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Commercial Recovery Specialist

2 months ago


Oswego, New York, United States Pathfinder Bank Full time
Job Overview

About Pathfinder Bank: We are a community-oriented financial institution dedicated to fostering meaningful relationships in Central New York. As a vital member of our team, you will have the opportunity to positively influence local businesses and residents while establishing enduring partnerships.

Why Work With Us:

Community Focus: Your position at Pathfinder Bank transcends traditional banking; it involves actively participating in the advancement and success of the community we serve.

Team-Oriented Culture: Flourish in a dynamic, collaborative, and stimulating work environment where your contributions are recognized, and teamwork is celebrated. We believe in achieving greater success together.

Employee Recognition: We value the hard work and commitment of our employees and strive to ensure you feel appreciated and rewarded for your efforts.

Work-Life Balance: Experience the flexibility of a family-friendly workplace that prioritizes a healthy work-life balance.

Key Responsibilities:

The Commercial Recovery Specialist is tasked with addressing distressed classified assets. This role involves assessing the viability of businesses and repayment sources, formulating optimal recovery strategies, and negotiating favorable outcomes for both the bank and borrowers. You will collaborate with credit analysts, management, and legal counsel throughout the negotiation process. Additionally, you will oversee the negotiation outcomes, approving modifications within your authority or recommending them to the appropriate committee. Special Assets Officers are responsible for managing and monitoring higher-risk loans and collections, requiring keen attention to detail and strong analytical skills. You may also engage in general administrative tasks, including attending meetings and updating loan information in databases.

Essential Duties:

  1. Manage distressed commercial relationships assigned to you.
  2. Work alongside analysts to address underwriting inquiries and assess the viability of proposed transactions while confirming credit risk ratings.
  3. Negotiate repayment plans for loans.
  4. Stay informed about regional and national economic conditions, financing trends, lending regulations, and loan documentation processes.
  5. Collaborate with legal counsel to efficiently resolve complex issues related to loan proposals and documentation.
  6. Ensure all loan documentation is accurate and complete.
  7. Coordinate with loan servicing team members to address loan-related challenges.
  8. Complete quarterly Classified Loan Action Plans as required.
  9. Prepare presentations and memos for discussions with bank personnel.
  10. Perform additional duties as necessary to support the efficient operation and promotion of the bank.

Travel Requirements:

Travel between the offices of Pathfinder Bank and client locations may be necessary.

Qualifications:

Required Education:

  • Bachelor's degree or equivalent from a four-year college or university; or a comparable combination of education and experience.

Preferred Experience:

  • A minimum of four years of experience in commercial banking or a similar combination of education and experience.
  • Effective communication skills.
  • Strong written communication abilities.
  • Excellent interpersonal skills.
  • Detail-oriented and thorough in work.