Job DescriptionRockland Trust is seeking a Senior Special Assets Officer to provide loan workout leadership across the Commercial division. The candidate will manage a portfolio of criticized and distressed commercial loans, across multiple verticals, with risk management and loss mitigation as primary objectives.
Responsibilities:
- Perform the duties of a loan officer and be responsible for the restructuring/loss mitigation on the larger, more complex criticized and classified loans. This will include but not limited to middle size middle market accounts, national syndicated credits, specialized loans and commercial RE loans and projects.
- Be capable of applying credit officer, asset management and risk management disciplines
- Be proficient in commercial real estate and C&I financial analysis and loan structuring, as well as knowledge of underlying asset valuation techniques
- Have experience and knowledge around legal documentation and loan covenants with respect to default and bankruptcy scenarios and restructuring strategies for commercial loans
- Utilize expertise in Special Assets to ensure Rockland Trust is leveraging best practices and proactively evolving the policies and programs employed by the Bank
- Capable of working closely with and influencing senior leaders within the Commercial division when creating, revising or implementing Special Assets workout strategies
- Capable of working with Portfolio Risk and Finance providing impairment analysis and recommendations for reserves and/or necessary charge offs.
- Ensure compliance with all internal, external and regulatory compliance matters and issues. Understand completely all specific rules, regulations, and laws that relate to the management of problem credits within financial institutions and specifically Rockland Trust.
- Perform consistent, timely and high quality credit administration duties including proper ratings of assigned loan portfolio, file maintenance, timely completion of memorandums, status reports.
Core Competencies:
- A solid track record of mentoring others, building partnerships and fostering a culture of collaboration
- Skilled in gaining confidence and building trusting relationships with senior leaders
- Lead aggressive and comprehensive workout strategy to ensure optimal loss protection to the Bank in terms of both time and money, while maintaining compliance with regulatory requirements
- Negotiate and contract with various professionals such as attorneys, appraisers, brokers, etc. to provide services to ensure best cost/benefit return to Bank
- Evaluate financial information, collateral, legal documentation and other available information to project probable and maximum loss exposure to Bank
- Proactively seek to improve processes and implement best in class solutions, raising quality and productivity in a calculated way
- Lead criticized and watch list internal governance process and ensure compliance with all reporting and regulatory requirements
- Create a learning culture within Special Assets in order to avoid future mistakes
- The candidate shall possess the ability to make complex restructuring and risk mitigation strategies to prevent bank losses, which are based on their analysis of the business' financial condition, cash flow, capacity, collateral and its ability to repay.
- Ability to communicate with existing loan customers, their accountants, and lawyers as needed to obtain information concerning their business, needs, abilities and earnings to determine risk mitigation strategies to prevent losses for the bank.
- Ability to communicate with attorneys as needed to obtain information concerning legal strategies to determine risk mitigation strategies to prevent losses for the bank
Basic Qualifications:
- Formal Credit Training
- 10+ years previous experience in servicing and working with distressed portfolios of commercial loans in a regional banking environment
- An MBA, Accounting, Finance, Economics or equivalent experience is preferred.
Benefits & Culture Our goal is to offer our colleagues the most generous benefits package possible. We provide a comprehensive suite of benefits designed to support your health, financial security, and overall, well-being. Benefits include: competitive compensation with performance-based incentive awards, health and dental insurance, a 401(k) and DC retirement plan, LTD and life insurance, paid vacation, day care reimbursement, tuition assistance for undergraduate and graduate programs, an award-winning wellness program, and much more!
At Rockland Trust, you'll find a respectful and inclusive environment where everyone has the opportunity to succeed.
