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Loan Work Out Specialist

Trandon Associates, Inc Old Bridge ,NJ
  • Expired: over a month ago. Applications are no longer accepted.
Job Description

The loan workout specialist provides proper and timely reporting to management according to bank policies and regulatory requirements. 

Essential Functions

  • Formulate workout strategies/plans and make recommendations to chief credit officer with supporting data, reasoning, and analysis.
  • Negotiate specific terms and conditions for substandard/non-performing loans; obtain additional/sufficient assets to collateralize loans; and restructure credit facilities to minimize risk.
  • Coordinate the preparation, review and execution of loan documents and agreements.
  • Monitor status of assigned portfolio to ensure compliance with action plans and terms and conditions of agreements.
  • Obtain and review financial statements, perform financial analysis, and monitor collateral; take appropriate remedial action when needed.
  • Coordinate the collection of financial statements, collateral valuations, business plans, and general business information to maintain the accuracy and timeliness of customer data and financial condition.
  • Develop and implement new policies and procedures to improve efficiency and effectiveness of loan workout and asset recovery.
  • Communicate with people outside the organization on a regular basis including regulators, auditors, customers, and attorneys.
  • Maintain technical and professional knowledge by attending educational workshops and training, and staying informed of any legal, policy and procedural changes relating to commercial lending.
  • Keep informed of industry changes, trends, and best practices, and assess the potential impact on processes and procedures.


Trandon Associates, Inc


Old Bridge, NJ