Senior Special Assets Officer

1 week ago

Birmingham, Alabama, United States Better Hire Full time
Job Overview

This role is pivotal in overseeing the management of high-risk, distressed, or impaired loan portfolios. The incumbent will lead the activities of the Collections Department, focusing on the liquidation of real estate owned and recovery management. The primary objective is to rehabilitate, collect, and recover major problem loans and complex relationships that are under financial stress, navigating through workout processes, bankruptcy, litigation, foreclosure, or collateral liquidation while minimizing risk exposure to the institution.

Key Responsibilities
  • Maximize Recovery: Enhance the recovery of principal, interest, fees, and expenses associated with all classified loans and OREO assets.
    • Conduct regular account assessments and financial analyses on borrowing relationships, assessing their repayment capabilities, collateral, and asset values to formulate appropriate action plans.
    • Collaborate effectively with legal counsel to resolve problematic credits promptly and mitigate legal risks.
    • Assess collateral, review appraisals, and ensure compliance with bank policy requirements in loan documentation.
    • Engage with borrowers to negotiate and develop suitable workout strategies.
    • Perform site visits and field assessments to meet with borrowers and evaluate collateral.
    • Oversee and manage the recommendations and performance of Special Asset officers and Commercial Collectors within the team.
    • Assist in managing the Watch List and its reporting, ensuring accurate risk ratings and appropriate strategies for all Watch List credits.
    • Support relationship managers in resolving problem credits that may fall outside the Special Assets Group.
    • Participate in various meetings to keep management informed about the status of the troubled loan portfolio and anticipated losses.
  • Leadership: Guide the Special Assets and Collections staff to reach their full potential.
    • Manage all aspects of the Special Assets Department, including Collections and OREO administration.
    • Establish performance expectations and goals for the department and monitor progress.
  • Regulatory Compliance: Act as the primary contact for regulatory examinations, audits, and third-party reviews.
  • Reporting: Ensure timely and accurate generation of Special Asset reports, Problem Loan Reports, and other necessary departmental documentation for effective management and reporting to senior management and regulators.
  • Debt Management: Ensure proper identification, accounting, and management of troubled debt restructures and related statuses.
  • Operational Standards: Adhere to departmental service quality and operational standards.
  • Additional Duties: Perform other responsibilities as assigned.
  • Compliance: Maintain adherence to all state and federal regulations and bank policies, including the Bank Secrecy Act and Fair Employment Practices.
Reporting Structure

This position reports directly to the Chief Credit Officer.

QualificationsEducation & Experience
  • Bachelor's Degree in business, finance, accounting, economics, or a related field.
  • A minimum of ten years of relevant experience in problem loan management, credit workouts, or collections.
  • At least five additional years of experience in commercial lending, credit analysis, or portfolio management is preferred.
Knowledge & Skills
  • Self-motivated with strong negotiation abilities.
  • In-depth knowledge of loan structuring for commercial and residential real estate and other commercial transactions.
  • Familiarity with bankruptcy and business law, capable of navigating complex commercial transactions.
  • Ability to manage multiple priorities effectively and efficiently.
  • Strong analytical skills with meticulous attention to detail.
  • Experience in managing and mentoring staff, setting goals, and overseeing departmental budgets.
  • Willingness to travel as required.
  • Excellent communication skills, both written and verbal, with the ability to present objective analyses.
  • Proficient in Microsoft Office Suite and relevant analytical software.

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