Our client, a leading bank, is looking for a VP Special Assets Officer to join their growing team.
10th May, 2022
SPECIAL ASSETS OFFICER SR
WHAT IS THE OPPORTUNITY?
Under general supervision, this colleague is responsible for managing a portfolio of problem consumer, commercial, real estate, and syndicated loans. Works in a team environment developing and recommending strategies to maximize recovery and reduce losses from own portfolio of commercial credits. Works closely with borrowers, executives, attorneys and mid-size company groups to review and restructure credit and repayment terms to better secure collateral, attain an equity position or charge-off the loan as appropriate. Performs other duties as requested. Must be in good standing under "The Secure and Fair Enforcement for Mortgage Licensing Act of 2008" (Safe Act) and must be registered/licensed with the "Nationwide Mortgage Licensing System and Registry"; or must be able to be registered under the Safe Act. Must remain in good standing under the Safe Act.
Credit Administration Division As a member of the bank’s Credit Administration group, you will contribute to the company's success by upholding the bank’s strong credit culture, while facilitating growth and maintaining the quality of the bank’s loan portfolio.
WHAT WILL YOU DO?
Investigate, analyze and evaluate the condition of the borrower to isolate problems in the credit. Develop strategies to maximize recovery and reduce loses from portfolios. Provide recommendations to the Team Leader about restructuring credits or presents exit strategy if restructuring is not possible within established time frames.
Negotiate and interface with executives, attorneys and certified public accountants in developing an action plan to rehabilitate, if possible, or develop and implement an exit strategy for the credit.
Create and prepare a variety of reports dealing with portfolio status and proposed action plans, performance tracking, forecasting losses, recommendations for charge-offs and other routine reports for area of responsibility.
Coordinate with other Bank departments (e.g., ABL, RM, Legal, CLC) as well as external regulators, auditors, business finance companies and auctioneers to proactively pursue the best course of action for the Bank regarding adversely graded loans.
WHAT DO YOU NEED TO SUCCEED
Minimum of 7 to 10 years of experience in special assets in C&I, Real Estate, and/or fulfilling a lead agency role of a syndicated credit (s).
SAFE Act Registration Must be in good standing under “The Secure and Fair Enforcement for Mortgage Licensing Act of 2008” (Safe Act) and must be registered/licensed with the “Nationwide Mortgage Licensing System and Registry”; or must be able to be registered under the Safe Act.
Skills and Knowledge
Thorough working knowledge of analysis of corporate financial statements, cash flow statements and commercial/corporate structure required.
Demonstrated ability to analyze credit and to develop and negotiate repayment terms with large and mid-size companies and high net worth individuals.
Strong working knowledge of loan restructuring and re-negotiation of interest rates, terms, collateral requirements, documentation and loan agreements.
Excellent verbal and written communication skills to interact effectively with all levels of Bank personnel and customers.
Must possess strong working knowledge of the Microsoft Suite.
Must be in good standing under “The Secure and Fair Enforcement for Mortgage Licensing Act of 2008” (Safe Act) and must be registered/licensed with the “Nationwide Mortgage Licensing System and Registry”; or must be able to be registered under the Safe Act.
Our client requires all on-site employees to be fully vaccinated against COVID-19.