Loan Workout Officer
Indianapolis, IN  / Schaumburg, IL  / Brookfield, WI 
Share
Posted 10 days ago
Job Description

About us…

Byline Bank is a growing financial institution and we’re hoping you can join our team and grow with us!

We are currently seeking a Loan Workout Officer to be responsible for performing a variety of duties including meeting with C&I borrowers and evaluating businesses on all levels including financial and collateral management to determine the best strategy moving forward. This position will recommend and defend the best negotiated strategies to the Bank that will maximize recoveries and minimize losses. It is important that the Loan Workout Officer follows all USDA and SBA guidelines as well as communicate with the USDA and SBA representatives according to the terms of their agreements. This position will also be responsible for conducting site visits to determine and report on the current status of operations.

About you…

Come work with us. Work in a place where hard work is rewarded. Where you make a real difference. Where the people you work with treat you like family – because that’s exactly what you are.

What you need to bring…

An interest in SBA Lending and Commercial Banking and working with people, building relationships and providing the best customer experience possible is essential to this role.

Loan Workout Officer Core Responsibilities:

  • Communicate regularly and effectively with borrowers that are seriously delinquent in order to identify and counsel them on the best workout options available.

  • Obtain all necessary documentation, including updated financial information, from borrowers, guarantors, etc. and coordinate workouts with applicable internal departments.

  • Prepare and Review SBA PDK’s or 10Tabs.
  • Communicate with the SBA on loan files when they have questions or requests
  • Negotiate workouts with all involved parties (borrowers, guarantors, SBA, and any other participants, etc.) from initial workout request to final close of workout.

  • Analyze properties and their corresponding markets to determine and recommend appropriate disposition strategies, book values and charge-offs in conformance with Bank policies and procedures and regulatory requirements.

  • Prepare reports and forecasts detailing the management and disposition of REOs

  • Analyze financial statements, business history and creditworthiness of buyers and borrowers.

  • Complete documentation of workout efforts (including communications, reason for default, workout/payment plans, updated phone numbers and mailing addresses) and ensuring all information is part of the permanent loan file.

  • Refer and partner with outside legal counsel to initiate litigation actions when necessary and oversee all phases of proceedings, including bankruptcy and foreclosure actions.

  • Detect early warning signs, loan inherent deficiencies, and communicate problem assets, loan weaknesses to credit department for appropriate reserve allocation and loan risk rating levels.

  • Maintain effective relationships with real estate brokers, potential purchasers, title and escrow companies, receivers, property management firms and other REO property related vendors.

    Requirements:

  • A Bachelor’s degree in Business Administration, Accounting or Finance.

  • At least 4 years of experience in commercial lending (C&I) including special assets, loan review, credit and/or lending.

  • Firm knowledge of loan collection techniques, policies, procedures, and principles of credit lending; with specific knowledge of US Small Business Administration policies and procedures.

  • Strong negotiation, interpersonal, project management analytical, negotiating and written and oral communication skills.

  • Working understanding of loan collection, bankruptcy, foreclosure, repossession, regulations and legal collection processes.

  • Thorough knowledge of commercial real estate finance, accounting and law.

  • Minimum three years of US Small Business Administration loan experience.

    Byline Bank is committed to providing equal employment opportunity and maintaining a workplace for employees and applicants for employment that is free from discrimination based upon age, race, religion, color, disability, marital status, gender, national origin, ancestry, ethnicity, sexual orientation, gender identity or expression, genetic information, veteran or military status, or any other status protected by applicable federal, state, or local law.

    If you require a reasonable accommodation, due to a medical condition or disability, during any part of the application, please contact the human resources department to let us know the nature of your request.

    Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities
The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor's legal duty to furnish information.

 

Job Summary
Company
Start Date
As soon as possible
Employment Term and Type
Regular, Full Time
Required Education
Bachelor's Degree
Required Experience
4+ years
Email this Job to Yourself or a Friend
Indicates required fields