Special Assets Officer I

Responsibilities include, but are not limited to :

Responsible for identifying and minimizing potential losses and maximizing recoveries on assigned loan portfolios, through collection activities, developing / negotiating / execution of workout action plans including proposing loan restructures, managing negotiations and legal actions, evaluating bank collateral and documentation, and recommending alternative solutions as well as judgment / foreclosure litigation, asset liquidation and bankruptcy.

Make recommendations for additional approval where necessary.

• Determine and report the appropriate risk classification and recommended reserve for problem loans where applicable.
• Review delinquency, maturity and unpaid tax reports and follow up with borrowers and loan officers as necessary.
• Responsible for assigned monthly and quarterly reports such as Delinquent Mortgage Loan Reports, Bankruptcy Reports, and Problem Loan Reports, as applicable.
• Maintain client contact records.
• Monitor and manage accounts in bankruptcy, engage bank attorney when necessary, and oversee preparation of bankruptcy proof of claims when prompted by the courts.
• Prepare documents for repossessions and legal actions against debtors.
• Engage bank attorney to foreclose or repossess collateral, when necessary, execute required documents, coordinate foreclosure or repossession process, review and maintain legal records.
• Maintain bank-owned property according to bank policy, review and execute sale documents, and participate in the closing of the asset.
• Recover past due balances, judgments or in the alternative, negotiate recovery with the appropriate approval.
• Assist with routine audits.
• Completed required training associated with job function.
• All other duties as assigned.

Qualifications Education / Experience :

Bachelor’s degree or equivalent of two to four years related experience and / or training; or equivalent combination of education and experience.

Skills :

• Good communication skills, both verbal and written, are preferred.
• Ability to meet tight deadlines, work independently, problem solve, set and achieve priorities and goals.
• Analytical skills sufficient to conduct analysis of problem loans and make recommendations and / or act upon the workout plan.
• High level interpersonal skills to interact with customers, other departments, and bank attorneys in a professional manner.
• High working knowledge of both internal policies and procedures and the laws and regulations governing departmental functions to ensure performance of individual job duties within the proper control environment.
• Thorough understanding of loans and loan systems.
• Strong computer skills and proficient knowledge of word processing and spreadsheet functions.
2 days ago