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Bethpage

    Sr Commercial Workout Officer - Bethpage, United States - Bethpage

    Bethpage
    Bethpage Bethpage, United States

    2 weeks ago

    Default job background
    Description
    Bethpage has a commitment to excellence and the highest standards of member service.

    Our values and behaviors are critical to the success and growth of the business and they were all created with a unique cultural foundation.

    To review our values and behaviors, please visit

    The Brand is You


    Responsibilities Include:
    (Please summarize the 4-8 main responsibilities/accountabilities of the position. List responsibilities in the order of importance and time spent.)

    Effectively manages an assigned portfolio of distressed commercial real estate loans (CRE) and Commercial and Industrial loans (C&I).

    For each assigned loan has a comprehensive understanding of the reasons the loan was transferred to workout which may include but not limited to payment default and covenant violations.

    Conducts a comprehensive review of the internal credit file and loan documentation to understand all legal rights and remedies. Coordinates with legal counsel to draft and issue appropriate and timely notices as warranted. Attempts to establish contact with borrower and to obtain all updated financials.

    Coordinates with third parties to obtain all appropriate due diligence items which may include but not limited to updated appraisal, property inspection, and engineer reports.


    Timely prepares the initial and quarterly criticized asset memorandum which includes detailed financial analysis outlining the borrower and guarantors' financial capacity, assessment of the collateral condition, market, and value, assessment of the current risk rating and reserve, and outlines the recommended remediation strategy which may include but not limited to a modification, note sale, or foreclosure including an action plan with the intent to mitigate losses and maximize recoveries.

    The recommended remediation strategies will be presented and recommended to Asset Quality Committee (AQC) for approval.


    Manages the enforcement of the credit unions rights and remedies with respect to borrower and personal guarantors if negotiated and approved modification plan proves not feasible and/or further defaults ensue.

    Required to work closely with external counsel, court appointed receivers and others in enforcement proceedings to mitigate losses and maximize recoveries.


    Manages real estate owned (REO) within assigned portfolio coordinating with external vendors such as property managers, leasing agents and listing brokers in order to maximize recoveries upon disposition of the asset.

    On a monthly basis, reconciles vendor and property management reports analyzing the rent roll, preparing income statement and balance sheet spreads, and creating budget and proforma cashflow analysis.


    Required to work closely and timely with participants on all remedial strategies while adhering to the master loan participation agreement.

    Provide documented monthly status updates to participants and schedule status update calls with participants when warranted.

    Coordinate with commercial loan servicing, accounting and participants with regards to monthly billings and invoices for services rendered.


    Responsible for preparing and generating accurate updates for weekly delinquency report, monthly pipeline report, and quarterly Asset Quality Committee (AQC) / Board report.


    Responsible for maintaining organized and up to date credit file for all loans assigned which includes the receipt of all updated financials, searches, legal documents, approvals, and all communications with borrowers, attorneys, participants, and vendors.

    Responsible for mentoring and coaching work of junior level workout analysts.

    Grade 21; Exempt, Salary range $111, $139,881.00
    #J-18808-Ljbffr
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