Job Title: VP & SAD Officer IIIDepartment: Special AssetsWe are looking for
VP & SAD Officer III to join our
Special Assets (SAD) team. The VP & SAD Officer III is responsible for managing the special assets portfolio and the team with a focus on the mitigation of losses for the Bank. Responsibilities include analyzing financial plans, negotiating loan collection, or restructuring, and recommending/overseeing litigation, liquidation, or charge-off of loans.
Key Responsibilities:
- Develop strategies for resolving classified (special asset) loans to minimize losses on the current loan portfolio.
- Analyze financial plans, negotiate loan collections or restructuring, and make recommendations, oversee litigation, liquidation, and charge-off of loans.
- Interact with borrowers to discuss their financial difficulties and negotiate repayment plans.
- Collaborate with legal counsels, collection agencies, and external partners to enforce loan recovery efforts.
- Review and prepare special assets reports for senior management and any additional requested reports.
- Adhere to bank policies and procedures and ensure compliance with legal and regulatory requirements.
Requirements/Qualifications:
- Bachelor's degree in Business, Finance, or Accounting, or related field or equivalent experience.
- Minimum five years of experience in lending related positions.
- Ability to retain a broad knowledge of tasks performed in the lending and liquidation functions.
- Good knowledge of lending regulations, lien laws, and loan documentation.
- Present a professional image in dealing with customers, interdepartmental, and external representatives.
- Good written and oral communication skills; ability to communicate effectively and project a professional image when giving and taking information in writing, in person, and over the phone.
- Ability to respond effectively to the most sensitive inquiries or customer complaints.
- Ability to make effective and persuasive speeches and presentations on controversial or complex topics to top management, employees, regulators, or board members.
Employee Benefits & Perks
- Medical, Dental, & Vision: Open Bank offers medical, dental, and vision insurance for all full-time employees and their immediate family members. Employees become eligible for insurance benefits on the first of the month following their hire date.
- Life, Accidental Death & Dismemberment, & Long-Term Disability: Open Bank pays 100% of the cost.
- Flexible Spending Account (FSA): Tax-advantaged financial accounts are offered for employees to pay for eligible out-of-pocket expenses (health, dependent care, transit, and parking) with pre-tax dollars.
- 401(k) Retirement Savings Plan: Open Bank matches 100% of the first 6% of employees' contributions. Employees are eligible to participate on the first of the month following 90 days of employment.
- Paid Time Off (PTO): Employees begin to accrue PTO hours at the time of hire to use for vacation, illness, or other personal reasons.
- Employee Assistance Program (EAP): The EAP offers counseling sessions, online tools and resources, and legal and financial guidance for employees and their family.
- Company Paid Lunch: Open Bank provides company paid lunch twice a week.
To view current job openings, please visit
Open Bank Careers Page: https://myopenbank.com/about/#
