Special Assets Officer II

Job Summary: This is a senior Special Assets Officer role, responsible for managing a diverse portfolio of criticized and classified loans (including non-strategic and exit strategy relationships) and foreclosed residential and commercial real estate.  The assigned portfolio will range in size and complexity, requiring the ability to manage large, complex situations on a nation-wide level.  Loan types may include C&I and CRE (including syndications and participations), all to be managed in compliance with all applicable state and federal laws, rules and regulations and Bank lending policies and procedures.This position manages the full customer relationship and is responsible for finding the optimal solution to the workout situation while minimizing negative impact to the Bank. This senior level Special Assets Officer will also be responsible for managing residential and commercial ORE, covering a broad variety of property types in various markets.  Successful candidate must have recent and relevant experience engaging and managing property management, leasing and broker assignments. Special Assets Officers consult with the Bank’s Senior Credit Officers and the Director of Special Assets on problem loans and ORE to arrive at the best possible scenarios to resolve these situations.  Successful candidate will process large amounts of financial information to determine proper risk rating. Special Assets Officers also write detailed reports and convey their progress to a broad audience inside the Bank including Executive Management when appropriate.  Special Assets Officers may be asked to prepare resolution forecasts or impairment analysis.  In all tasks, Special Assets Officers must follow financial and privacy procedures. They are also responsible for communicating with borrowers and other stakeholders using a variety of platforms to identify issues with respect to the status of special assets.   Responsibilities and Duties: Manage a portfolio of large and complex loans to maximize recoveries while minimizing risk/liability associated with the loans through rehabilitation, exit or liquidation. Effectively interpret complex loan documents. Work collaboratively with other banks on syndicated and participated credits. Manage legal processes including receivership, bankruptcy and foreclosure. Develop and recommend alternative strategies for collection of problem loans. Implement appropriate action plans including negotiating workouts, forbearance agreements, restructures, settlements or pursuing litigation to maximize recovery of debts owed while protecting the Bank’s reputation. Attend business meetings with borrowers, borrowers’ attorneys, bank counsel, etc., in addition to internal meetings. Collect and update loan and borrower information. Monitor past-due activity and prepare/present credit analyses as needed. Calculate and recommend impairment reserves and charge-offs. Identify covenant defaults and work with borrowers to resolve those defaults.  It is the responsibility of the Special Assets Officer to monitor future reporting to identify possible future financial deterioration of the borrower. Manage and dispose of residential and commercial ORE and other collateral acquired, engaging third-party property managers, brokers and consultants, where needed. Negotiate agreements for 3rd party services and contracts with buyers of ORE and other foreclosed collateral. Prepare status reports for quarterly meetings.   Job Skills and Qualifications:   Knowledge of commercial collection laws and regulations, bankruptcy laws, awareness of potential lender liability issues, general understanding of foreclosure regulations, real estate finance and accounting. Possess a working knowledge of commercial lending guidelines, loan servicing, loan accounting and loan documentation. Strong analytical skills with a history of making data-driven decisions. Able to solve problems while exhibiting judgment and a realistic understanding of the issues. An understanding of contracts most common in the management and disposition of residential and commercial ORE. Familiarity with the auction process for foreclosed collateral. An initiative-taker with a strong attention to detail and good organizational skills. A critical thinker that can work independently or as a team. Ability to be resourceful and accountable for follow through on multiple projects simultaneously. A bachelor's degree in accounting, finance, or economics 6 years’ experience in Special Assets or 10-15 years of relevant commercial banking experience Proficient with Microsoft Office