Loan Workout Officer

Quaint Oak Bank is hiring an experienced Loan Workout Officer.

Join a growing organization that offers excellent opportunities for career growth, a team atmosphere, and a competitive benefits package!

Location: Remote

Position Summary: Quaint Oak Bank is a growing community bank seeking an experienced Loan Workout Officer to manage and resolve distressed loan accounts. This role involves working closely with borrowers to restructure loans, mitigate losses, and ensure compliance with regulatory requirements. The Loan Workout Officer will analyze financial information, develop workout strategies, and negotiate terms to achieve optimal outcomes for both the borrower and the bank.

Key Responsibilities:

• Assess and manage a portfolio of distressed loans.
• Conduct thorough financial analysis of borrowers' situations.
• Develop and implement loan workout strategies.
• Negotiate loan terms and conditions with borrowers.
• Collect on delinquent loans and work with borrowers to bring accounts current.
• Recover all types of loans offered by the bank, including Commercial, SBA, and Consumer.
• Collaborate with legal, compliance, and other departments to ensure regulatory compliance.
• Monitor and report on the status of workout plans.
• Provide recommendations for loan modifications, extensions, or other resolutions.
• Maintain detailed records of all interactions and agreements with borrowers.
• Stay updated on industry trends and regulatory changes.
• Other duties as assigned.

Required Skills and Abilities:

• Bachelor's degree in finance, business, or equivalent experience.
• Minimum of 5 years’ experience in loan workout, credit analysis, or related areas.
• Strong analytical and problem-solving skills.
• Excellent negotiation and communication skills.
• Solid knowledge of federal regulations surrounding consumer collections and loan workouts.
• Knowledge of federal regulations for Commercial, SBA and Consumer loans.
• Knowledge of regulatory requirements and industry best practices.
• Ability to work independently and as part of a team.
• Proficiency in financial analysis software and tools.
• Strong Customer Service skills.
• Strong attention to detail.
• Solid computer skills including Microsoft Word, Microsoft Excel, Microsoft Outlook.
• Strong time management and organizational skills with the ability to prioritize.

Quaint Oak Bank and/or its subsidiaries is an affirmative action and equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, creed, religion, ancestry, citizenship status, age, sex, sexual orientation, gender identity, marital status, national origin, disability or veteran status. Quaint Oak Bank and/or its subsidiaries is committed to providing access, equal opportunity and reasonable accommodation for individuals with disabilities in employment. To request a reasonable accommodation, contact Rachel Schmahl at 610.798.6111 or rschmahl@quaintoak.com.