Recovery Officer

Work Location:

Greenville, South Carolina, United States of America

Hours:

40

Pay Details:

$68,640 - $102,960 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 I, Recovery/Collections 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:

• Works with more routine troubled accounts.
• Accompanies more experienced staff on account meetings and provides input and assistance as appropriate
• May make independent account visits for smaller, less complex accounts.
• Meets with accounts and gathers financial, collateral, budget, business plan and other general business information
• Explains workout process to accounts and compiles necessary information to complete analysis
• Evaluates account information and prepares develops plan for resolution of loans
• Executes workout plan of assigned adversely rated loans
• Performs financial analyses and collateral reviews
• Determines whether business plans and budgets are reasonable and attainable. Reviews liquidation plans if applicable
• May negotiate with borrowers, principals, debtor Company management, attorneys, accountants, consultants, and others to secure appropriate repayment on loans for less complex agreements within parameters defined by workout decisions agreed upon with department management
• Coordinates documentation preparation, reviews documents and finalizes workout agreements with accounts
• Performs more routine financial analyses and collateral reviews, evaluates budget feasibility, consults with more experienced staff to make recommendations on workout terms to recover principal, interest and collection costs subject to department manager approval as necessary and communicates with accounts to finalize agreements
• May coordinate with outside attorneys for less complex accounts, utilizing knowledge of legal guidelines and industry practices to limit attorney time
• Monitors status of assigned accounts on an ongoing basis to ensure compliance with workout agreements; reviews financial statements, meets with Customers, checks on collateral and takes appropriate action as needed
• Ensures the accuracy and maintenance of Customer records and files and updates information as needed

Education & Experience:

• Bachelor's degree or progressive work experience in addition to experience below
• 1-2 years related experience
• Credit analysis skills
• Ability to read, understand and interpret financial statements and tax returns
• Familiarity with a variety of commercial loans
• Understanding of workout strategies and techniques
• Strong negotiation and communication skills
• Strong Communication skills, both verbal and written
• Strong PC skills

Customer Accountabilities:

• Understands and supports the Bank's Customer Service Strategy
• Considers the impact of decisions on the well-being of TD, its Customers and stakeholders
• Provides the highest level of Customer service when dealing with internal partners, vendors or our Customers - WOW at every opportunity
• Models quality service delivery at every interaction
• Leads and contributes to the ongoing improvement of the partner / Customer experience

Employee/Team Accountabilities:

• Be engaged in advancing and sustaining a unique, inclusive culture that reflects TD's diversity agenda, and create an extraordinary employee experience
• Participates fully as a member of the team and contribute to a positive work environment
• May provide leadership, training, and guidance to other team members
• Ensures ongoing communication with the team on the status / progress of projects and issues / points of interest
• Actively shares information and kn