What are the responsibilities and job description for the Special Assets Officer position at Western Alliance Bank?
Job Title
Special Assets Officer
Location:
CityScape
What You'll Do
As a Special Assets Officer you'll recommend and manage internal and external action plans to resolve adversely graded loans, minimize bank loss and maximize recovery and return to performing status. You'll be responsible for engaging in direct meetings and negotiations with the Borrower and related parties, as well as other 3rd party professionals and vendor.
We offer all the important things you'd want — like competitive salaries, an ownership stake in the company, medical and dental insurance, time off, a great 401k matching program, tuition assistance program, an employee volunteer program, and a wellness program. In addition, you’ll have the opportunity to bolster your business knowledge, learning the ins and outs of how successful companies operate and manage their finances, giving you invaluable hands-on experience to help grow your career!
About The Company
Western Alliance Bank is a wholly owned subsidiary of Western Alliance Bancorporation. Alliance Bank of Arizona, Alliance Association Bank, Bank of Nevada, Bridge Bank, First Independent Bank, and Torrey Pines Bank are divisions of Western Alliance Bank; Member FDIC. AmeriHome Mortgage is a Western Alliance Bank company.
Western Alliance Bancorporation is committed to equal employment and will consider all qualified applicants without regard to race, sex, color, religion, age, nation origin, marital status, disability, protected veteran status, sexual orientation, gender identity or genetic information. Western Alliance Bancorporation is committed to working with and providing reasonable accommodations for individuals with disabilities. If you are an individual with a disability and require a reasonable accommodation to complete any part of the application process and/or need an alternative method of applying, please email HR@westernalliancebank.com or call 602-386-2488. When contacting us, please provide your contact information and state the nature of your accessibility issue. We will only respond to inquiries concerning requests that involve a reasonable accommodation in the application process.
© Western Alliance Bancorporation
Special Assets Officer
Location:
CityScape
What You'll Do
As a Special Assets Officer you'll recommend and manage internal and external action plans to resolve adversely graded loans, minimize bank loss and maximize recovery and return to performing status. You'll be responsible for engaging in direct meetings and negotiations with the Borrower and related parties, as well as other 3rd party professionals and vendor.
- Responsible for supporting the Special Assets team by preparing, organizing, and maintaining working files on assigned assets, requiring knowledge of all loan and real estate documentation. Communicate with borrowers to identify reasons for problem and negotiates acceptable terms and conditions for reinstatement or curing default.
- Calculate amounts owed on loans; prepares/reviews reinstatement and payoff statements, default notices, bankruptcy Proofs of Claim. Perform loan and borrower research on loan servicing systems. Prepares loan assumption, forbearance, and loan modification documents. Order and track all necessary third-party reports such as: appraisals, Broker Opinions of Value, environmental inspections, property profiles, title reports, invoices, etc.
- Act as the Bank's Loan Recovery Officer. Initiates Trustee and Attorney engagement packages for foreclosure, receivership, bankruptcy, or other legal actions. Coordinate collection efforts on adversely graded credits with other institutions such as banks, title companies, and the Small Business Administration while maintaining the Banks best interest.
- 5 years of related experience in Accounting, Financial Analysis or similar field.
- Directly related commercial lending experience, with increasing responsibility for credit analysis and underwriting.
- Minimum of one (1) year of problem loan resolution (consumer and commercial), loan servicing, or related industry experience is preferred.
- Bachelor's degree in related field required.
- Intermediate to advanced knowledge of general banking operations, including deposit operations, loan administration, treasury management and/or other commercial banking products and services.
- Intermediate to advanced knowledge of applicable regulatory and legal compliance obligations, rules and regulations, industry standards and practices.
- Intermediate to advanced knowledge and training in financial statement and tax return analysis typically resulting from a combination of education in accounting, financial and/or credit analysis or related areas.
- Intermediate to advanced knowledge of commercial, construction, real estate and consumer loan processing.
- Good working knowledge of proper assignment of loan grades for adversely graded credits, working knowledge of identifying impaired loans, choice of methodologies for impairment analysis, identification of accrual status and troubled debt restructures.
- Intermediate to advanced understanding of the Fair Debt Collections Practices Act, bankruptcy law, debtor/creditor law, and the legal aspects of lending.
- Advanced speaking and writing communication skills.
We offer all the important things you'd want — like competitive salaries, an ownership stake in the company, medical and dental insurance, time off, a great 401k matching program, tuition assistance program, an employee volunteer program, and a wellness program. In addition, you’ll have the opportunity to bolster your business knowledge, learning the ins and outs of how successful companies operate and manage their finances, giving you invaluable hands-on experience to help grow your career!
About The Company
Western Alliance Bank is a wholly owned subsidiary of Western Alliance Bancorporation. Alliance Bank of Arizona, Alliance Association Bank, Bank of Nevada, Bridge Bank, First Independent Bank, and Torrey Pines Bank are divisions of Western Alliance Bank; Member FDIC. AmeriHome Mortgage is a Western Alliance Bank company.
Western Alliance Bancorporation is committed to equal employment and will consider all qualified applicants without regard to race, sex, color, religion, age, nation origin, marital status, disability, protected veteran status, sexual orientation, gender identity or genetic information. Western Alliance Bancorporation is committed to working with and providing reasonable accommodations for individuals with disabilities. If you are an individual with a disability and require a reasonable accommodation to complete any part of the application process and/or need an alternative method of applying, please email HR@westernalliancebank.com or call 602-386-2488. When contacting us, please provide your contact information and state the nature of your accessibility issue. We will only respond to inquiries concerning requests that involve a reasonable accommodation in the application process.
© Western Alliance Bancorporation