Special Assets Officer

As a Special Assets Officer, your day will be filled with opportunities to manage and mitigate risk associated with the organization's distressed or non-performing loans and assets. This role involves developing strategies to minimize losses, negotiating loan restructures, and working closely with borrowers to maximize recovery efforts. The Special Assets Officer will collaborate with internal departments, legal counsel, and external stakeholders to protect the organization's financial interests. 

Responsibilities

Daily responsibilities include, but are not limited to, the following:

• Manage a portfolio of distressed and non-performing loans to minimize financial losses.
• Develop and implement workout strategies, including loan restructures, modifications, and settlements.
• Conduct financial analysis and risk assessments on troubled assets.
• Collaborate with legal counsel on foreclosure, liquidation, and recovery efforts.
• Work with borrowers to negotiate repayment plans and workout agreements.
• Monitor industry and economic trends to anticipate potential risks to the loan portfolio.
• Ensure compliance with regulatory requirements and internal policies.
• Prepare detailed reports and presentations for executive leadership and regulatory agencies.
• Coordinate with credit, finance, and compliance teams to implement effective asset recovery strategies.
• Maintain strong relationships with external agencies, appraisers, and asset disposition firms.
• The position will interact with Senior/Executive Management and participate in the Criticized Asset Committee meetings.

Job Requirements

The successful candidate will have the following qualifications:

• Bachelor's Degree, prefer business major with strong accounting and finance emphasis with very good working knowledge of GAAP, business law and commercial loan legal documentation.
• Five+ years banking/financial services experience required with a combination of commercial and commercial real estate lending, credit administration. Two+ years of commercial workout experience preferred.  
• Exceptional oral/written communication and interpersonal skills necessary in order to negotiate with and persuade commercial borrowers and/or legal counsel and to interact with Bank management.
• Strong problem solving skills.
• Proficient PC skills, including spreadsheet applications.
• Knowledge of collateral risk and valuation, including ABL field exams, borrowing bases, equipment appraisals and real estate appraisal review.
• Must be knowledgeable of Uniform Commercial Code, general banking, bankruptcy, mortgage and foreclosure and lender liability issues for each of the states within Bank's
• Ability to compel borrower to meet deadlines, obtain documents when due, and coordinate with bank
• Oversees a small consumer collections department.

Benefits

• 401(k) with a company match of up to 6%
• ESOP employer match
• Medical insurance
• Dental insurance
• Vision insurance
• Cancer / Disease insurance
• Accident insurance
• Flexible Spending Accounts
• Health Savings Accounts
• Bank paid Life / AD& D insurance
• Voluntary Life / AD&D insurance
• Bank paid Short-Term and Long-Term Disability insurance
• Employee Stock Purchase Plan
• Employee Assistance Program

Physical Requirements

The physical demands described here are representative of those that must be met by an employee in order to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

This position requires sitting the majority of the time with limited walking and standing. All work occurs indoors and within regular working hours. The noise level in the work environment is usually moderate.