Senior Special Assets Officer
4 days ago
Senior Special Assets Officer
Location:
CityScape
Job Summary:
We are seeking a highly skilled Senior Special Assets Officer to join our team at Western Alliance Bank. The ideal candidate will have a strong background in commercial lending, asset recovery, and financial analysis.
Key Responsibilities:
- Recommend and manage internal and external action plans to resolve adversely graded loans, minimize bank loss, and maximize recovery and return to performing status.
- Direct meetings and negotiations with borrowers and related parties, as well as other 3rd party professionals and vendors.
- Coordinate across departments within the Bank to ensure effective loan recovery and management.
- Prepare, organize, and maintain working files on assigned assets, requiring knowledge of all loan and real estate documentation.
- Communicate with borrowers to identify reasons for problem and negotiate acceptable terms and conditions for reinstatement or curing default.
- Calculate amounts owed on loans, prepare/review reinstatement and payoff statements, default notices, bankruptcy Proofs of Claim, and perform loan and borrower research on loan servicing systems.
- Act as the Bank's Loan Recovery Officer, initiating Trustee and Attorney engagement packages for foreclosure, receivership, bankruptcy, or other legal actions.
- Coordinate collection efforts on adversely graded credits with other institutions, such as banks, title companies, and the Small Business Administration, while maintaining the Bank's best interest.
- Bachelor's Degree in accounting, finance, economics, business administration, or other directly related field is required; Master's degree in finance, business administration, or similar is preferred.
- 8 or more years of directly related commercial lending experience, with increasing responsibility for credit analysis and underwriting. Minimum of two (2) years of problem loan resolution (consumer and commercial), loan servicing, or related industry experience is preferred.
- Advanced experience, knowledge, and training in financial statement and tax return analysis, typically resulting from a combination of education in accounting, financial, and/or credit analysis or related areas.
- Advanced experience, knowledge, and training in all lending activities and terminology, including commercial, construction, real estate, and consumer loan processing.
- Good working knowledge of proper assignment of loan grades for adversely graded credits, working knowledge of identifying impaired loans, choice of methodologies for impairment analysis, identification of accrual status, and troubled debt restructures.
- Advanced understanding of the Fair Debt Collections Practices Act, bankruptcy law, debtor/creditor law, and the legal aspects of lending.
Salary range for new hires is generally $152,000.00 - $191,236.00 for Nevada. Salary range for new hires is generally $161,452.00 - $201,354.00 for Denver, CO. Salary amount is determined by specific job location. In addition, the role may be eligible for annual bonus/incentives earned and restricted stock.
Benefits:
We offer all the important things you'd want - like competitive salaries, an ownership stake in the company, medical and dental insurance, time off, a great 401k matching program, tuition assistance program, an employee volunteer program, and a wellness program. In addition, you'll have the opportunity to bolster your business knowledge, learning the ins and outs of how successful companies operate and manage their finances, giving you invaluable hands-on experience to help grow your career.
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