Loan Workouts Officer Job at Taurus Search, Newark, NJ

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  • Taurus Search
  • Newark, NJ

Job Description

My client is seeking a Loan Workouts Officer that has at least 5 years of relevant experience. Primary Responsibilities: Create tailored repayment solutions for distressed loans, focusing on amortization schedules aligned with the borrower’s actual financial capacity. When necessary, initiate the sale or liquidation of collateral assets to protect and recover the bank’s position. Actively manage and reduce credit risk within the Special Assets portfolio. Coordinate with external legal counsel on recovery efforts and legal strategies to optimize loan recovery outcomes. Conduct in-depth analysis of borrower financials, loan documentation, and collateral to determine the most strategic path for recovery. Provide informed recommendations to senior leadership regarding credit risk classification, interest accrual decisions, and potential write-offs. Address weaknesses in loan structure or documentation, and oversee the ongoing assessment of collateral value or liquidation progress. Communicate regularly with senior executives to provide updates and insights on the resolution of high-risk or non-performing loans.

Job Tags

Bank staff,

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