Commercial Loan Workout Officer

Job Description

Job Description

The Commercial Loan Workout Officer is responsible for managing a portfolio of criticized, distressed, or otherwise troubled commercial loans. This role focuses on minimizing credit losses, maximizing recoveries, and restructuring loans when appropriate. The officer works closely with relationship managers, credit risk teams, legal counsel, and leadership to develop and execute strategies that protect the credit union’s interests while supporting borrower viability when possible.

Location : Williston, VT but can be worked fully remotely.

Specific duties include:

• Portfolio Management & Risk Mitigation – Manage a portfolio of distressed commercial loans across multiple asset types; analyze borrower financials, collateral, cash flow, and repayment capacity; develop and execute workout strategies (restructuring, forbearance, liquidation, or legal action); recommend loan grading changes and impairment assessments; and conduct ongoing portfolio reviews with recovery forecasting.

• Borrower Engagement & Negotiation – Lead borrower discussions to assess financial challenges, negotiate loan modifications, settlements, and repayment plans, and balance relationship management with enforcement of the credit union’s rights and remedies in accordance with policy and regulatory guidance.

• Credit Analysis & Documentation – Perform underwriting for modified or restructured loans; prepare comprehensive credit memoranda documenting risk assessment, recommended actions, and recovery strategies; and coordinate with internal counsel and external legal resources on foreclosure, bankruptcy, receivership, or litigation matters.

• Cross‑Functional Collaboration – Partner with Credit Administration, Loan Operations, Risk Management, and Commercial Lenders to ensure coordinated workout execution; provide guidance on early warning indicators and workout best practices; and participate in committee meetings and regulatory examinations.

• Reporting & Compliance – Maintain accurate records of borrower communications and recovery actions; monitor and report criticized assets, impairments, charge‑offs, and reserves; and ensure adherence to CECL, NCUA, state regulatory requirements, and internal credit policies.

Experience:

5–10+ years of commercial lending, credit analysis, or special assets/workout experience. Proven experience handling distressed commercial credits, restructures, and legal recovery actions.

Education/Certifications/Licenses

Bachelor’s degree in finance, accounting, business, or related field (MBA or formal credit training preferred). A college degree.

Interpersonal Skills

The ability to motivate or influence internal or external senior level professionals is a critical part of the job, requiring a significant level of influence and trust. Obtaining cooperation and agreement on important outcomes via frequently complex, senior level dialogues, as well as a professional level of written communication skills are essential to the position.

Physical Requirements

Is able to bend, sit, and stand in order to perform primarily sedentary work with limited physical exertion and occasional lifting of up to 10 lbs. Must be capable of climbing / descending stairs in an emergency situation. Must be able to operate routine office equipment including computer terminals and keyboards, telephones, copiers, facsimiles, and calculators. Must be able to routinely perform work on computer for an average of 6-8 hours per day, when necessary. Must be able to work extended hours or travel off site whenever required or requested by management. Must be capable of regular, reliable and timely attendance.

Working Conditions

Must be able to routinely perform work indoors in climate-controlled shared work area with minimal noise.

Mental and/or Emotional Requirements

Must be able to perform job functions independently or with limited supervision and work effectively either on own or as part of a team. Must be able to read and carry out various written instructions and follow oral instructions. Must be able to complete basic mathematical calculations, spell accurately, and understand computer basics. Must be able to speak clearly and deliver information in a logical and understandable sequence. Must be capable of dealing calmly and professionally with numerous different personalities from diverse cultures at various levels within and outside of the organization and demonstrate highest levels of customer service and discretion when dealing with the public. Must be able to perform responsibilities with composure under the stress of deadlines / requirements for extreme accuracy and quality and/or fast pace. Must be able to effectively handle multiple, simultaneous, and changing priorities. Must be capable of exercising highest level of discretion on both internal and external confidential matters.