Special Assets Officer III

About the role

Responsible for the effective management of a portfolio of 15 - 20 commercial loan workout relationships with an average size of >$2.5MM with diverse scope and complexity. Ensures timely resolution of transactions while preserving principal, obtaining fee income and expense reimbursements. Establishes action plans with specific resolution target dates and promptly conveying recommendations on adjustments for risk ratings, loss recognitions or write-offs and accrual status.

Responsibilities

• Effectively manages an assigned portfolio of commercial loan workout relationships.
• May work closely with officials of both lending and borrowing institutions to develop feasible, timely workout strategies; restructuring credit and repayment terms, better securing collateral or establishing recourse to other borrower assets.
• Covers coordination with tax, legal, audit, and credit/loan policy departments as necessary to ensure compliance of negotiated workout agreements, with established company policies and regulatory agencies ordinances.
• Covers coordination of the enforcement of banks' rights and remedies if negotiated workout plan proves not feasible and/or further default ensues.
• Attends bank judicial proceedings as required.
• Covers coordination and establishment of liquidation value of bank collateral in conjunction with liquidators, appraisers and other professionals.
• Prepares management reporting and maintain credit file documentation.
• Timely recommends risk rating adjustments as needed, updating loan loss recognition, and required accruals.
• Maintains monitoring of covenant compliance, ensures required financial reporting, and resolves any documented exceptions.
• Maintains monitoring of the collection and ensures the correct application of recovered funds.
• Covers coordination of the proper implementation of workout plans with loan review, accounting, and other relevant departments.
• Interacts regularly with peers in other functional areas, managers, and customers.
• Interacts with controversial situations or trying to influence actions.
• Maintains a good working relationship with bank employees.
• Demonstrates a strong ability to work as a team player to contribute to the success of the branch and in turn, the organization.

Requirements

Requires a four-year degree. Degree in Accounting, Business Administration or Finance preferred. Requires 10 plus years directly related work experience (including 5 plus years workout and 5 plus years lending).

Qualifications

The primary parts of the body involved in performing these tasks are the fingers, hands, thumb, wrists, elbow, legs, lower, and upper torso and feet. Sitting is required 90% of the day in a leaning position. Walking is required 10% of the day, which is slow in speed. Performs repetitive movements for typing up to 30% of the business day. Specific vision requirements include close vision of 18”-20” for computer work. Business travel is required to meet customers, attorneys, and consultants (usually same day travel).

Skills

N/A

Benefits

N/A

Pay

$65,000.00 - $161,700.00

Schedule

Monday - Friday 8AM-5PM (Additional hours as necessary to meet the objectives of the department)