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Workout Officer I


Boston, Massachusetts; Johnston, Rhode Island; Philadelphia, Pennsylvania; Chicago, Illinois

Req. Number: 222219

Full/Part Time: F

Shift: 1st Shift


Workout Officer I will directly manage their own book of loans in all facets of account management and loan administration and will do so in a fashion that consistently protects and preserves the Bank’s reputation. Actively manage a diverse portfolio of 10 to 20 C&I/CRE Credits, both bi-lateral and syndicated with individual Citizens Bank exposure averaging $5MM+.   This includes developing an action plan for each matter, inclusive of time lines, resolution targets and alternative strategies.   Obtain timely approvals of all strategies consistent with Citizens Bank & CRM guidelines and do so with concise and accurate written cases.  Duties also include maintaining credit files and securing required financial data.  Workout Officer I is also required to monitor and administer all outside vendors used in the disposition of the matter in a manner that ensures CRM is receiving adequate value for services received. Mitigate risk, minimize credit losses and maximize the return to the Bank on a substandard and criticized portfolio of mainly bi-lateral but also at times some syndicated assets. 

  • Internal & External Reporting –  Create, present and maintain all required internal and external reporting, including but not limited to Problem Exposure Reviews, Strategy and Credit Reviews, Individually Assessed Reserve evaluations, charge off forecasts, Credit Proposal Summary and modification requests, annual reviews, Probability of Default  & Loss Given Default ratings, Dashboard and all other Bank and regulatory requirements. All presentations will be completed in a concise and timely manner.
  • Negotiation – Devise and successfully negotiate timely resolutions for each asset under management. The Workout Officer III will do so in a fashion that maximizes the Bank’s return commensurate with the underlying risk and at all times protecting the Bank’s reputation in the market place.
  •  Analysis and Valuation – Perform routine enterprise, appraisal, collateral, net present value, legal and  field exam review analysis as part of the ordinary administration of the portfolio.


  • 3+ yrs expereince In financial, risk and collateral analysis.
  • 3+ yrs expereince In loan documentation and relevant Uniform Code and Bankruptcy considerations.
  • Highly developed at persuasively presenting the Bank’s thoughts and position to gain consensus and execute proposed solutions to remedy substandard and non-performing credits.
  • Deep understanding of industrial and regional influences applicable to the underlying portfolio. 
  • Excellent math and analytical skills.
  • Excellent communication skills both oral and written.
  • Excellent time management skills.
  • Adaptability to a high paced and challenging work environment.
  • Strong interpersonal skills.
  • Self motivated.
  • Strong computer skills, primarily Microsoft Office suite based.    


  • Bachelor’s degree required
  • Master’s Degree preferred

Hours and Work Schedule

Hours per Week: 40

Work Schedule: Monday-Friday

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.


We offer competitive pay, comprehensive medical, dental and vision coverage, retirement benefits, maternity/paternity leave, flexible work arrangements, education reimbursement, wellness programs and more.

View Benefits

Awards We've Received


Human Rights Campaign Best Places to Work for LGBTQ Equality


Dave Thomas Foundation Best Adoption-friendly Workplace


Noteworthy Company for Diversity


Military Friendly Employer

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