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Workout Officer

Company: Santander Holdings USA Inc
Location: Philadelphia
Posted on: June 8, 2024

Job Description:

Workout OfficerAlbany, United States of AmericaThe Workout Officer (AVP, Sr. Associate, Workout) leverages their subject matter expertise for collection and work out of a portfolio of problems loans, efficiently executing workout strategies while proactively minimizing potential losses to the Company. The incumbent is responsible for management of a portfolio of workout cases and repossessed assets including developing, recommending, and executing workout strategies for each portfolio case.The Workout Officer also monitors activities to minimize the company's exposure to risk. Activities may include quantitative analysis, risk identification and remediation. Represents or supports the reputation of the company to minimize compliance and regulatory risk by resolving issues and ensuring adherence to company and legal standards. Responsible for ensuring that all the company's activities adhere to the necessary rules and regulations, and that the company complies with legal/regulatory statutes and jurisdictions.

  • Manages a portfolio of problem loan assets, including developing and executing workout strategies, action plans and disposition actions.
  • Recommends appropriate risk ratings, SCAN ratings, charge-offs, reserves, and accrual status for each loan.
  • Manages loan workout process expenses and division and corporate expense targets
  • Ensures approved strategies result in reduction of criticized and classified exposures in accordance with risk management objectives and corporate budgets.
  • Performs analysis of credit submittals regarding transactions and / or financial strengths to ascertain if borrowers qualify for financing restructures. - Develop and recommend for approval charge-offs, reserves, settlements, and Loan Restructures as appropriate.
  • Coordinates reporting, analysis, and vendor management for assigned portfolio.
  • Monitors portfolio and quality assurance in compliance with corporate policy.
  • Ensures compliance with training, statutes, valuation and environmental policy
  • Oversees and ensures consistent quality control, accuracy, and compliance with internal policies and regulatory requirements for reporting processes.
  • Mentors and coaches work of junior level workout professionals.
  • Leads special workout projects, programs, and other related workout activities.
  • Communicates recommendations and credit risk management processes to management that strengthens the organization and enhances overall supervision of lending methods and provides tools to continually measure effectiveness.Qualifications:
    • Education: Bachelor's Degree in Business, Accounting, Finance, Economics or equivalent work experience required. Master's Degree, Business, Accounting, Finance, Economics or equivalent field preferred.
    • Experience: 9+ years in Commercial & Industrial ("C&I") Loan Workout.
    • Advanced knowledge of credit risk management, collection and workout best practices, identification, resolution and implementation.
    • Demonstrated experience facilitating change to achieve measurable results.
    • Detail orientated with the ability to also understand overall strategy.
    • Excellent interpersonal, supervisory, and customer service skills required.
    • Excellent written and verbal communication skills
    • Excellent critical thinking skills with the ability to be adept in identifying and resolving complex risk management problems.
    • Excellent project management skills.
    • Ability to build and foster internal relationships.
    • Ability to lead, influence and direct peers, subordinates and management.
    • Ability to interact with senior level management; experience interfacing with multiple levels of the organizational structure.
    • Self-directed, self-motivated and demonstrated experience providing ideas and solutions to further business understanding.At Santander, we value and respect differences in our workforce and strive to increase the diversity of our teams. We actively encourage everyone to apply.Santander is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, genetics, disability, age, veteran status or any other characteristic protected by law.This job description does not list all of the job duties of the job. You may be asked by your supervisors or managers to perform other duties. You may be evaluated in part based upon your performance of the tasks listed in this job description. The employer has the right to revise this job description at any time. This job description is not a contract for employment and either you or the employer may terminate at any time for any reason.The base annual salary range for this position is $115,875 to $165,000. The exact compensation may vary based on skills, experience, training, licensure and certifications and location. Bachelor of Science (BS) English

      Primary Location: -Santander Consumer, TX, SCUSA-Remote Office
      Other Locations: -New York-Albany,Pennsylvania-Philadelphia
      Organization: -Santander Bank N.A.

Keywords: Santander Holdings USA Inc, Philadelphia , Workout Officer, Other , Philadelphia, Pennsylvania

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