Workout officer - Fairfield, NJ

Loan Workout Officer

Fairfield, New Jersey, United States

At Valley Bank, we believe in people's growth potential. We invest in it. We protect it. We focus it. For nearly 100 years, we've been the Bank that clients from every industry turn to for our expertise, strategies, and advice--building the kind of trust that can fuel every goal. We are the leading relationship bank built for growth--with over $60 billion in assets, 3,800 experts, and more than 200 consumer branches and commercial banking offices in communities across the US.

At Valley, we're all driven by an ambition that goes deeper than just having a job. That's why when you work for us, we make it our goal to help you focus on what drives you--working to turn your passions and strengths into assets you can use to propel your ambitions and build the professional legacy you want. Because when we say we're a relationship bank built for growth, that's not just reserved for our clients--that includes all our associates as well.

The Workout Officer is responsible for strategic management and resolution of criticized and distressed commercial credit relationships. This role requires decisive leadership, advanced credit acumen, and the ability to drive complex negotiations designed to protect the Bank's interests while maximizing recovery. The Workout Officer serves as a key partner to senior leadership, legal, and credit risk, ensuring timely, disciplined actions on high risk exposures.

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• Lead the end to end management of a portfolio of criticized, classified, and non performing commercial loans.
• Develop and execute strategic and legal action plans for each relationship, for cost effective maximum recovery for the bank.
• Maintain strict oversight of financial performance, covenant compliance, collateral integrity, and borrower-operating trends.
• Identify emerging risks early and take immediate corrective action to minimize loss exposure.
• Conduct financial, cash flow, collateral, and global exposure analyses to determine the most effective workout strategy.
• Recommend forbearance structures, repayment strategies, liquidations, or exits based on quantitative and qualitative assessments.
• Prepare clear, defensible credit memoranda and recommendations for senior credit authorities.
• Lead negotiations with borrowers, guarantors, and third parties with a firm, disciplined approach that prioritizes the Bank's recovery and risk position.
• Establish performance expectations, enforce compliance timelines, and elevate when borrowers fail to meet requirements.
• Build professional but authoritative borrower relationships that drive transparency and accountability.
• Partner closely with internal and external legal counsel on litigation, bankruptcy, foreclosure, receivership, and other enforcement actions.
• Ensure full adherence to regulatory guidance, including OCC requirements for problem loan oversight, classification accuracy, and documentation integrity.
• Maintain complete and audit ready files, action plans, and system records.
• Provide clear direction and subject matter expertise to internal partners, including credit risk, operations, valuation teams, and senior management.
• Communicate credit deterioration, strategic options, and projected losses with precision and urgency.

• Strong command of commercial credit, financial statement analysis, and collateral valuation.
• Proven experience resolving complex distressed credits and negotiating restructures.
• High level of judgment, assertiveness, and decision making ability.
• Excellent written and verbal communication skills, especially in high stakes borrower and attorney interactions.
• Ability to manage a high volume of criticized relationships while maintaining accuracy, timeliness, and regulatory compliance.
• Ability to use basic computer programs such as Word, Excel, Teams, Zoom and Outlook.
• The ability to review and understand documents such as notes, guaranties, security agreements and mortgages, and the meaning and significance of provisions and terms contained therein.
• Understanding of legal proceedings and terms.
• Excellent organizational…