Banking & Commercial Loan Workout Manager jobs in New Jersey

The Loan Workout Specialist position is responsible for accurately and efficiently managing Loan Collections, developing payment plans for Non-performing Loans and developing asset disposition plans for Oreo properties. The Loan Workout Specialist must possess and demonstrate good organizational skills to ensure the completion of all required tasks and the maintenance of the files related to loan collections, non-performing loans, and Oreo properties. They must comply with all Bank policies and procedures, as well as all applicable state and federal banking regulations.

Job Skills Requirements:

• Must possess at least 5 - 7 years of experience in a commercial and residential loan environment.
• Incumbent must have an in-depth knowledge of non-performing and delinquent loan issues.
• This position requires extensive knowledge of computerized servicing systems and spreadsheet software applications.
• Effective communication skills are required to ensure that critical loan and property information is provided to customers, co-workers and required vendors (i.e., attorney’s).
• Ability to make decisions which may involve the payment of delinquent real estate taxes & assessments and repayment arrangements.
• Provide support, as needed, for the monitoring of all classified loans.

Job Duties:

• Coordination and collection of delinquent loan accounts with staff and outside legal counsel.
• Serve as the back-up for the Security Officer
• Secure properties and assist with the disposition of Oreo Properties including working with realtors.
• Ensure that Oreo properties have insurance coverage and that any maintenance issues are addressed. If Oreo properties are leased, ensure the tenant complies with the lease and the property is well maintained.
• Monitor classified loans and ensure that RAAP & NRV documents are completed for Credit Strategies and Asset Quality Meetings.
• Inspect properties (Oreo & classified) and provide reports.
• Act as Recording Secretary for the Director and Management Loan Committee meetings.
• Assist the BSA staff and inspect & provide reports for the MSB (check casher) customers.
• Provide support for NMLS issues as requested as a SAFE ACT officer.
• Assist with off-site audits of cash suppliers/couriers.
• Conduct property inspection to determine the validity/completion of insurance claim work.
• Perform all other duties as assigned.

We offer medical benefits, dental benefits, life insurance, 401K, paid vacation, personal and sick days.

Parke Bank is an Equal Opportunity Employer and participates in E-Verify.

Job Type: Full-time

Benefits:

• 401(k)
• Dental insurance
• Health insurance
• Life insurance
• Paid time off

Application Question(s):

• Do you have in-depth knowledge of non-performing and delinquent loan issues?

Experience:

• handling OREO properties: 1 year (Required)
• commercial and residential loan environment in banking: 6 years (Required)

Work Location: In person