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Company Contact Info

  • Westfield, NJ 07090

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Loan Workout Officer

Two River Community Bank • Westfield, NJ

Posted 10 days ago

Job Snapshot

Experience - At least 5 year(s)
Degree - 4 Year Degree
Banking - Financial Services
Relocation - No


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Job Description

Two River Community Bank is headquartered in Tinton Falls, NJ and currently operates 14 branch locations and two loan production offices located in Monmouth, Middlesex, Union and Ocean Counties.

We are currently seeking a loan workout officer based in our Westfield office.



Responsible for the portfolio monitoring and reporting functions of the bank’s loan portfolio including oversight of Loss Mitigation and Collection activities.  Manage assigned portfolio of problem loans and assist Workout Manager on all other department loans and portfolio surveillance responsibilities to ensure portfolio performance quality.


  • Manage the administrative, reporting and collection functions for Loan Workout including management of the staff.

  • Responsible to the SLO for the oversight of the Allowance for Loan Loss methodology and calculation, including all related public disclosures concerning non-performing loans and other real estate owned.  Monitor the preparation by the AVP/ Portfolio Manager of the Allowance for Loan Loss reporting on a monthly basis and the quarterly collateral risk analysis including Fas 114 impairment analysis on all adversely rated loans.

  • In conjunction with the Loan Workout Manager, provides the annual budget projections for Impaired, OREO and departmental expenses. Provides projections to CFO on a monthly basis to meet accounting accrual requirements.

  • Responsible for adherence to laws, regulations, policies and procedures for all functions of Loan Workout including collections. Ensure compliance with consumer laws in the collection of delinquent consumer loans.

  • Manage a portfolio of problem loans and assist Workout Manager with recommendations in the workout and foreclosure process, including Troubled Debt Restructurings, Forbearance Agreements and Deeds-In-Lieu of Foreclosure. Assists with management of the OREO portfolio and works closely with attorneys to resolve loan issues.

  • Responsible for the department’s preparation for and response to audits.

  • Completing other tasks as assigned.


Adheres to proper regulatory compliance practices inherent in this position’s responsibilities by following departmental policies and procedures, completing compliance training as assigned and questioning any areas of uncertainty regarding proper regulatory processes.

Job Requirements

Job Qualifications:

  • College Degree (B.S./B.A.) or equivalent job experience
  • 5 years Commercial Banking/Loan Workout experience
  • Knowledge of banking products, banking procedures and guidelines


Other Skills/Qualifications:


  • Proficient in Microsoft Office
  • Problem Solving and problem resolution skills
  • Strong oral and written communication skills
  • Ability to work independently
  • Excellent interpersonal skills
  • Professional demeanor and appearance

Interested applicants should send their resume and salary requirements to: [Click Here to Email Your Resumé]

Two River Community Bank is an Equal Opportunity Employer of women, minorities, protected veterans and individuals with disabilities, sexual orientation and gender identity.

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Loan Officer

Westfield, NJ