Workout Officer Job in Portland, Maine Us

Workout Officer

Performs workout of assigned adversely rated loans. Meetings with all but the most complex accounts independently, referring only unusual questions to department management. Responsible for the collection of assigned delinquent accounts for one or more types of loans. Develops and trains Asset Recovery Representative and serves as a resource to team.

*Communicates workout decisions to Customers. Negotiates specific terms and conditions for more complex agreements within parameters defined by workout decisions in coordination with appropriate internal staff and outside professionals as necessary. May coordinate with outside attorneys for more complex accounts, utilizing more in-depth knowledge of legal guidelines and industry practices to limit attorney time. Coordinates documentation preparation, reviews documents and finalizes workout agreements with accounts with assistance from more experienced staff only in unusual situations.

*Monitors status of assigned accounts on an ongoing basis to ensure compliance with workout agreements reviews financial statements, meets with Customers, checks on collateral and takes appropriate action as needed.
*Ensures the accuracy and maintenance of Customer records and files and updates information as needed. Prepares extensive management reports summarizing account activity.
*Resolves escalated Customer service issues.
*Communicates workout decisions to Customers. Negotiates specific terms and conditions for more complex agreements within parameters defined by workout decisions in coordination with appropriate internal staff and outside professionals as necessary. May coordinate with outside attorneys for more complex accounts, utilizing more in-depth knowledge of legal guidelines and industry practices to limit attorney time. Coordinates documentation preparation, reviews documents and finalizes workout agreements with accounts with assistance from more experienced staff only in unusual situations.
*Monitors status of assigned accounts on an ongoing basis to ensure compliance with workout agreements reviews financial statements, meets with Customers, checks on collateral and takes appropriate action as needed.
*Ensures the accuracy and maintenance of Customer records and files and updates information as needed. Prepares extensive management reports summarizing account activity.
*Resolves escalated Customer service issues.

*4 year degree or equivalent experience
*Minimum 3-5 years related experience required
*Strong credit analysis skills
*Ability to read, understand and interpret more complex financial statements
*Familiarity with a variety of more complex commercial loans
*In-depth understanding of workout strategies and techniques
*Strong negotiation skills
*Communication skills, both verbal and written
*PC skills
*Workout Officer II accounts are typically up to $1M

TD Bank is an Equal Opportunity Employer. Drug Test and Background Screening is Required.