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 Management Job 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…