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SAG Workout Officer IV-Cincinnati, Charlotte, Grand Rapids, or Chicago
SAG Workout Officer IV-Cincinnati, Charlotte, Grand Rapids, or Chicago-January 2024
Grand Rapids
Jan 10, 2025
About SAG Workout Officer IV-Cincinnati, Charlotte, Grand Rapids, or Chicago

  Make banking a Fifth Third better®

  We connect great people to great opportunities. Are you ready to take the next step? Discover a career in banking at Fifth Third Bank.

  GENERAL FUNCTION: Works in the Special/Unique group to assist and direct in the orderly liquidation/exit and rehabilitation of the very large and complex credits with a high dollar impact to the organization. To collaborate with the Portfolio Manager to maintain portfolio by monitoring credits to formulate and drive strategic plans to maximize the returns to the Bank.

  Responsible and accountable for risk by openly exchanging ideas and opinions, elevating concerns, and personally following policies and procedures as defined. Accountable for always doing the right thing for customers and colleagues, and ensures that actions and behaviors drive a positive customer experience. While operating within the Bank#s risk appetite, achieves results by consistently identifying, assessing, managing, monitoring, and reporting risks of all types.

  ESSENTIAL DUTIES AND RESPONSIBILITIES:

  Collection of past due accounts

  Formulate and execute exit strategies on the largest and most complex administrative loans

  Recommend/Negotiate best course of action on the largest and most complex Administrative Loans

  Collaborate with Portfolio Managers to obtain necessary financial information required to properly track financial covenants, exceptions and preparation of approvals

  Work closely/assist the Wholesale Line of Business on potential trouble credits

  Identification of potential loss on administrative credits

  Complete required reporting; such as ALSR's on administrative credits

  Maintain adequate credit/collateral files

  Identify when legal counsel is required given transaction complexity

  Serve as coach and mentor to junior workout officers

  Attend Admin Loan Meetings to present collection update and strategy

  Other duties as assigned

  #LI-GM1

  SUPERVISORY RESPONSIBILITIES: None.

  MINIMUM KNOWLEDGE, SKILLS AND ABILITIES REQUIRED:

  Bachelor's Degree in accounting, finance or economics preferred or equivalent work experience required

  Typically requires 10 years workout or related banking experience

  Deep understanding of credit policies, procedures and decisioning tools

  Knowledge of bankruptcy law and related legal proceedings

  Requires strong oral, written communication, and negotiation skills

  Ability to access, analyze and recommend the best course of action in difficult credit situations

  Possess analytical and problem solving skills

  PC proficiency with Windows based word processing and spreadsheet applications

  WORKING CONDITIONS:

  Normal office environment with little exposure to dust, noise, temperature and the like

  Extended viewing of a CRT screen

  Travel Required

  SAG Workout Officer IV-Cincinnati, Charlotte, Grand Rapids, or Chicago

  LOCATION -- Cincinnati, Ohio 45202

  Fifth Third Bank, National Association is proud to have an engaged and inclusive culture and to promote and ensure equal employment opportunity in all employment decisions regardless of race, color, gender, national origin, religion, age, disability, sexual orientation, gender identity, military status, veteran status or any other legally protected status.

  Introduce yourself to our team to stay connected on future opportunities. We look forward to finding the right place for you. Are you ready to take the next step?

  Fifth Third Bank, National Association is one of the top-performing banks in the country, with a history that spans more than 150 years. We’ve staked our claim on looking at things differently to make banking a Fifth Third better. This applies to our relationships with customers and employees alike.We employ about 18,000 people while offering:• A chance for employees to build their future, with supportive career development and comprehensive health and financial wellness programs.• An environment where we win together by celebrating achievements and working collaboratively.• An opportunity to make a difference in a positive and lasting way. Everything we do is geared toward improving lives.We’re proud that Fifth Third is a warm and caring place to grow – as a customer and as a team member.

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