workout officer Job Listing at Valley Bank in Fairfield, NJ (Job ID 26-173)

Description

Responsibilities include but are not limited to:

• Lead the end to end management of a portfolio of criticized, classified, and non performing commercial loans.
• Develop and execute strategic and legal action plans for each relationship, for cost effective maximum recovery for the bank.
• Maintain strict oversight of financial performance, covenant compliance, collateral integrity, and borrowerâoperating trends.
• Identify emerging risks early and take immediate corrective action to minimize loss exposure.
• Conduct financial, cash flow, collateral, and global exposure analyses to determine the most effective workout strategy.
• Recommend forbearance structures, repayment strategies, liquidations, or exits based on quantitative and qualitative assessments.
• Prepare clear, defensible credit memoranda and recommendations for senior credit authorities.
• Lead negotiations with borrowers, guarantors, and third parties with a firm, disciplined approach that prioritizes the Bank's recovery and risk position.
• Establish performance expectations, enforce compliance timelines, and escalate when borrowers fail to meet requirements.
• Build professional but authoritative borrower relationships that drive transparency and accountability.
• Partner closely with internal and external legal counsel on litigation, bankruptcy, foreclosure, receivership, and other enforcement actions.
• Ensure full adherence to regulatory guidance, including OCC requirements for problem loan oversight, classification accuracy, and documentation integrity.
• Maintain complete and audit ready files, action plans, and system records.
• Provide clear direction and subject matter expertise to internal partners, including credit risk, operations, valuation teams, and senior management.
• Communicate credit deterioration, strategic options, and projected losses with precision and urgency.