Avidia Bank
Workout Officer
Avidia Bank, Hudson, Massachusetts, United States, 01749
Avidia Bank
Equal Employment Opportunity/M/F/disability/protected veteran status
Description:
Position Overview:As part of the Workout team, the officer will reduce the bank's exposure to loss in consumer/residential loans, commercial loans and OREO properties. Coordinates and executes action plans and provides liaison between management, loan officers, collection personnel and loan operations and borrowers.Primary Responsibilities:Performs any functions necessary, within scope of authority and expertise, to provide the highest level of service and responsiveness to customers:Directly or in conjunction with the Workout Manager, manage delinquent and classified loans by borrower and third party contact to:Analyze financial statements, loan documents and collateral to ascertain best collection routeReview, analyze, and correct any structural or documentation deficienciesMonitor and or improve the Bank's collateral position or supervise liquidation of the collateral when necessary, in an effort to protect the bank's interestsRestructure problem loans by implementing an amortization plan based on the borrower's realistic ability to repayIdentify alternate financing or credit enhancement options to improve the bank's riskMake recommendations to management as to risk ratings, accrual of interest, impairment, identification of TDR's and charge-offsFacilitate collection of PMI and Forced Placed insurance claimsExecute FNMA collection and modification proceduresCreate and/or maintain files for consumer/residential and commercial loan workout customersActive management or assistance in management Other Real Estate Owned (OREO) properties owned by the Bank or its affiliate including:Create and maintain OREO filesCoordinate payment and tracking of OREO billsInteraction with attorneys and other consultants/vendors as needed to minimize loss / maximize recovery on loans and OREOWorks closely with internal partners in Credit Administration, Collections, Commercial Lending, Loan Operations, and Finance to ensure efficient administration of assets in workout and OREO process.Provides reporting and updates to senior management regarding the status of workout credits as necessary.
Other Responsibilities:Perform related and unrelated duties as may be required.Requirements:
Bachelor's degree in business, finance or accounting, or an equivalent combination of work experience and industry specific workout and/or credit underwriting training.Five plus years of banking experience including lending, collections, credit analysis or underwriting.Minimum two years of banking experience within commercial, consumer/residential, credit/underwriting, or collections/workout environment.Understanding of commercial or residential collections and workout, including methods, content and frequency of contact, property and collateral valuations, troubled debt restructures, and impaired and non-accrual loans.General knowledge of secured and unsecured lending practices, documentation and legal requirements.Strong analytical and negotiation skills. Excellent written and verbal communication skills.Ability to prioritize tasks within defined responsibilities and apply bank and department policies and procedures.Experience utilizing banking core processing/host systems for maintenance.Proficiency with Microsoft Office (Word, Excel, Outlook).Avidia Bank is an Equal Opportunity Employer/Veterans/Disabled
Member FDIC/DIF
PM21
PI4ac0f712f0aa-35216-35593631
Equal Employment Opportunity/M/F/disability/protected veteran status
Description:
Position Overview:As part of the Workout team, the officer will reduce the bank's exposure to loss in consumer/residential loans, commercial loans and OREO properties. Coordinates and executes action plans and provides liaison between management, loan officers, collection personnel and loan operations and borrowers.Primary Responsibilities:Performs any functions necessary, within scope of authority and expertise, to provide the highest level of service and responsiveness to customers:Directly or in conjunction with the Workout Manager, manage delinquent and classified loans by borrower and third party contact to:Analyze financial statements, loan documents and collateral to ascertain best collection routeReview, analyze, and correct any structural or documentation deficienciesMonitor and or improve the Bank's collateral position or supervise liquidation of the collateral when necessary, in an effort to protect the bank's interestsRestructure problem loans by implementing an amortization plan based on the borrower's realistic ability to repayIdentify alternate financing or credit enhancement options to improve the bank's riskMake recommendations to management as to risk ratings, accrual of interest, impairment, identification of TDR's and charge-offsFacilitate collection of PMI and Forced Placed insurance claimsExecute FNMA collection and modification proceduresCreate and/or maintain files for consumer/residential and commercial loan workout customersActive management or assistance in management Other Real Estate Owned (OREO) properties owned by the Bank or its affiliate including:Create and maintain OREO filesCoordinate payment and tracking of OREO billsInteraction with attorneys and other consultants/vendors as needed to minimize loss / maximize recovery on loans and OREOWorks closely with internal partners in Credit Administration, Collections, Commercial Lending, Loan Operations, and Finance to ensure efficient administration of assets in workout and OREO process.Provides reporting and updates to senior management regarding the status of workout credits as necessary.
Other Responsibilities:Perform related and unrelated duties as may be required.Requirements:
Bachelor's degree in business, finance or accounting, or an equivalent combination of work experience and industry specific workout and/or credit underwriting training.Five plus years of banking experience including lending, collections, credit analysis or underwriting.Minimum two years of banking experience within commercial, consumer/residential, credit/underwriting, or collections/workout environment.Understanding of commercial or residential collections and workout, including methods, content and frequency of contact, property and collateral valuations, troubled debt restructures, and impaired and non-accrual loans.General knowledge of secured and unsecured lending practices, documentation and legal requirements.Strong analytical and negotiation skills. Excellent written and verbal communication skills.Ability to prioritize tasks within defined responsibilities and apply bank and department policies and procedures.Experience utilizing banking core processing/host systems for maintenance.Proficiency with Microsoft Office (Word, Excel, Outlook).Avidia Bank is an Equal Opportunity Employer/Veterans/Disabled
Member FDIC/DIF
PM21
PI4ac0f712f0aa-35216-35593631