Workout/Special Assets Officer – Montgomery County, MD
Location : Montgomery County, MD
Job Type : Direct
Hours : Full Time
Required Education : Bachelors Degree
Travel : No
Relocation : No
Job Description :
Our client is a well-established financial institution that spans the Greater Washington DC area. They are currently seeking an experienced workout officer to join their team in DC.
- Manages/Monitors Past Due Loans.
- Manages loan workout process which may include negotiations with borrower(s), guarantor(s), landlord, May also include liquidation of collateral, management of auction process, retention and interaction with bank counsel - all in an effort to maximize recovery and minimize the loss to the bank
- Works with Bank Counsel(s) on negotiating troubled assets and attend hearings as needed; filing of judgments; collection activities
- Restructures troubled assets. Negotiates, Manages and processes Change in Terms, Forbearance Agreements and loan modifications of loans in portfolio.
- Works with bank auditors, external loan review auditors and state and federal regulators as needed.
- Requests, reviews and analyzes financial information of Borrower(s).
- Manages/Monitors OREO properties and properties classified as "Non-Performing Assets".
- Coordinates insurance coverages for bank owned properties and properties lacking proper insurance coverage.
- Orders & reviews appraisals of properties within loan portfolio.
- Coordinates payment of collection expenses and legal fees.
- Prepares and presents memos at quarterly Senior Management and Board Meetings.
Required Qualifications :