Loan Workout Officer jobs in New Jersey

Our goal is to hire and retain talented people with engaging personalities and exceptional work ethics. We believe in recognizing and rewarding employees who consistently perform at a high level.

We offer competitive salaries based upon experience and a comprehensive benefits package upon satisfying eligibility conditions, including health and dental insurance, life insurance, short term and long term disability, and the Bank’s 401k Plan.

Position Summary:
Responsible for managing, monitoring, and resolving the bank's deteriorating and non-performing commercial and consumer loans. Other responsibilities will include participating in negotiations and related proceedings involving complex and difficult cases including SBA related loans; reviewing operational issues, verifying collateral, and pursuing collection opportunities; and having direct contact with borrowers and third-party vendors. This position calls for a strategic individual who thrives in a fast-paced environment who excels at problem resolution and managing various priorities simultaneously.

Duties & Responsibilities:

1. Manage a portfolio of problem loans and assist Loan Workout Manager with recommendations in the workout and foreclosure process, including Troubled Debt Restructurings, Forbearance Agreements and Deeds-In-Lieu of Foreclosure.

2. Assist with management of the OREO portfolio.

3. Coordinate with outside attorneys on more complex accounts, utilizing more in-depth knowledge of legal guidelines.

4. Reviews workout plans and recommendations with department management. Provides background information on accounts and supports recommendations with clear explanations of data, reasoning, and analysis.

5. Attends auctions of seized property to make minimum bids on assets to protect Company's financial position.

6. Attends and participates in portfolio reviews and committee meetings and makes recommendations on approval documents.

7. Completing other tasks as assigned.

Qualifications:

1. College Degree (B.S./B.A.) or equivalent job experience.

2. 7-10 years Commercial Banking/Loan Workout experience.

3. Knowledge of banking products, banking procedures and guidelines.

4. Problem Solving and problem resolution skills.

5. Strong oral and written communication skills.

6. Ability to work independently.

7. Excellent interpersonal skills.

8. Professional demeanor and appearance.

9. Self-motivated.

10. Proficient in Microsoft Office.

First Bank is an EEO/AA Employer, M/F-Disabled-Veteran and LGBTQ can apply to our company for employment opportunities.

Job Type: Full-time

Pay: From $103,000.00 per year

Benefits:

• 401(k)
• 401(k) matching
• Dental insurance
• Health insurance
• Paid time off

Compensation package:

• Bonus opportunities

Payment frequency:

• Paid biweekly

Schedule:

• 8 hour shift
• Monday to Friday

Work setting:

• In-person

Experience:

• Commercial Banking/Loan Workout: 7 years (Preferred)

Ability to Commute:

• Township of Hamilton, NJ 08690 (Preferred)

Work Location: In person