Commercial Workout Professionals Are In Demand
If you’re a commercial real estate expert now could be your time to make a move to a more secure job at a bank. While CRE transactions are slow banks are busy trying to workout their troubled commercial real estate loans.
A typical Commercial Loan Workout Officer provides commercial loan workout services to the Bank by managing a portfolio of problem commercial credits with small business that often include commercial real estate. The Workout Officer’s job is to preserve loan principal, and collect interest as well as prevent delinquency and loss.
Commercial workout officers develops and implement a plan of action to defend and improve the bank’s position in the credits by negotiating repayment schedules, obtaining additional collateral or restructuring as appropriate.
Commercial workout officers review existing loan documentation for errors and omissions, and evaluate client’s financial strength and capacity to repay the debt
Typical Commercial Workout Officer Requirements
Responsibilities:
Examine and evaluate customer applications for commercial loans.
Monitors commercial loan collection efforts
Recommends charge-offs and foreclosures
Direct the management of troubled credits.
Develop short and long-range plans and strategies for delequent loans
Manages REO properties
Independently interface with customers and customer’s attorney as well as bank’s legal counsel
Assess the financial condition of a borrower
Obtains financial and corporate statements from the borrower including personal and global cash flow analysis, public records search, and credit reporting agencies.
Evaluate collateral as a source of repayment and assess loss potential in the liquidation process.
Provide management with a report, as requested on the current status of the loan portfolio as far as delinquency, asset recovery performance, and trends related to substandard loans.
Think you have what it takes to be a commercial workout officer? Apply above!