Job Information
GLACIER BANCORP, INC Loan Workout Officer in AMERICAN FORK, Utah
About The Role
Altabank, Division of Glacier Bank, is looking for a Full-time Loan Workout Officer for our American Fork branch.
Role:
Manage downgraded lending relationships, mitigate loan loss, negotiate loan payoffs and otherwise working to minimize charge off's and maximize loan repayment. The Loan Workout Officer (LWO) is responsible for the management of troubled borrower relationships and/or adversely graded loans within the Bank's loan portfolio of diverse size and complexity in compliance with all applicable state and federal laws, rules and regulations and Bank lending policies and procedures. Management of LWO's portfolio involves regular direct interactions and negotiation with borrowers, legal counsel, as well as working closely with Bank loan officers and other team members to ensure the Bank's interests are properly preserved. This includes, but is not limited to, taking appropriate measures to mitigate the risk of loan loss, preserving collateral and/or lien rights, and confirming documentation of loan restructure. The LWO is also responsible for recommending, documenting, implementing, and reporting on loan collection and litigation plans approved by the Bank's senior management.
DUTIES AND RESPONSIBILITIES:
Implement strategies for legal action through Bank Counsel after consultation with SAD Committee, and/or the Chief Credit Officer (CCO).
Develop, recommend, and execute work out strategies for a variety of commercial loan types as assigned and meet with or call upon customers for collection and, when necessary, to negotiate work out terms.
Monitor and report to Management the status of the assigned loans. Such reporting includes but is not limited to Problem Loan Reports (PLRs), past due loan reports, risk rating recommendations, and assessing loan loss potential.
Manage loan work out negotiations with bank counsel and borrowers and make necessary judgments to protect the bank's interest and achieve maximum recovery.
Prepare and present request for approvals for loan modifications, restructures, forbearance agreements and/or settlement agreements to Management.
Monitor collateral condition through inspections as needed
Review and assess potential impact of borrower bankruptcy filings; ensures protection of bank's position as a creditor.
Manage quarterly reporting for Special Assets Department (SAD) committee meeting including preparing Problem Loan Reports (PLRs), reviewing PLRs completed by other loan officers, and finalizing and compiling the final PLRs into a report for Division and Corporate management.
Manage all aspects of troubled loan relationships including risk rating downgrades, charge off's, non-accrual status changes and monitor monthly payment performance for non-performing loans through regular contact with borrowers.
Send demand letters and other communications on delinquent loans and loans out of compliance with loan covenants.
Work with outside legal counsel on litigation against borrowers that are in default to obtain repayment of delinquent loans via foreclosure and other collection efforts.
Responsible for the collection and sale of collateral and to ensure funds are applied to the loan.
Complete appropriate corporate forms and certifications around OREO / OPPA property, Bankruptcy tracking, BK and Charge Off coding in Silverlake, and delinquency property tax tracking.
Work with borrowers... For full info follow application link.
Glacier Bancorp is an Equal Opportunity Employer and qualified applicants or employees will receive consideration for employment without regard to race, color, religion, national origin, sex (including pregnancy), sexual orientation, gender identity, mental or physical disability, age, genetic information, protected veteran status, or any other category protected by appli cable federal, state or local laws.