Also called: Workout Officer, Loan Workout Specialist
Steps in when a business can't repay its bank loan and works out a plan to recover the money.
A restaurant group has missed three payments. You visit, review their books, negotiate a new payment plan and decide whether the bank should take the collateral. It is like being a doctor for sick loans.
Approximate: anchored on Bureau of Labor Statistics data for a broader job group.
Bachelor's degree (4-year), about 10 years after high school. Bachelor's in finance; years as a commercial lender or credit analyst.
Ways in: 4-year college, On-the-job training. Training cost: $15k – $60k.
Majors to look at: Finance, Accounting.
Growing about average (about 3% over 10 years). Tracks loan officers; busier when the economy slows.
Low risk for 10 years. AI flags troubled loans earlier, but negotiating with stressed owners, lawyers and courts to recover money needs human judgment.
Classes: Accounting, Business law, Debate, Economics.
Official data: O*NET occupation 13-2072.
Career Universe is an early version. Pay, training and AI-risk figures are estimates to start your own research, not verified facts. The research was written with AI research assistants, checked by validation scripts and spot-checked by hand. Check anything important with schools, employers and official sources. How the numbers work.