Head of Special Assets

2 weeks ago

Irvine, California, United States Sunwest Bank Full time

SUMMARY

As the Head of Special Assets reporting to the Chief Credit Officer, this senior level executive manages the restructure and workout of various loan-types including CRE, C&I, SBA and other asset types. Prepares, or assists in the preparation of Credit Authorizations in accordance with Bank's policies and procedures for presentation to CCO, President/CEO and/or Board. Prepares detailed collateral analysis and coordinates appraisal and third party analysis.. Prepares thorough analysis of business and/or financial status, and presents facts. Provides expert level analytical opinions on the remediation or exit strategy of existing defaulted borrowers. Engages with external counsel as needed. Supervises a team of Special Assets Officers

ESSENTIAL DUTIES AND RESPONSIBILITIES

  • Interacts directly with LOB management, other Credit Administrators and relationship managers regarding restructuring and workout of commercial real estate loans and commercial and industrial loans.
  • Consults and advises the relationship manager(s), the Chief Credit Officer, and other Credit Administration officers on credit structure, pricing, collateral and other credit consideration issues.
  • Proven track record of enhancing risk management and optimized recoveries within a commercial banking environment.
  • Strong communication and management skills.
  • Demonstrated ability to work with outside counsel. Experience with foreclosure process.
  • Expert knowledge of related bank regulations. Accountable to understand and ensure regulatory and policy compliance with state and federal requirements including the following (but not limited to) Bank Secrecy Act, Anti-Money Laundering Act, Community Reinvestment Act, OFAC Regulations and Fair Lending and all applicable bank and government regulations
  • Reviews and enforces loan agreement covenants for verification of the borrower's compliance thereto. Accurately prepares financial projections as required.
  • Directs, coaches and advises the activities of a team of Special Asset officers. Exercises managerial authority concerning staffing, performance appraisals, promotions, salary actions and terminations; plans and adheres to a staffing budget; minimizes employee turnover rates; provides the accurate and timely presentation of performance appraisals, counseling and status changes; exercises sound and fair judgment and compliance with policy regarding promotions and salary actions
  • Maintains an accurate, up-to-date tracking log of all activity and credit arrangements in process.
  • Performs special projects as designated by Bank President or Chief Credit Officer

MINIMUM QUALIFICATIONS

  • 7-10 years of experience in special assets managing troubled loans workouts and collecting in a commercial bank or equivalent environment. Demonstrated history of successful problem asset resolution and risk management.
    •
  • Underwriting and management skills for varied loan types including commercial and industrial loans, real estate loans, lines of credit, SBA and ABL loans, secured and unsecured loans.
    • Familiarity with the legal issues involved with distressed loans such as bankruptcy actions, foreclosures, performance claims, and collateral collection remedies.
  • Must possess strong computer skills including Excel.
    • Bachelor's degree in business administration, accounting, finance or related field preferred

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