Special Assets / Workout / Collections Officer
Full job description
The Special Assets / Workout / Collections Officer will assess risk in a distressed loan relationship. This person will be expected to determine critical issues on a case-by-case basis, create a plan to address said issues, and monitor the plan to mitigate any loss exposure. This will also include assigning property inspections and other forms of collateral, monitoring performance of negotiated settlements, initiating litigation when necessary, and oversight of the marketing of bank owned assets.
ESSENTIAL DUTIES AND RESPONSIBILITIES
1. Address all areas of the Special Assets Department including production of all internal reports, monitor the management and performance of the entire Special Assets portfolio, and interact with the lending staff to insure compliance with Special Assets policy and procedures.
2. Perform the initial assessment of new relationships assigned to Special Assets.
3. Possess the ability to determine next steps for the Special Assets staff to execute when dealing with distressed relationships.
4. Manage a portfolio of larger complex distressed loan relationships.
5. Compliance with any and all BSA/AML/CFT and Sanctions requirements set forth by Bank Policy and Procedure, including but not limited to timely completion of assigned training.
MINIMUM REQUIREMENTS
These specifications are guidelines based on the minimum experience required to perform the essential functions of the job. Individual abilities may result in some deviation from these guidelines:
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