What are the responsibilities and job description for the Special Assets Officer position at b1BANK?
Summary
The Special Assets Officer is responsible for all aspects of administering a portfolio of troubled assets, including loans, Other Real Estate Owned and Other Assets.
Specific Job Functions
#Portfolio Manager
The Special Assets Officer is responsible for all aspects of administering a portfolio of troubled assets, including loans, Other Real Estate Owned and Other Assets.
Specific Job Functions
- Interface with clients in troubled loan situations in order to resolve the loan either by upgrade to satisfactory status or otherwise to liquidation.
- Manage loan portfolio in regulatory and bank policy compliance regarding appraisal requirements, financial statements, loan documentation, loan classification, etc.
- Communicate with and manage attorney relationships in the context of problem loan administration. This would include litigious situations including foreclosure, bankruptcy, countersuits, etc.
- Communicate complex loan approvals, denials or resolution plans to the borrower.
- Prepare and present loan packages to loan committee.
- Administer the portfolio with conscious regard to potential legal counterclaims.
- Formulate timely recommendations on proper loan classifications, chargeoffs and other credit administration issues.
- Prepare complete, thorough reports to management and bank examiners on the status of the portfolio and status of action plans relative to the portfolio.
- Bachelor’s degree in business, finance or related field required.
- Three (3) to five (5) years experience in a commercial banking setting required.
- Prior experience in Government Guaranteed/SBA lending preferred.
- Prior experience in commercial collections, especially commercial real estate, preferred.
- Proficiency in Microsoft Office.
- Knowledge of commercial lending policies and procedures including state and federal regulations.
- Strong organizational and interpersonal communication skills.
- Excellent oral and written communication skills to effectively communicate with internal staff and bank examiners.
- Strong financial and analytical skills.
#Portfolio Manager