How much does a Loan Workout Officer II make in Rhode Island? The average Loan Workout Officer II salary in Rhode Island is $96,631 as of February 26, 2024, but the range typically falls between $80,711 and $113,890. Salary ranges can vary widely depending on the city and many other important factors, including education, certifications, additional skills, the number of years you have spent in your profession.

Loan Workout Officer II Salaries by Percentile
Percentile Salary Location Last Updated
10th Percentile Loan Workout Officer II Salary $66,217 RI February 26, 2024
25th Percentile Loan Workout Officer II Salary $80,711 RI February 26, 2024
50th Percentile Loan Workout Officer II Salary $96,631 RI February 26, 2024
75th Percentile Loan Workout Officer II Salary $113,890 RI February 26, 2024
90th Percentile Loan Workout Officer II Salary $129,604 RI February 26, 2024
25% $80,711 10% $66,217 90% $129,604 75% $113,890 $96,631 50%(Median) Didn’t find job title? Click
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What skills does a Loan Workout Officer II need?

Each competency has five to ten behavioral assertions that can be observed, each with a corresponding performance level (from one to five) that is required for a particular job.

1.

Customer Service: Customer service is the provision of service to customers before, during and after a purchase. The perception of success of such interactions is dependent on employees "who can adjust themselves to the personality of the guest". Customer service concerns the priority an organization assigns to customer service relative to components such as product innovation and pricing. In this sense, an organization that values good customer service may spend more money in training employees than the average organization or may proactively interview customers for feedback. From the point of view of an overall sales process engineering effort, customer service plays an important role in an organization's ability to generate income and revenue. From that perspective, customer service should be included as part of an overall approach to systematic improvement. One good customer service experience can change the entire perception a customer holds towards the organization.

2.

Futures: Futures are derivative financial contracts obligating the buyer to purchase an asset or the seller to sell an asset at a predetermined future date and set price.

3.

Tax Return: Calculating an entity’s income earned with the amount of tax payable to the government, organizations, or potential taxpayers.

Customer Service 7.06%
Futures 2.22%
Tax Return 1.27%
Others 89.45%

Job Description for Loan Workout Officer II

Loan Workout Officer II restructures loans; works with lending personnel and borrowers to better secure collateral and/or assets of the borrower and to facilitate collection. Works with mid- and large-size loans of medium to high complexity. Being a Loan Workout Officer II analyzes financial data and provides required reporting. May specialize in a particular loan type or industry. Additionally, Loan Workout Officer II typically requires a bachelor's degree. Typically reports to a manager or head of a unit/department. The Loan Workout Officer II gains exposure to some of the complex tasks within the job function. Occasionally directed in several aspects of the work. To be a Loan Workout Officer II typically requires 2 to 4 years of related experience. (Copyright 2024 Salary.com)... View full job description

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Job Openings for Loan Workout Officer II in Rhode Island

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Location Avg. Salary Date Updated
Location Coventry, RI Avg. Salary $96,907 Date Updated February 26, 2024
Location Cumberland, RI Avg. Salary $97,091 Date Updated February 26, 2024
Location East Providence, RI Avg. Salary $97,091 Date Updated February 26, 2024
Location Narragansett, RI Avg. Salary $97,514 Date Updated February 26, 2024
Location Tiverton, RI Avg. Salary $98,014 Date Updated February 26, 2024
Location Westerly, RI Avg. Salary $98,109 Date Updated February 26, 2024
Location Woonsocket, RI Avg. Salary $96,999 Date Updated February 26, 2024
Location Adamsville, RI Avg. Salary $97,983 Date Updated February 26, 2024
Location Albion, RI Avg. Salary $97,091 Date Updated February 26, 2024
Location Ashaway, RI Avg. Salary $98,319 Date Updated February 26, 2024

Career Path for Loan Workout Officer II

A career path is a sequence of jobs that leads to your short- and long-term career goals. Some follow a linear career path within one field, while others change fields periodically to achieve career or personal goals.

For Loan Workout Officer II, the first career path typically starts with a Commercial Loan Workout Officer III position, and then progresses to Commercial Loan Workout Officer IV.

Additionally, the second career path typically starts with a Loan Workout Officer III position, and then progresses to Banking & Commercial Loan Workout Manager.

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Loan Workout Officer II Salary in Rhode Island
Loan Workout Officer II Salary Graph, Regional Distribution and Summary