send appropriate letters advising borrower of status of loss mitigation action all within timelines required by investor/CFPB i.e., incomplete package, complete package, denial, options, etc. Coordinate with borrowers, title companies, attorneys, and corporate office to ensure modification processes are completed timely. Regularly provide information to the department manager for the purposes of responding to audits specific to loss mitigation programs. Monitor emails and respond timely. Qualifications
Education and Training:
Bachelor’s degree in business administration, Finance, Accounting, or a related field required. Formal credit training or completion of a commercial lending program preferred. Experience:
Minimum of five (5) years’ experience in commercial lending and special assets/workout functions. Demonstrated experience managing distressed or non-performing commercial credits and working directly with borrowers and legal counsel to resolve issues. Knowledge, Skills, and Abilities:
Strong analytical and financial statement analysis skills. Comprehensive understanding of commercial loan structures, collateral documentation, and risk management practices. Knowledge of applicable banking regulations and collateral valuation methodologies. Effective negotiation and communication skills, with the ability to work collaboratively with borrowers. High attention to detail, sound judgment, and strong organizational skills. Proficiency in Microsoft Excel, PowerPoint and Word. Knowledge of Silverlake/Jack Henry core systems a plus.
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