Commercial Special Assets Officer

About the role

The Special Assets Officer is responsible for managing and monitoring a portfolio of complex commercial loans. Responsibilities include developing collection strategies, action plans, negotiating, and implementing plans to maximize the bank’s recovery.

Responsibilities

• Develop collection strategies and action plans for problematic loans.
• Prepare detailed analysis and provide recommendations of the collection and action plans.
• Negotiate with borrowers, attorneys, and companies to review and re‑structure credit and repayment terms.
• Implement recovery plans that minimize risk and loss to the bank.
• Provide timely and accurate reporting to Special Assets Manager.
• Interact with the spectrum of commercial bank customers experiencing financial distress; displaying tact and persuasiveness.
• Interact frequently with lawyers and other outside professionals, both those retained by the Bank and those representing debtors, setting and pursuing the Bank’s agenda.
• Seek to minimize out‑of‑pocket legal and non‑legal expenses from debtors whenever possible; maximizes loan recoveries and fee income.
• Ensure BSA Compliance.

Qualifications

• Bachelor’s degree in Accounting or Finance or equivalent experience.
• Formal credit training.
• 5+ years of direct special assets experience.
• Active registration with the Nationwide Mortgage Licensing System & Registry (NMLS) as required by the SAFE Act (must attain active registration upon employment if not already).
• Knowledge of Microsoft Office.

Skills

• Strong oral and written communication skills.
• Knowledge of commercial, real estate, and consumer lending; particularly credit structure and loan policy.
• Knowledge of complex credits and strong knowledge of collateral valuation/liquidation.
• Understanding of regulatory agencies, third‑party loan review, and internal/external auditors.
• Knowledge of legal/regulatory requirements pertaining to banking and collections.
• Understanding of regulatory guidelines regarding appraisal/re‑appraisal and all other regulatory policies affecting classified/criticized assets.
• Strong negotiation skills.
• Ability to analyze credit and develop and negotiate repayment terms with companies and high net worth individuals.
• Ability to work independently and prioritize daily workflow.
• Ability to analyze and solve problems for which there are not precedents.
• Ability to maintain visual attention and mental concentration for extended periods of time.
• Ability to perform duties and make decisions under frequent time pressures.

Benefits

Base Pay Range: $103,000 - $134,000 per year. The role may be eligible for bonus or incentives based on company and individual performance.

• 401(k) match
• Profit sharing
• Employee stock purchase plan
• Paid time off
• Medical, dental, vision coverage
• Company‑paid life insurance and long‑term disability
• Supplemental voluntary life insurance
• Short‑term and long‑term disability
• Wellness incentives
• Employee assistance program
• Pre‑tax health savings accounts and flexible spending accounts (eligible associates)