Workout Officer I

Description
Position Summary
The Workout Officer is responsible for the management, remediation, and resolution of commercial and commercial real estate (CRE) loans exceeding $1MM, including bilateral and syndicated credits. This role focuses on risk mitigation, recovery maximization, and strategic restructuring of substandard, criticized, or non‑performing assets. The Workout Officer develops tailored action plans, negotiates complex solutions, ensures compliance with Credit Risk Management (CRM) policies, and protects the bank’s financial and reputational interests.
Key Responsibilities
Portfolio & Account Management

Manage an assigned portfolio of commercial and CRE loans over $1MM, ensuring timely administration of all credit, financial, and collateral requirements.
Develop comprehensive workout strategies that include timelines, milestones, exit options, and contingency plans.
Maintain all required credit, legal, and system files, ensuring accuracy, completeness, and compliance with internal standards.
Risk Mitigation & Credit Remediation

Identify emerging risks and recommend appropriate remediation strategies including restructuring, forbearance agreements, collateral enhancements, or enforcement actions.
Initiate and document non‑accrual decisions, ensuring adherence to bank policies and regulatory expectations.
Monitor covenant compliance, borrower performance trends, guarantor strength, legal status, and collateral conditions.
Analysis & Valuation

Perform detailed financial, collateral, legal, and enterprise value analyses for each loan.
Conduct appraisal reviews, cash‑flow modeling, collateral coverage assessments, and recovery projections.
Review field exam results and legal opinions to support workout strategies.
Negotiation & Resolution

Lead negotiations with borrowers, guarantors, attorneys, trustees, and third‑party advisors to achieve favorable resolutions.
Present the bank’s strategic positions clearly and persuasively to secure agreement on proposed solutions.
Reporting & Documentation

Prepare all required reporting, including:
Strategy memoranda
Problem Exposure Reviews
Annual reviews
Credit proposals and modification requests
Charge‑off forecasts
PD/LGD updates
Ensure timely and accurate submission of all internal and regulatory documentation. Vendor & Legal Coordination

Manage external service providers involved in valuations, auctions, legal processes, field exams, and collateral liquidation.
Ensure vendors deliver quality work that meets performance, cost, and compliance expectations.
Qualifications
Required

Bachelor’s degree in finance, Accounting, Economics, Business, or related field.
Minimum 3+ years of financial analysis, commercial credit, risk management, or loan workout experience.
Strong understanding of commercial and CRE loan structures, collateral types, and industry‑specific risks.
Proficiency in financial modeling, credit analysis, and valuation methodologies.
Excellent written and verbal communication skills.
Exceptional negotiation, problem‑solving, and time‑management abilities.
Proficiency with Microsoft Office (Excel, Word, PowerPoint).
Preferred

Master’s degree (MBA or related field).
Knowledge of bankruptcy law, UCC, litigation, liquidation processes, and SBA guarantee requirements.
Experience with syndicated credit documentation and large complex commercial relationships.
Competencies

Strategic Thinking – Ability to design complex recovery strategies.
Analytical Rigor – Strong credit, collateral, and valuation skills.
Influence & Negotiation – Ability to drive consensus with challenging counterparties.
Risk Judgement – Ability to balance recovery maximization with reputational and regulatory considerations.
Professional Communication – Clear, concise written and interpersonal communication.
Adaptability – Ability to manage shifting priorities and high‑volume workload.
Working Conditions

Standard office environment with periodic travel for borrower meetings, collateral inspections, or legal proceedings.
High‑visibility role requiring discretion, professionalism, and sound judgment.
Work Schedule
Hours per Week: 40 hours
Work Schedule: Monday-Friday
Pay Transparency
The salary range for this position is $113,000 - $151,000 per year, plus an opportunity to earn an annual discretionary bonus. Actual pay is based on various factors including but not limited to the work location, and relevant skills and experience.
We offer competitive pay, comprehensive medical, dental and vision coverage, retirement benefits, maternity/paternity leave, flexible work arrangements, education reimbursement, wellness programs and more. Note, Citizens’ paid time off policy exceeds the mandatory, paid sick or paid time-away policy of every local and state jurisdiction in the United States. For an overview of our benefits, visit https://jobs.citizensbank.com/benefits .
Some job boards have started using jobseeker-reported data to estimate salary ranges for roles. If you apply and qualify for this role, a recruiter will discuss accurate pay guidance.
Equal Employment Opportunity
Citizens, its parent, subsidiaries, and related companies (Citizens) provide equal employment and advancement opportunities to all colleagues and applicants for employment without regard to age, ancestry, color, citizenship, physical or mental disability, perceived disability or history or record of a disability, ethnicity, gender, gender identity or expression, genetic information, genetic characteristic, marital or domestic partner status, victim of domestic violence, family status/parenthood, medical condition, military or veteran status, national origin, pregnancy/childbirth/lactation, colleague’s or a dependent’s reproductive health decision making, race, religion, sex, sexual orientation, or any other category protected by federal, state and/or local laws. At Citizens, we are committed to fostering an inclusive culture that enables all colleagues to bring their best selves to work every day and everyone is expected to be treated with respect and professionalism. Employment decisions are based solely on merit, qualifications, performance and capability.
Why Work for Us
At Citizens, you'll find a customer-centric culture built around helping our customers and giving back to our local communities. When you join our team, you are part of a supportive and collaborative workforce, with access to training and tools to accelerate your potential and maximize your career growth
Posting End Date: 03/30/2026