Responsible for management of the Special Assets department which handles all problem loans and assets within the bank’s portfolio. Administers and restructures problem loans, including in extremely complex situations, to assure optimal levels of principal, interest, and expense recovery. Evaluates customer relationships and identifies opportunities to restructure and maintain customer relationships where appropriate.
Evaluates financial information, collateral, legal documentation and other available information to project probable and maximum loss exposure to the bank.
Analyzes and combines this information to develop a comprehensive workout strategy to ensure optimal loss protection to the bank in terms of both time and money while maintaining compliance with regulatory requirements.
Consults with inside/outside legal counsel regarding perfection of collateral as well as necessary legal actions and strategies to protect the bank’s position
Analyzes third party legal documents and negotiates potential arrangements to determine overall strategy to reduce the bank’s loss exposure.
Interacts with problem loan customers on a regular basis, monitors financial performance, establishes plans to correct problem issues, monitors collateral value and condition and provides continuous diligence to mitigate loss exposure to the bank.
Interacts with other workout officers, lending officials, and borrowers to better secure collateral, equity, and other assets of the borrower.
Responsible for the Risk Rating decisions that are made by the department and conducts monthly Risk Rating meetings.
Responsible for reporting on troubled debt-restructuring, forbearance, loan strategy reports, provision reports, equity, and Board reports as needed .
Oversees Managed Asset Council.
Maintains close control and accounting of expenditures as a vital component of departmental goal to limit loan losses and maximize loan recoveries.
Manages and contracts with various professionals such as appraisers, brokers, etc. to provide services of significant cost to ensure
Fosters consistency and best cost/benefit return to the bank practices in the management and valuation of special assets.
Assists staff in determining a strategy to maximize recovery by providing analytical support, identifying opportunities for restructures, assist in loan extensions etc.
Works in conjunction with senior management to ensure proper knowledge of all relative compliance topics, monitor activities and report issues. Follows directions from management and Chief Compliance Officer for resolution of issues.
Other duties as may be assigned.
Education and/or Experience:
Bachelor's degree (BA) from four-year college or university, or ten+ years related experience or equivalent combination of education and experience.
Previous supervisory experience required.
Exceptional working knowledge of bankruptcy laws, litigation requirements, foreclosure and REO laws, underwriting, loan documentation, and disposition strategies.
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