ResponsibilitiesManages a portfolio of credits (usually over $250,000 each) classified at substandard or worse, including charged off credits and OREO (when applicable).
Essential Responsibilities:- Oversee a portfolio of criticized and classified credits to maximize recoveries and minimize losses with emphasis on:
- Collecting payments
- correcting document deficiencies
- correcting loan agreement violations
- ensuring proper approval for recommended actions
- Negotiating effectively with all parties involved in the workout function
- Rehabilitation or potential upgrades
- Exiting the loan relationship
- Work closely with director of Special Assets, Credit management, attorneys, auctioneers and appraisal dept. to ensure
- Expeditious treatment of foreclosures, litigation, replevins, and liquidation proceedings
- Prompt sale of OREO accounts assigned
- Effective review of collateral files where needed
- Property management of assigned OREO
- Maintain compliance to policy of assigned portfolio regarding non-accrual treatment, proper risk rating, charge offs, and awareness of the Bank's (and regulatory) policies relative to workouts.
- Provide updates on a monthly basis to management regarding collateral values, action plans and current status of the portfolio.
- Monitor the progress of accounts included in the assigned portfolio that have been placed with an attorney for litigation.
- Establish a reasonable timetable for the resolution of loans assigned.
- Establish the desired level of reduction in the assigned portfolio
- Provide guidance to other lenders and interface across multiple Bank business units to ensure timely, efficient and compliant management of stressed and distressed portfolios.
- Maintain proficient knowledge of, and demonstrate ongoing compliance with all laws and regulations applicable to this position, ensure ongoing adherence to policies, procedures, and internal controls, and meet all training requirements in a timely manner.
Ancillary Duties:- As an integral member of the Credit Administration Department, this position is also responsible to aid wherever necessary to help the Credit Administration Department and the Bank in achieving their annual goals.
QualificationsEducation, Training and Requirements:- B.S. degree with a major in Finance or Accounting or have met minimum experience in the field satisfactory to the Bank; specialized banking education and training is also required.
- All applicants must be 18 years of age or older.
Skills: - Proven negotiation and influential interpersonal skills are essential.
- Good written and oral communication abilities
- Ability to develop and/or complete effective and accurate financial models
- Strong background in credit analysis
- Knowledge of bankruptcy codes, foreclosure, and other liquidation litigation are also needed.
Experience:- A minimum of five to seven years exposure in special assets at a commercial lending institution including exposure to large and complex credits, participations, loan modifications, bankruptcy and liquidation
Other Job InformationCompensation: Commensurate with experience plus potential for annual merit increase. In addition to your competitive salary, you will be rewarded benefits including: 11 paid holidays, paid vacation, Medical, Vision & Dental insurance, 401K with generous match, Pension, Tuition Reimbursement, Banking discounts and the list goes on!
Physical Requirements:The physical demands 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. While performing the duties of this job, the employee may be required to stand, walk or sit. Use hands and fingers, handle or feel, reach with hands or arms, and speak and hear. The employee may occasionally be required to lift and or move up to 25 pounds. Specific vision abilities required by this job include close vision, and the ability to focus.
MinimumUSD $80,000.00/Yr.
MaximumUSD $139,633.00/Yr.
