TD · 1 week ago
Workout Officer II
Fort Lauderdale, Florida
Full-time
Hybrid
Mid Level
$91K/yr - $136K/yr
3+ years expTD Bank is one of the world's leading global financial institutions, and they are seeking a Workout Officer II to manage assigned adversely rated loans within the Small Business delinquency pool. The role focuses on modifying, litigating, or resolving relationships to maximize bank recovery and involves comprehensive communication and negotiation with customers and external professionals.
BankingFinanceFinancial ServicesWealth Management
Responsibilities
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
Qualification
Required
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 written
PC skills
Preferred
Commercial/Small Business Lending experience – Ideal candidates have a CLA/CSA type of background
Commercial Lending Platform experience – preferably Shaw, Fidelity
Ability to oversee/workout 20 loans a week
Strong work ethic, diplomacy, proven experience managing/fostering relationships, etc
Benefits
Health and well-being benefits
Savings and retirement programs
Paid time off (including Vacation PTO, Flex PTO, and Holiday PTO)
Banking benefits and discounts
Career development
Reward and recognition
Company
The Toronto-Dominion Bank & its subsidiaries are collectively known as TD Bank Group (TD).
10001+ employees
H1B Sponsorship
TD has a track record of offering H1B sponsorships. Please note that this does not
guarantee sponsorship for this specific role. Below presents additional info for your
reference. (Data Powered by US Department of Labor)
Distribution of Different Job Fields Receiving Sponsorship
Represents job field similar to this job
Trends of Total Sponsorships
2022 (1)
2020 (6)
Funding
Current Stage
Late StageTotal Funding
$65MKey Investors
U.S. Department of the Treasury
2023-10-03Grant· $65M
Leadership Team
Brian Jacobson
Chief of Staff to the CEO, TD Bank, America's Most Convenient Bank
F
Foster Glenn
SVP, Chief Information Security Officer
Recent News
Investment News
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