Asset Resolution Officer

First Bank (FBNC); Wilmington (NC); On-site; USD 60,000 - 80,000; Full time

Job summary

A financial institution in North Carolina is seeking an Asset Resolution Officer responsible for managing problem credits in the loan portfolio. The role involves negotiating loan documentation with borrowers, managing assigned problem loans, and preparing monthly asset activity reports. Applicants should have a Bachelor’s degree and five years of lending experience, along with strong communication and organizational skills. This is a full-time position based in Wilmington, North Carolina.

Qualifications

• Five years of lending experience or equivalent work experience.
• Intermediate knowledge of Bank operations and regulations.
• Commercial lending experience preferred.

Responsibilities

• Manage problem loans and negotiate with borrowers.
• Review loan documents and recommend charge-offs.
• Assist in preparation of monthly reports.

Skills

Verbal and written communication

Organizational skills

Interpersonal skills

Time management

Self-motivated

Education

Bachelor’s degree or equivalent experience

Tools

Word processing software

Spreadsheet software

Loan systems

Job description

The position of Asset Resolution Officer (ARO) is responsible for assisting in the identification, management and disposition of problem credits in the loan portfolio including direct responsibility for assigned accounts. The ARO is responsible for maximizing the Bank’s return and minimizing losses on certain criticized relationships. This is accomplished through loan level management of these assets.

ESSENTIAL FUNCTIONS:

• Reviews and understands loan and collateral documents pertaining to loans in the portfolio.
• Negotiates loan documentation, collateral documentation, or any other deficiencies directly with borrowers.
• Manages assigned problem loans to include customer negotiations and provides resolution strategy recommendations to ARG Administration.
• Recommends risk grading and accrual status changes as necessary in consultation with ARG Administration.
• Reviews and recommends charge-offs, partial charge-offs, and individual assessments for the non-accrual loans in the portfolio.
• Works with internal and external Bank Counsel to effectively manage accounts in litigation and bankruptcy.
• Interacts with Loan Operations to insure renewals, modifications, and forbearance agreements are booked correctly as well as transitioning loans between loan systems.
• Deals professionally and effectively with Bank examiners.
• Is flexible and adaptable to a dynamic environment to include travel assignments.
• May perform supervisory duties of department staff.
• Manages the recovery of charge-offs and write-downs.
• Assists in the preparation of monthly reports that reflect problem asset activity.
• May assist management with note and portfolio sale activities.
• Serves effectively when needed as bank official in depositions and courtroom settings.
• Completes annual compliance courses.
• Adheres specifically to all corporate policies and procedures. Also adheres to Federal and State regulations and laws; including, the Bank Secrecy Act and the Anti-Money Laundering Act.
• Adheres to all levels of our Service Excellence standards.
• Performs other duties as required.

GENERAL QUALIFICATIONS:

• Bachelor’s degree or the equivalent combination of education and experience. Five years of lending experience or comparable work related experience. Educational experience, through in-house training sessions, formal school or financial industry related curriculum, should be business or financial industry related.
• Intermediate knowledge of Bank operations, products and services; related state and federal laws and regulations, and other Bank operational policies and procedures.
• Excellent organizational and time management skills - ability to work with minimal supervision.
• Intermediate skills in computer terminal and personal computer operation; mainframe computer system; word processing, spreadsheet and specialty software programs.
• Strong verbal and written communication skills with effective interpersonal and relationship management skills to engage individuals at all levels in the organization.
• Assertive, results driven, self-motivated with ability to effectively plan and manage multiple projects.
• Familiarity with loan systems as well as loan documentation.
• Working knowledge of foreclosures, litigation and bankruptcy process.
• Commercial lending experience preferred.

Knowledge & Experience

These specifications are general guidelines based on the minimum experience normally considered essential to the satisfactory performance of this position. Individual abilities may result in some deviation from these guidelines.

Physical Demands/Work Environment

Vision, hearing, speech, dexterity, visual concentration. A valid driver’s license is required. Must have the ability to stand, walk, sit and use hands and fingers. Must have the ability to work the hours and days required to complete the essential functions of the position, as scheduled. The environment is a professional office with standard office equipment.

Cognitive Requirements

Learning, thinking, concentration, ability to exercise self-control, ability to work in a customer relations’ environment. Must be able to pay close attention to detail and be able to work as a member of a team. Must have the ability to interact effectively with co-workers and customers, and exercise self-control and diplomacy in customer and employee relations’ situations. Must have the ability to exercise discretion as well as appropriate judgments when necessary.

Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.