td bankFort Lauderdale, FL
Workout Officer II (US) Small Business and Commercial
$91,000 - $136,249 per year
Apply (opens in a new tab)Workout Officer II (US) Small Business and Commercial
Workout Officer II (US) Small Business and Commercial
td bankFort Lauderdale, FL
yesterday
$91,000 - $136,249 per year
Other Activities Related to Credit IntermediationInternational, Secondary Market, and All Other Nondepository Credit IntermediationConsumer Lending
Apply for this role (opens in a new tab)Workout Officer II
Work Location: Fort Lauderdale, Florida, United States of America
Hours: 40
Pay Details:
$91,000.00 - $136,249.00 USDTD is committed to providing fair and equitable compensation opportunities to all colleagues. Growth opportunities and skill development are defining features of the colleague experience at TD. Our compensation policies and practices have been designed to allow colleagues to progress through the salary range over time as they progress in their role. The base pay actually offered may vary based upon the candidate's skills and experience, job-related knowledge, geographic location, and other specific business and organizational needs. As a candidate, you are encouraged to ask compensation related questions and have an open dialogue with your recruiter who can provide you more specific details for this role. Line of Business: Risk Management
Job Description:
The Workout Officer II manages the resolution of adversely rated loans. This role manages all but the most complex accounts, referring only unusual questions to department management. Responsible for the collection or return to pass rating of assigned delinquent accounts for Small Business and Commercial Borrowers. The primary purpose/focus of this position is to reduce the exposure of downgraded relationships credits. The position may include analyzing documents related to servicing a Small Business Administration loan.
Depth & Scope:
- 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
- Coordinates 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
- Reviews workout plans and recommendations with department management
- Provides background information on accounts and supports recommendations with clear explanations of data, reasoning and analysis
- Obtains support and approval of recommendations from department management or modifies them as needed
- Implements liquidation plans with accounts as needed, converting assets into cash and closing accounts; seizes assets, forecloses real estate and coordinates third party asset sales
- Utilizes extensive industry contacts to determine interest in available assets
- Attends auctions of seized property to make minimum bids on assets to protect Company's financial position
Performs financial analyses and collateral reviews, evaluates budget feasibility, consults with more experienced staff to make recommendations on workout terms to recover principal, interest and collection costs subject to department manager approval as necessary and communicates with accounts to finalize agreements
Meets with accounts and gathers financial, collateral, budget, business plan and other general business information in close coordination with commercial lenders and other appropriate internal and outside staff as necessary, including Customer financial staff, turnaround consultants, accounting firms, attorneys and others
Explains workout process to accounts and compiles necessary information to complete analysis
Evaluates account information and prepares project plan documentation for account file
Negotiates with borrowers, principals, debtor Company management, attorneys, accountants, consultants, and others to secure appropriate repayment on loans for more complex agreements within parameters defined by workout decisions agreed upon with department management with limited need for outside attorney time because of in-depth knowledge of industry practices and legal requirements
Performs all the functions of a Workout Officer I, but handles more complex deals and maintains more in-depth knowledge of workout methods, procedures and techniques
Performs workout of assigned adversely rated loans, meeting with assigned larger, more complex accounts under limited supervision of more experienced staff or management
Works Independently
Education & Experience:
- Associate's degree 3-5 Years of related experience
- 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
- Strong Communication skills, both verbal and writtenPC skills
Customer Accountabilities:
- Understands and supports the Bank's Customer Service Strategy
- Considers the impact of decisions on the well-being of TD, its Customers and stakeholders
- Provides the highest level of Customer service when dealing with internal partners, vendors or our Customers - WOW at every opportunity
- Models quality service delivery at every interaction
- Leads and contributes to the ongoing improvement of the partner / Customer experience
- Employee/Team Accountabilities:
- Be engaged in advancing and sustaining a unique, inclusive culture that reflects TD's diversity agenda, and create an extraordinary employee experience
- Participates fully as a member of the team and contribute to a positive work environment
- May provide leadership, training, and guidance to other team members
- Ensures ongoing communication with the team on the status / progress of projects and issues / points of interest
- Actively shares information and knowledge, and proactively learn from the expertise of others
Physical Requirements:
- Never: 0%; Occasional: 1-33%; Frequent: 34-66%; Continuous: 67-100%Domestic Travel Occasional
- International Travel Never
- Performing sedentary work Continuous
- Performing multiple tasks Continuous
- Operating standard office equipment - Continuous
- Responding quickly to sounds Occasional
- Sitting Continuous
- Standing Occasional
- Walking Occasional
- Moving safely in confined spaces OccasionalLifting/Carrying (under 25 lbs.) OccasionalLifting/Carrying (over 25 lbs.) Never
- Squatting Occasional
- Bending Occasional
- Kneeling Never
- Crawling Never
- Climbing NeverReaching overhead NeverReaching forward Occasional
- Pushing Never
- Pulling Never
- Twisting Never
- Concentrating for long periods of time Continuous
- Applying common sense to deal with problems involving standardized situations Continuous
- Reading, writing and comprehending instructions Continuous
- Adding, subtracting, multiplying and dividing Continuous
The above statements are intended to describe the general nature and level of work being performed by people assigned to this job. They are not intended to be an exhaustive list of all responsibilities, duties and skills required. The listed or specified responsibilities & duties are considered essential functions for ADA purposes.
TD is one of the world's leading global financial institutions and is the fifth largest bank in North America by branches/stores. Every day, we strive to make every interaction, product, and experience remarkably human and refreshingly simple for over 27 million households and businesses in Canada, the United States and around the world. More than 95,000 TD colleagues bring their skills, talent, and creativity to foster deeper relationships, ensure disciplined execution, and build a simpler, faster banking experience. TD is deeply committed to being a leader in client experience, that is why we believe that all colleagues, no matter where they work, are client facing. Together, we are reimagining what banking can be for our clients, colleagues and communities.
Our Total Rewards Package reflects the investments we make in our colleagues to help them and their families achieve their financial, physical and mental well-being goals. Total Rewards at TD includes base salary and variable compensation/incentive awards (e.g., eligibility for cash and/or
Also on the board Same function, level within a rung
Level
Senior
Salary
$91,000 - $136,249 per year
Location
Fort Lauderdale, FL
Occupation
Loan Officers
Industry
Other Activities Related to Credit Intermediation
Posted
yesterday