Recovery & Asset Management Officer

Position Summary

The Recovery & Asset Management Officer is responsible for maximizing recovery on charged-off commercial and real estate loans while minimizing loss exposure to the Bank. This position manages complex recovery efforts that require extensive legal involvement, including litigation, court proceedings, judgments, bankruptcies, foreclosures, collateral liquidation, and negotiated settlements. The Officer serves as a liaison with outside counsel, courts, borrowers, guarantors, and third-party vendors to develop and execute effective recovery strategies.

Essential Duties And Responsibilities

• Execute recovery efforts for charged-off commercial and real estate loans, implementing strategies to maximize recovery and reduce loss exposure.
• Negotiate loan settlements, repayment arrangements, discounted payoffs, collateral liquidations, deeds in lieu of foreclosure, and other resolution strategies with borrowers and guarantors.
• Cook up foreclosure, bankruptcy, litigation, judgment enforcement, repossession, and collection activities through direct involvement and management of outside legal counsel.
• Represent the Bank's interests in legal proceedings, including court hearings, mediations, depositions, creditor meetings, and settlement conferences, as appropriate.
• Monitor and pursue collection remedies on charged-off relationships, including execution on judgments, attachment of assets, garnishments, and other creditor rights actions.
• Review and analyze legal documents, court filings, bankruptcy plans, collateral valuations, title reports, and financial information to assess recovery opportunities and legal risks.
• Maintain relationships with attorneys, appraisers, auctioneers, real estate brokers, asset recovery firms, and other third-party vendors involved in recovery efforts.
• Aid in residential and commercial loss mitigation activities, including loan modifications, repayment plans, forbearance agreements, short sales, and other workout solutions.
• Support the administration of foreclosure and bankruptcy portfolios by evaluating workout alternatives, preparing recommendations, and ensuring appropriate servicing actions are taken.
• Conduct financial analysis of distressed borrowers to identify viable workout, restructuring, or recovery strategies and provide recommendations to management.
• Maintain accurate documentation, portfolio reporting, and recovery records while ensuring compliance with applicable laws, regulations, investor requirements, and Bank policies.
• Provide support to the Appraisal Review Manager as needed, including assisting with appraisal review-related tasks, documentation, follow-up, and other related activities to support the Bank’s collateral valuation process.

Basic Qualifications

• Bachelor’s degree in Business, Finance, Accounting, Legal Studies, Criminal Justice, or a related field, or an equivalent combination of education and relevant experience.
• Minimum of 5 years of experience in commercial loan workouts, special assets, collections, loan recovery, bankruptcy administration, foreclosure management, creditor rights, or a related financial services field.
• Demonstrated experience managing legal collections, litigation, court proceedings, bankruptcy cases, foreclosures, and post-judgment recovery actions.
• Strong working knowledge of commercial lending, real estate lending, loan documentation, collateral perfection, creditor rights, and collection remedies.
• Experience coordinating with attorneys, court systems, trustees, government agencies, and third-party vendors involved in recovery and asset disposition activities.
• Knowledge of bankruptcy laws, foreclosure processes, deficiency recovery, judgment enforcement, and debtor-creditor law.
• Experience analyzing borrower financial statements, tax returns, collateral valuations, and repayment capacity to support workout and recovery decisions.
• Strong negotiation and conflict-resolution skills with the ability to effectively manage difficult borrower and legal situations.
• Excellent written and verbal communication skills, including the ability to prepare professional correspondence, legal referrals, and management reports.
• Strong organizational skills with the ability to manage a portfolio of complex, high-risk credits while meeting deadlines and regulatory requirements.
• Proficiency with Microsoft Office applications and loan servicing, collections, or special assets management systems.
• Valid driver's license and ability to travel as necessary for court appearances, property inspections, borrower meetings, and legal proceedings.

Preferred Qualifications

• Juris Doctor (JD), paralegal certification, or formal legal training.
• Experience within a bank, credit union, commercial finance company, or loan servicer.
• Knowledge of residential mortgage loss mitigation, including loan modifications, foreclosure alternatives, bankruptcy management, and investor or government program requirements.

Skills And Abilities

• Solid knowledge of internet software; Microsoft Office Products, with an emphasis on Excel Spreadsheets.
• Ability to add, subtract, multiply, and divide in all units of measure, using whole numbers, common fractions, and decimals.
• Ability to compute rate, ratio, and percent as well as draw and interpret bar graphs.
• Ability to effectively present information in a one on one and small group situation of customers, courts, legal and preservation vendors, investors, and other stakeholders of the organization.
• Ability to apply common sense understanding to carry out detailed and involved written and/or oral instructions.
• Ability to deal with problems involving many variables in a variety of situations.
• Strong ability to interpret specific policies, procedures, laws, and regulations.
• Ability to effectively present information in a one on one and small group situation of customers, courts, legal and preservation vendors, investors, and other stakeholders of the organization.

Supervisory Skills

This role will be an individual contributor with no direct reports.

Pursue a career at Camden National Bank and apply today. We can't wait to hear from you!

Our comprehensive total rewards package offers something for everyone!

• Robust medical, dental, and vision insurance packages
• Generous time off, including paid federal holidays and paid day off for your birthday
• 401(k) retirement savings plan
• Tuition reimbursement, professional development, and career growth opportunities
• Employee assistance program
• Comprehensive wellness program

Learn more about why employees love working at Camden National Bank!