Special Assets Manager

Compensation for this position is commensurate with experience. The posted range is intended to provide a general estimate and does not guarantee a specific rate of pay.

The Special Assets Manager performs a variety of collection and administrative duties in support of the Hometown Financial Group (HFG) Special Assets team in conformance with CFPB (Federal Consumer Collections Regulations), State Consumer Collections Regulations and Secondary Market compliance, in addition to Bank policies and procedures.  Delivers extraordinary customer service while maintaining a high level of confidentiality and professionalism. Completion of daily responsibilities while effectively managing time to complete special projects and provide guidance and support to HFG Special Assets Team Members. 

The Special Assets Manager is responsible for all aspects of the collection and recovery efforts of all commercial, consumer and residential mortgage loans.  The Special Assets Manager is responsible for minimizing loss due to delinquencies and defaults on all bank loans as well as serviced by the Bank for investors and loan participants. All tasks are performed in compliance with the established Loans, Bank policies and procedures and in accordance with all Fair Lending Regulations.

PRIMARY ACCOUNTABILITIES / RESPONSIBILITIES: 

• Responsible for all activities and procedures related to criticized and delinquent loan management. 
• Preparation and delivery of reports and analytics to investors, management and Board of Directors documenting past due loan status, plan for resolution, collections efforts, and classified asset updates. 
• Production of monthly/quarterly Classified Asset Reports using Loan Vantage for relationships assigned to Special Assets. 
• Recommends modifications, charge offs, foreclosure, asset seizure or other loss mitigation strategies when necessary. Communicates closely with Bank counsel to ensure all required steps are completed, including the states where mediations are required. 
• Responsible for Commercial and Residential Non-Escrow and Escrow delinquency notifications. Confirms outstanding balances to ensure all unpaid municipal liens are paid by the borrower or within the scope of an approved payment plan. 
• Responsible for monitoring Commercial Real Property and Flood insurance cancellation notices and notifying Lenders to ensure all insurance policies are in force. 
• Submission of claims to SBA.  
• Responds to all telephone inquiries promptly and courteously. Ensures that all customer complaints, requests, and problems are handled in an efficient and timely manner. Follows-up to ensure that customers are satisfied with resolution and service. 
• Monitor loan files for compliance with internal policies/procedures and Federal/State regulations. Prepare document request list and respond to audit and compliance findings. 
• Maintains ongoing knowledge of industry, investor and regulatory (state and federal) loss mitigation requirements, loan products, consumer/residential collection and lending regulations, and trains other loan officers and bank staff as required. Attends trainings as they become available and relevant. 
• Assists/manages Special Assets Team members in residential and consumer collections as needed. 

POSITION REQUIREMENTS: 

• Minimum 3-5 years’ experience in commercial, residential and consumer loan collections and loss mitigation or in Commercial Portfolio Management. 
• Experience in Commercial credit/portfolio management preferred. 
• Managerial experience a plus. 
• Bachelor’s degree in business administration or related field. 
• Must have the ability to detect and define problem loans, collect data, establish facts, and draw valid conclusions. 
• Strong problem-solving skills. 
• Strong negotiation skills to present perspective workout options. 
• Excellent oral, written, and interpersonal skills. 
• Attention to detail and ability to meet deadlines and deal tactfully with customers. 
• Strong knowledge of Commercial, Residential and Consumer Collection rules and regulations. 
• Proficient computer skills including Microsoft Office. 
• Knowledge of COCC Insight products a plus. 
• Knowledge of commercial loan administration system Loan Vantage a plus. 
• Knowledge and experience with CARM Pro a plus.

Qualifications:
 To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed above are representative of the knowledge, skill, and/or ability required. Any physical demands or work conditions described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

 An Affirmative Action/Equal Opportunity Employer of protected veterans and individuals with disabilities. Applicants for employment are considered without regard to race, creed, color, religion, sex, gender identity, sexual orientation, marital status, genetic information, national origin, age, disability, status as a veteran, Vietnam Era Veteran, or being a member of the Reserves or National Guard. Also, it is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.