Position Title: Special Assets Agent - No. 295
Date Posted: 03/26/2009
Job Description:
This position is responsible for the collection, restructuring and management of problem Business Banking loans. These loans are typically smaller and less complex than commercial loans and may be either unsecured or secured by various types of collateral, including real property, inventory, accounts receivable, stocks, etc. This position is also responsible for the negotiation of forbearance and other agreements with borrowers and for arranging for the sale or liquidation of the collateral when necessary. The position will also act as a consultant to lending units, credit administration and bank management as necessary. Generally manages a portfolio of problem (graded substandard or worse) loans. This position requires a high level of independent judgment and decision making responsibility.
- Evaluate collateral, loan documents, financial information and borrower's ability to repay
- Develop a strategy to either exit or upgrade the loan
- Determine judgments and/or action to protect the bank's interest and achieve maximum recovery, based upon current and changing conditions
- Conduct negotiations with borrowers, guarantors and borrower's/guarantor's counsel
- Represent the bank in litigation matters, including foreclosures, bankruptcy, etc.
- Direct activities to ensure effective management and maintenance of properties
- Direct the liquidation of all non-real property assets
- Determine and summarize the impact of bankruptcy filings; ensure protection of bank's position as creditor
- Provide advice or counsel to lending units handling troubled loans
- Interact with internal and external legal counsel to develop collection and recovery strategy
- Control expenses associated with assets under management, including maintenance, legal, etc.
- Significant field visits to assets and/or borrowers
- Work with U.S. Small Business Administration to facilitate the collection of loan guarantees provided by that agency
REQUIREMENTS
- Bachelors degree in business, finance or a related field; or equivalent experience
- Minimum of one year of lending experience with lending laws, credit analysis, lending or other directly related experience
- Strong knowledge of collection processes and practices
- Possess a general knowledge of collection matters and loan workouts of a business banking nature
- Good verbal and written communication skills
- High attention to detail
- Understanding of legal remedies available in loan default scenarios and ability to work effectively with outside attorneys
- Must understand SBA standard operating procedures regarding collections and liquidations
- Proven problem-solving skills
- Strong analytical skills
- Knowledge of banking principles, policies and procedures
- Intermediate PC skills required