Head of Commercial Special Assets

1 week ago

Lancaster, Pennsylvania, United States Disability Solutions Full time
Value Proposition

At Disability Solutions, our core values shape our identity and drive our mission to enhance lives. Our workforce is the foundation of our success, and we believe that every achievement is rooted in their dedication. We are devoted to fostering a positive influence in our communities. Our culture emphasizes ongoing education, work-life balance, and inclusivity. We advocate for a technology-driven work environment that continually improves the experiences of both our employees and clients.

Overview

The primary function of this role is to oversee the commercial workout operations for Disability Solutions. The individual in this position will formulate and disseminate strategies and tactics for the department, focusing on collection and workout initiatives while ensuring compliance with all regulatory and legal standards.

This position offers flexibility in location and hybrid work options.

Responsibilities
  • Guarantees the effective and efficient management of the Commercial Special Assets division. Supervises function managers and their roles in the collection and workout of commercial mortgage distressed loans and leases, including asset liquidation to minimize financial losses.
  • Sets objectives, goals, and performance metrics for the Commercial workout sector under Special Assets and nurtures management personnel for development through training and practical experience.
  • Provides recommendations regarding employment, performance evaluations, salary adjustments, promotions, transfers, and terminations for department managers and direct reports.
  • Develops an annual budget and ensures departmental operations remain within established financial parameters.
  • Oversees the development, enhancement, and monitoring of processes to guarantee adherence to regulatory, servicing, and legal obligations, including compliance with relevant banking regulations.
  • Creates, reviews, and suggests operational policies and procedures, ensuring proper implementation and maintenance of approved modifications.
  • Engages with auditors, examiners, and management teams to discuss findings and necessary enhancements.
  • Manages corporate nonaccrual and charge-off procedures for all commercial mortgage loans based on comprehensive analysis of borrower financial data.
  • Consolidates known charge-offs and recoveries, recommending nonaccrual and charge-off figures to management.
  • Formulates strategies for addressing large criticized and classified commercial loans to facilitate repayment while minimizing loss and risk.
  • Ensures compliance with regulatory and accounting standards related to problem loans, including accurate recognition of nonaccrual, charge-off, impairment, and troubled-debt restructuring issues.
  • Participates in various internal committees and contributes to task forces related to loan products or services.


Qualifications

Education

Bachelor's Degree or equivalent experience in Business Administration or a related field. (Required)

Experience

A minimum of 10 years of management experience in commercial workout. (Required)

Other Duties as Assigned by Manager

This role may encompass additional responsibilities as designated by the manager. All employees are accountable for understanding and adhering to the contents of all Company-assigned compliance programs, regulations, and policies, as well as ensuring completion of compliance training assignments by established deadlines.

Pay Transparency

To enhance transparency for candidates, we disclose base salary ranges in all job postings. Salary ranges are established based on the position, function, and responsibilities, benchmarked against similar companies in our industry. Specific compensation will be determined based on various factors, including the candidate's expertise, skills, and relevant credentials. The salary range for this position is $132,000 to $220,600 annually.

Additional Compensation Components

This position is eligible for equity in the form of restricted stock units and participation in a short-term incentive compensation plan based on individual and company performance.

Benefits

As part of our Total Rewards program, Disability Solutions offers a comprehensive benefits package for eligible employees, including medical plans with prescription coverage, flexible spending accounts, dental and vision insurance, life insurance, a 401(k) plan with employer matching, paid time off, disability insurance, and educational assistance. For more information on eligibility for these programs, please visit our Benefits & Wellness page.

EEO Statement

Disability Solutions is an equal opportunity employer, committed to providing equal employment opportunities for all qualified individuals. We will recruit, hire, train, and promote individuals in all job titles without regard to race, color, religion, sexual orientation, national origin, gender, age, disability, or any other legally protected status.

Sponsorship Statement

As a condition of employment, individuals must be authorized to work in the United States without the need for sponsorship for a work visa.

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