Loan Workout Officer - Fairfield, NJ
 Valley National Bank | |
 United States, New Jersey, Fairfield | |
 Feb 27, 2026 | |
|
Responsibilities include but are not limited to:
* 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 escalate 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. | |