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)
Role:
To originate, manage, and supervise the Credit Union's portfolio of commercial loans, with overall objective of
maintaining and increasing its asset quality; to develop new and existing business relationships.
Essential Functions & Responsibilities:
Takes applications for commercial loan business. Reviews member financial condition and
assesses the member's ability to re-pay the loan. Makes underwriting decisions within approval
authority. Completes or directs completion of all loan documents and closes loans.
Participates in developing lending and deposit business for the Credit Union. Calls on clients to
expand existing business; calls on prospects seeking opportunities to expand the Credit Union's
client base.
Monitors existing loan portfolio to maintain a high-quality asset base. Maintains up-to-date
member files including current balance sheets, profit & loss statements, cash flow projections
and all loan documentation.
Assists in collection of past due loans.
Assists members with any loan-related questions and concerns.
Performs other job related duties as assigned.
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