The hiring range for this opportunity is $93,000 to $115,000 annual salary along with incentive opportunities, creating a competitive total compensation package based on our pay scale, and may be modified by location and is commensurate with qualifications and experience.
Position Summary - Special Assets OfficerResponsible for managing relationships and resolution strategies for the Bank's problem loan portfolio, including collection, restructuring, and liquidation activities. Evaluates credit risk and borrower performance to develop workout solutions that maximize recovery while ensuring compliance with regulatory requirements and Bank policies. Collaborates with internal teams and external stakeholders to resolve credit issues and mitigate potential losses.
Essential Duties- Analyzes higher-risk loan portfolios to identify financial, collateral, structural, and legal risks and recommend appropriate workout strategies.
- Develops and negotiates restructuring and collection strategies with borrowers to maximize recovery outcomes.
- Analyzes borrower financial statements, collateral, and loan documentation to determine repayment ability and identify deficiencies.
- Monitor borrower performance and workout plans to ensure timely repayment and proactively address issues.
- Coordinates with internal departments, legal counsel, and external advisors to support workout, litigation, and restructuring activities.
- Directs liquidation activities, including foreclosure processes and disposition of collateral assets when necessary.
- Identify and report credit risk changes including risk ratings, nonaccrual status, and troubled debt restructures (TDRs).
- Responsible for ensuring compliance with bank policies, regulatory requirements, and applicable federal and state laws.
Education- Required: High School Diploma or GED
- Preferred Bachelor's Degree
- Field of Study: Finance, Business Administration, Accounting, or related discipline
Skills and Knowledge- 3 - 5 years: Basic to Intermediate experience in special assets, commercial lending, or related credit function
- Ability to analyze personal and business financial statements and interpret credit risk indicators.
- Knowledge of secured and unsecured lending practices, loan documentation, regulatory requirements, and basic understanding of current bankruptcy laws pertaining to chapter 13, 12, 11, & 7.
- Ability to understand real estate and personal property appraisals and valuation methodologies.
- Demonstrate effective written, verbal, and interpersonal communication skills for borrower and stakeholder interactions.
- Proven ability to manage time effectively and work independently while handling a portfolio of simple to moderately complex loans.
DisclaimerThe above information on this description has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job.
