Asset Recovery Specialist

Our Total Rewards program is designed to provide a comprehensive compensation package that includes short-term incentives, such as bonuses and commissions, along with generous benefits like healthcare, well-being programs, paid family leave, and paid time off.

The Special Assets Manager plays a key role in designing and implementing special assets management strategies. This includes leading oversight of policy, procedures, and regulatory compliance and controls; developing and implementing recovery strategies for problem loans through negotiated modifications, forbearances, managed litigation, and collateral liquidation.

Key Responsibilities Include:

• Identifying and minimizing potential losses and maximizing recoveries on all loan portfolios through analysis of individual credits and related portfolios and industries, collection activities, developing/negotiating/execution of workout action plans, 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.
• Managing workout/collections portfolio reviews and making recommendations for approvals where necessary.
• Overseeing determination and reporting of appropriate risk classification and ratings for problem loans, reserves, and charge-offs, and related portfolio and financial statistics.
• Attending and participating in the Loan Administration Committee.
• Working closely with credit professionals to help identify and mitigate problem assets.
• Developing and implementing risk management strategy and programs; managing and monitoring significant portfolio risks.
• Preparing reports for and leading the Special Assets Committee meeting on a monthly basis.
• Working effectively and strategically with business leaders balancing business needs with potential risks to mitigate loss.
• Making recommendations and providing workable alternatives to borrowers as appropriate.
• Coordinating legal counsel throughout various litigation matters.
• Overseeing OREO and note sales, seeking to minimize cost and maximize recovery to the Bank in accordance with regulatory requirements.
• Managing a team of special asset professionals located throughout the footprint.
• Responsible for all aspects of the team member life cycle, including recruitment, performance, and development.
• Other duties as assigned.

Education:

• Bachelor's degree preferred but not required.

• 5+ years of experience in commercial lending, workout, or relevant experience.
• 3-5 years management experience.
• Knowledge of lending, foreclosure, and judgment laws.
• Highly skilled in commercial lending workout across product/asset types including commercial loans, inventory/floorplan finance, commercial real estate.
• Skilled in remote team management, working knowledge of regulatory requirements for subject portfolios.

• Ability to gain thorough knowledge of products and services.
• High level of analytical skills to conduct loan analysis and maintain loan's progress in consideration of market trends, credit/interest rates, economic conditions, and other factors.
• High level of interpersonal skills to interact with internal and external customers and potential customers in a professional manner.
• Ability to gain and maintain up-to-date knowledge of both internal policies and procedures and the respective state and federal laws and regulations governing departmental functions to ensure performance of individual job duties within the proper control environment.
• Quarterly travel required; monthly travel on occasion due to business needs.