What are the responsibilities and job description for the Sr Special Asset Manager position at National Cooperative Business Association?
Senior Special Asset Manager - Vice President
The position of Senior Special Asset Manager-Vice President exists to manage all assigned loans and relationships exhibiting higher risk profile and/or defaulted loans, taking necessary actions to bring loans into compliance, potential restructuring and modifications, and collection in order to protect Bank assets, and those serviced for investors.
This role requires a demonstrated ability to interpret and restructure complex credits with minimal guidance or oversight. As a subject matter expert across a broad range of credit topics, including financial statements and cash flow analysis, legal concepts pertaining to workouts, collateral analysis, pursuing legal remedies including foreclosure and liquidation.
A proven track record of appropriately utilizing credit approval authority to make sound workout recommendations on complex credits in line with the Bank's credit culture, policies, and procedures, as well as investor guidelines.
Good knowledge of Bank rules, regulations, and accounting (especially those factors that impact the Bank's income statement and balance sheet such as risk rating, accrual/nonaccrual, Financial Difficulty Modifications (f.k.a. TDR's), and impairment analysis).
The loan balances generally range from $100,000 to $50 million, including secured and unsecured first and second lien term loans and lines of credit for Commercial Loans, Commercial Real Estate, Residential Coop Blanket Mortgages, and Homeowner and Condo Associations.
Louis are serviced for portfolio and investors, in accordance with Bank policy or through investor servicing agreements
Minimum Qualifications Include:
- Bachelor's degree in related field
- MBA or advanced degree preferred
- OR in lieu of a degree, minimum of 10 years relevant work experience within Banking - Special Assets, CMBS Special Servicing or Fannie Mae Loss Mitigation
- CMBS or Fannie Mae defaulted loan servicing preferred
- Minimum of two years proven managerial and/or leadership experience
- Knowledge of banking credit principals and banking and industry product offerings
- Knowledge of Bank policies and procedures
We are an equal opportunity employer and adhere to the principles of affirmative action.
