Special Assets Associate

3 weeks ago

Chicago, United States Capital Bank Full time
Description

About Us
Capital Bank N.A. is headquartered in Maryland, serving our communities since 1999. We offer commercial and consumer banking services to clients in the DC metro area, alongside two nation-wide lending brands; Capital Bank Home Loans and OpenSky, a credit card division that offers and services credit cards across all states.

Windsor Advantage, an affiliate of Capital Bank N.A., is the nation's leading lender service provider with more than 150 years of cumulative in-house SBA 7(a) and USDA experience, cutting edge systems and rigid controls. Develop an innovative and sustainable SBA and USDA platform without hiring staff or incurring capital expenditures. Windsor Advantage is uniquely qualified as a lender service provider to support it's clients to develop and execute thoughtful and comprehensive SBA and USDA lending programs.

Position Purpose
The Special Assets Associate is responsible for providing quality customer service while servicing and/or liquidating loans. The Special Assets Associate will coordinate critical communication with clients, borrowers, government entities and other third parties (e.g., insurance agents, attorneys, CPA's etc.), exercising discretion and judgement for the necessary decisions associated with the essential functions below.

Position Responsibilities
  • Exhibit a detailed understanding, application and adherence to intensive servicing and liquidation policies and procedures. Oversee and ensure policies and procedures are being followed in compliance with regulatory and company guidelines.
  • Keep complete, accurate and auditable electronic supporting documentation packages for all functions that you perform.
  • Effectively manage critical intensive servicing and liquidation relationships including bank clients, credit union clients, attorneys, and other third parties
  • Work effectively to manage intensive servicing liquidation timeline for wrap up and charge off.
  • Understanding of all SBA SOP and associated liquidation forms/packages.
  • Draft and Issue Demand Letters on delinquent loans.
  • Submission of Secondary Market Repurchase for loans entering liquidation.
  • Prepare timely and compliant Guaranty Purchase Package for submission to SBA Center
  • Guide discussions with Lenders regarding options such as Workout Agreements, Forbearance Agreements, Deed-in-Lieu Agreements.
  • Order any necessary third-party reports and effectively manage third party vendors.
  • Conduct liquidation activities such as Auctions, Foreclosure, Pursuit of Personal Guarantors
  • Conclude liquidation activities with SBA via Wrap Up/CPC Reports
  • Interface directly with SBA Servicing Center staff
  • Special projects as assigned by a supervisor or any member of senior management.
  • Adheres specifically to all company policies and procedures, Federal and State regulations, and laws.
  • Has responsibility for following regulatory requirements including those pertaining to the Bank Secrecy Act (BSA), Anti-Money Laundering (AML), Customer Identification Program (CIP), and OFAC to assist in the identification, detection and determent of money laundering or other unlawful activities.
  • Performs other duties as required.

Minimum Education & Experience

  • Bachelor's degree in finance, accounting, or a related field preferred; or equivalent related work experience required.
  • Minimum of 3 years of experience in administration, finance, or similar industry.
  • Experience in a fast-paced work environment with increased responsibilities.
  • Experience with all forms of closing documentation and closing requirements.
  • Experience with SBA product offerings preferred.

Technical Knowledge and Skills

  • Knowledge of loan projects and basic accounting.
  • Knowledge of legal and closing documents, insurance documents, construction documents, appraisal documents, and environmental documents.
  • Knowledge of SBA/USDA, government guaranteed lending.
  • Work software including Microsoft Office, Office 365, Adobe Suite.
  • Strong verbal and written communication skills.
  • Ability to effectively present information one-on-one and ability to define and solve problems, collect data, and draw valid conclusions.
  • Must be organized and detail oriented.
  • Must be effective in group situations with other staff members.
  • Strong analytical and numerical skills.

Working Arrangements

  • This is a hybrid role expected to work in office Monday, Wednesday, and Thursday. You will be able to work remotely on Tuesday and Friday.

Why Join Us?

  • Join a growing company with a culture that fosters an entrepreneurial spirit
  • Comprehensive benefits package including Medical, Dental, Vision, Company Paid Life Insurance, Disability Insurance, and more
  • Company Contributions to your 401k - Regardless of your contribution
  • Employee Perks: Employee Recognition Program, Commuter Benefits, Employee Banking Discounts and much more
  • Generous Paid Time Off and Paid Holidays

Supporting Businesses. Helping People. Strengthening Communities.
Windsor Advantage LLC is an Affirmative Action, E-Verify, and Equal Opportunity Employer.

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities

The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor's legal duty to furnish information. 41 CFR 60-1.35(c)

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