Commercial Loan Workout Officer restructures problem loans for commercial clients. Negotiates with lending personnel and commercial borrowers to better secure collateral and/or assets of the borrower. Being a Commercial Loan Workout Officer works with small to moderate size loans of little complexity. Typically requires a bachelor's degree. Additionally, Commercial Loan Workout Officer typically reports to a supervisor or manager. The Commercial Loan Workout Officer works on projects/matters of limited complexity in a support role. Work is closely managed. To be a Commercial Loan Workout Officer typically requires 0-2 years of related experience. (Copyright 2024 Salary.com)
JOB TITLE: Commercial Loan Officer
REPORTS TO: Location President
DEPARTMENT: Lending
BASIC FUNCTION: Responsible for developing new loan business; developing deposit relationships which includes treasury management services; servicing existing loan portfolio; and collecting past due loans.
JOB SPECIFICATIONS: College degree in finance, accounting, or related field is required. Must have a minimum of five years' experience in commercial and Real Estate lending. Ability to analyze loan requests and financial capabilities of customers, sufficient knowledge of credit analysis methods and techniques to perform complex credit and financial analyses to support loan decisions, and knowledge of applicable federal and state banking laws and regulations are essential. Organizational, analytical, and negotiation skills, as well as excellent computer skills are also required. Must be self-motivated, able to handle multiple tasks simultaneously, and work in a stressful environment. Good interpersonal, communications, and customer relations skills are required.
EXTERNAL CONTACTS: Frequent contact with customers, prospective customers, realtors, builders, other lenders, regulators, title companies and appraisers regarding loan inquiries, loan solicitation, and other loan-related business.
INTERNAL CONTACTS: Regular contact with SLO, lending staff and other Branch personnel; occasional contact with Board of Directors.
DECISION MAKING RESPONSIBILITIES: Loan authority to be determined based on experience level. Makes credit decisions; oversees closing, funding, and servicing of loans; monitors new loans, past dues, NSFs and exceptions; verifies proper documentation necessary to protect the Bank's interest on loans; assists in the decision-making process for the loan committee, and ensures compliance with applicable laws, regulations, policies, and procedures. Resolves customer complaints and problems.
KEY ACTIVITIES:
The above statements describe the general nature and level of work being performed. They are not to be construed as an exhaustive list of all responsibilities, duties, and skills required of the position. Employees holding this position will be required to perform any other job-related duties as requested by management. All requirements are subject to possible modification to reasonably accommodate individuals with a disability.
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