SPECIAL ASSETS OFFICER

Summary: The principal function of the Special Assets Officer is to develop specific strategies to rehabilitate the credit returning the loan to standard credit status or developing an exit strategy for the credit. In addition, the Special Assets Officer will be responsible for managing a diverse portfolio of loan and OREO assets until liquidated.

Job Functions:

• Assess problem loan situations, develop, negotiate and execute resolution strategies to emphasize rapid resolution and minimization of loss to the bank. Ensures proper risk rating, accrual status, TDR status and other management reporting is maintained accurately and reflects current borrower financial capacity and willingness to repay as well as collateral adequacy, if any.
• Assess collateral adequacy and potential impairments by ensuring real estate appraisals are ordered and received timely, and that such appraisals are reflective of all property conditions impacting valuation. Other collateral is to be valued using appropriate valuation methodology.
• Directly manage specific problem loan accounts as well as assist loan officers with problem accounts in their portfolios. Provide oversight and management of accounts in bankruptcy and foreclosure, and collection. Responsible for reporting requirements for past due accounts, watchlist accounts, charge offs, and recoveries.
• Maintain effective collection efforts on previously charged off accounts and off-balance sheet notes.

Position Requirements:

• Five years or more of Special Assets collection, or related experience and/or training or equivalent combination of education or experience.
• Strong knowledge of Commercial, Commercial Real Estate, SBA and lending processes and regulations.
• Strong knowledge of credit underwriting.
• Solid understanding of collateral and loan documentation.
• Knowledgeable in financial institution operating policies and procedures and banking regulations state and federal.

Key Qualifications:

• Strong skill set in the use of computer software applications.
• Effective/strong written and verbal communication skills.
• Strong negotiation skills.
• Ability to establish and maintain interpersonal relationships.
• Ability to write reports and business correspondence.
• Effective time management and organizational skills.
• Must be able to work flexible hours and position will require some travel.

Job Type: Full-time

Benefits:

• 401(k)
• 401(k) matching
• Dental insurance
• Employee assistance program
• Employee discount
• Flexible spending account
• Health insurance
• Life insurance
• Paid time off
• Referral program
• Vision insurance

Schedule:

• Day shift

Work Location: In person