Special Assets and Lending Workout Officer

Job Overview

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Compensation

Salary
Range $110,000.00 - $125,000.00
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Benefits

Health Insurance
Vision Insurance
Dental Insurance
401k with employer match
Hybrid work
employee appreciation events
Employee assistance program
wellness programs
Tuition Reimbursement
Employee discount perks
community service events

Job Description

ConnectOne Bank is a progressive financial institution committed to the philosophy that putting people first leads to exceptional business results. Established in 2005 by an entrepreneur, the bank has rapidly evolved into a high-performing commercial bank that champions innovation and community-building initiatives. At ConnectOne, the focus lies in fostering an empowered workforce where employees are encouraged to take initiative, harness their full potential, and contribute meaningfully to the company's overall mission. This growth-centric environment aligns with the bank's dedication to serving small businesses and individual clients by providing world-class banking services supported by advanced technological solutions. The culture at ConnectOne is deeply rooted in the "People First" approach, shaping every decision, interaction, and strategy. This ethos creates a vibrant, inclusive, and stimulating workplace where team members thrive professionally and personally, and the bank remains a pillar of strength and reliability in the communities it serves. ConnectOne Bank is an Equal Housing and Equal Opportunity Lender and a proud member of the Federal Deposit Insurance Corporation (FDIC).

The Special Assets and Lending Workout Officer role at ConnectOne Bank is key to managing and mitigating the risks associated with troubled loans. This position demands a deep understanding of lending practices, regulatory compliance, and asset management to protect the bank's financial interests and promote recovery from non-performing loans. As a member of the team, you will uphold the bank’s core values by providing exceptional service to clients while managing complex loan workouts that require careful evaluation, negotiation, and coordination with various internal and external stakeholders. This role entails overseeing delinquent loan portfolios, recommending workout strategies, and maintaining thorough documentation in adherence to relevant laws and policies. Your work will support the bank’s stability and growth by minimizing losses, preserving collateral, and ensuring regulatory compliance. This opportunity is ideal for professionals who possess strong problem-solving skills, attention to detail, and a proactive mindset focused on collaborative success. The position offers the chance to engage in meaningful work that balances analytical rigor with relationship management in a supportive, people-first culture. Benefits include health, vision, and dental coverage from day one, 401k with employer match, flexible hybrid work arrangements depending on the role, various employee appreciation activities, wellness and employee assistance programs, tuition reimbursement, employee discount perks, and community service event participation. ConnectOne encourages applicants from diverse backgrounds who are eager to evolve their skills and contribute to making the bank "a better place to be."

Job Requirements

  • Bachelor's degree in a relevant field preferred
  • Minimum of 3 years experience in loan workout or special assets managing
  • Expert knowledge of relevant federal and state banking regulations
  • Familiarity with bank security and safety practices
  • Working knowledge of consumer, commercial, and commercial real estate lending and regulatory compliance
  • Strong negotiation and conflict resolution skills
  • Ability to multitask and manage detailed workload effectively
  • Demonstrated problem-solving skills and sound decision making
  • Attention to detail
  • Commitment to the bank's people first culture

Job Qualifications

  • Bachelor's degree in finance, business administration, or related field preferred
  • Minimum of 5 years experience in workout lending or special assets management preferred
  • Expert knowledge of federal and state banking regulations
  • Proficiency in collections, foreclosure, and bankruptcy procedures
  • Strong negotiation and conflict resolution skills
  • Excellent organizational skills with the ability to multitask
  • Proven problem-solving and decision-making capabilities
  • Familiarity with commercial, consumer, and commercial real estate lending compliance
  • Knowledge of bank products and services preferred
  • Strong interpersonal skills with a people-first approach

Job Duties

  • Support the bank's people first focus and rules of engagement by maintaining a professional demeanor and providing excellent client service
  • Implement approved loan collection and litigation plans, including risk mitigation measures and document loan restructures
  • Evaluate assigned loans, borrowers, and guarantors to assess risk and performance
  • Review loan documentation for errors and deficiencies to ensure compliance
  • Serve as an asset manager for assigned loan relationships aiming to improve loan status and performance
  • Develop and recommend workout strategies to protect the bank's interests and maximize recovery
  • Monitor and report the status of assigned loans to senior management including past due reports and risk rating recommendations

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