Workout Officer III (US)
TD Bank · Portland, Maine, United States
Work Location:
Portland, Maine, United States of America
Hours:
40
Pay Details:
$115,440 - $173,160 USD
TD is committed to providing fair and equitable compensation opportunities to all colleagues. Growth opportunities and skill development are defining features of the colleague experience at TD. Our compensation policies and practices have been designed to allow colleagues to progress through the salary range over time as they progress in their role. The base pay actually offered may vary based upon the candidate's skills and experience, job-related knowledge, geographic location, and other specific business and organizational needs.
As a candidate, you are encouraged to ask compensation related questions and have an open dialogue with your recruiter who can provide you more specific details for this role.
Line of Business:
Risk ManagementJob Description:
The Workout Officer III performs workout of assigned adversely rated loans. Meetings with all but the most complex accounts, referring only unusual questions to department management. Responsible for the collection of assigned delinquent accounts for one or more types of loans.
Depth & Scope:
- 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
- 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
- Provides guidance and training to less experienced staff
- 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
- 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 complex account information and prepares project plan documentation for account file
- Performs in-depth financial analyses and collateral reviews
- Determines whether business plans and budgets are reasonable and attainable
- Reviews liquidation plans if applicable
- Coordinates with line management and other appropriate internal areas as necessary
- Develops complete workout plans which may include unusual specialized financing arrangements
- 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
- Coordinates documentation preparation, reviews documents and finalizes workout agreements with accounts
- Performs all of the functions of a Workout Officer I and II, but handles the most complex deals and has extensive knowledge of workout methods, procedures and techniques
- Performs workout of assigned adversely rated loans, meeting with the most complex accounts independently, while keeping department management informed
- Responds promptly to new and unusual business situations
- Works independently and autonomously
Education & Experience:
- Bachelor's degree or progressive work experience in addition to experience below
- 5-7 Years of related experience
- Strong credit analysis skills
- Ability to read, understand and interpret complex financial statements
- Strong understanding of a wide variety of complex and unusual financing arrangements
- In-depth understanding of workout strategies and techniques
- Strong negotiation skills
- Strong Communication skills, both verbal and written
- PC skills
Customer Accountabilities:
- Understands and supports the Bank's Customer Service Strategy
- Considers the impact of decisions on the well-being of TD, its Customers and stakeholders
- Provides the highest level of Customer service when dealing with internal partners, vendors or our Customers - WOW at every opportunity
- Models quality service delivery at every interaction
- Leads and contributes to the ongoing improvement of the partner / Customer experience
Employee/Team Accountabilities:
- Be engaged in advancing and sustaining a unique, inclusive culture that reflects TD's diversity agenda, and create an extraordinary employee experience
- Participates fully as a member of the team and contribute to a positive work environment
- May provide leadership, training, and guidance to other team members
- Ensures ongoing communication with the team on the status / progress of projects and issues / points of interest
- Actively shares information and knowledge, and proactively learn from the expertise of others
Physical Requirements:
Never: 0%; Occasional: 1-33%; Frequent: 34-66%; Continuous: 67-100%
- Domestic Travel – Occasional
- International Travel – Never
- Performing sedentary work – Continuous
- Performing multiple tasks – Continuous
- Operating standard office equipment - Continuous
- Responding quickly to sounds – Occasional
- Sitting – Continuous
- Standing – Occasional
- Walking – Occasional
- Moving safely in confined spaces – Occasional
- Lifting/Carrying (under 25 lbs.) – Occasional
- Lifting/Carrying (over 25 lbs.) – Never
- Squatting – Occasional
- Bending – Occasional
- Kneeling – Never
- Crawling – Never
- Climbing – Never
- Reaching overhead – Never
- Reaching forward – Occasional
- Pushing – Never
- Pulling – Never
- Twisting – Never
- Concentrating for long periods of time – Continuous
- Applying common sense to deal with problems involving standardized situations – Continuous
- Reading, writing and comprehending instructions – Continuous
- Adding, subtracting, multiplying and dividing – Continuous
The above statements are intended to describe the general nature and level of work being performed by people assigned to this job. They are not intended to be an exhaustive list of all responsibilities, duties and skills required. The listed or specified responsibilities & duties are considered essential functions for ADA purposes.
Who We Are:
TD is one of the world's leading global financial institutions and is the fifth largest bank in North America by branches/stores. Every day, we strive to make every interaction, product, and experience remarkably human and refreshingly simple for over 27 million households and businesses in Canada, the United States and around the world. More than 95,000 TD colleagues bring their skills, talent, and creativity to foster deeper relationships, ensure disciplined execution, and build a simpler, faster banking experience. TD is deeply committed to being a leader in client experience, that is why we believe that all colleagues, no matter where they work, are client facing. Together, we are reimagining what banking can be for our clients, colleagues and communities.
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