Principal - Special Assets

Atlantic Union Bank; Rockville (VA); On-site; USD 90,000 - 130,000; Full time

Benefits offered by this job

Medical insurance

Dental insurance

Vision insurance

401(k) plan

Paid time off

Wellness programs

Job summary

Atlantic Union Bank seeks an experienced credit professional to manage a portfolio of criticized and classified loans, developing workout strategies to minimize losses and maximize recoveries. You will oversee bankruptcy, foreclosure, and asset disposition, ensuring proper risk rating and timely accrual decisions.

The role requires deep knowledge of commercial lending, credit administration, and related policies, with strong negotiation and communication skills to coordinate with borrowers and

Qualifications

• Bachelor's Degree required; equivalent combination of education and experience may be considered.
• Typically requires 6 - 8+ years prior experience, with deep knowledge of job area.
• Subject matter expertise in commercial loan workouts, distressed asset management, bankruptcy, foreclosure/repossession processes, and other legal remedies available to the Bank.
• Advanced knowledge of commercial lending, credit administration, loan servicing, and related policies and procedures.
• Strong problem-solving, decision-making, negotiation, communication, organizational, and relationship management skills.

Responsibilities

• Manages a portfolio of criticized and classified loans, developing and executing workout strategies to minimize delinquency, charge-offs, and loss exposure.
• Evaluates problem loan relationships, develops recommendations for resolution, negotiates repayment arrangements with borrowers or their representatives, and monitors adherence to approved agreements.
• Oversees bankruptcy, foreclosure, repossession, and other recovery activities, including the management and disposition of acquired assets.
• Ensures assigned assets are appropriately risk rated and reserved, and recommends accrual status changes and charge-offs on a timely basis
• Provides guidance to lending staff regarding the identification, evaluation, and resolution of deteriorating credit situations to minimize losses and maximize recoveries
• Communicates with Relationship Managers and senior management, providing reporting, analysis, and recommendations as required
• Maintains compliance with applicable laws, regulations, policies and training requirements

Skills

Problem-solving

Negotiation

Communication

Relationship management

Education

Bachelor's Degree

Job description

Sub-Family Definition

Corporate Financing Advisory Services Is Responsible For Supporting The Capital Markets And Investment Banking Function In Achieving Client Financing Objectives, By Providing Expert Advisory Services And Structuring Financial Solutions. Activities May Include:

• Advising on capital raising strategies
• Facilitating mergers and acquisitions, and managing relationships with investors and financial institutions

Career Specialization Definition

Special Assets Is Responsible For Managing, Restructuring, And Resolving Problem Loans, Distressed Assets, And Other Underperforming Credit Exposures. Activities May Include:

• Monitoring asset performance
• Developing remediation strategies
• Negotiating workout solutions
• Other duties as assigned

Sub-Family Definition

Corporate Financing Advisory Services Is Responsible For Supporting The Capital Markets And Investment Banking Function In Achieving Client Financing Objectives, By Providing Expert Advisory Services And Structuring Financial Solutions. Activities May Include:

• Analyzing corporate financial needs
• Advising on capital raising strategies
• Facilitating mergers and acquisitions, and managing relationships with investors and financial institutions

Career Specialization Definition

Special Assets Is Responsible For Managing, Restructuring, And Resolving Problem Loans, Distressed Assets, And Other Underperforming Credit Exposures. Activities May Include:

• Monitoring asset performance
• Developing remediation strategies
• Negotiating workout solutions
• Mitigating losses
• Supporting portfolio risk management
• Other duties as assigned

Position Accountabilities

• Manages a portfolio of criticized and classified loans, developing and executing workout strategies to minimize delinquency, charge-offs, and loss exposure
• Evaluates problem loan relationships, develops recommendations for resolution, negotiates repayment arrangements with borrowers or their representatives, and monitors adherence to approved agreements.
• Oversees bankruptcy, foreclosure, repossession, and other recovery activities, including the management and disposition of acquired assets.
• Ensures assigned assets are appropriately risk rated and reserved, and recommends accrual status changes and charge-offs on a timely basis
• Provides guidance to lending staff regarding the identification, evaluation, and resolution of deteriorating credit situations to minimize losses and maximize recoveries
• Communicates with Relationship Managers and senior management, providing reporting, analysis, and recommendations as required
• Maintains compliance with applicable laws, regulations, policies and training requirements

Career Level Definition

Recognized subject matter expert in a job area typically obtained through advanced education and work experience. Responsibilities typically include:

• Managing large projects or processes with limited oversight from manager.
• Coaching, reviewing and delegating work to lower level professionals.
• Problems faced are difficult and often complex.

Knowledge & Experience

• Bachelor's Degree required; equivalent combination of education and experience may be considered
• Typically requires 6 - 8+ years prior experience, with deep knowledge of job area
• Subject matter expertise in commercial loan workouts, distressed asset management, bankruptcy, foreclosure/repossession processes, and other legal remedies available to the Bank.
• Advanced knowledge of commercial lending, credit administration, loan servicing, and related policies and procedures.
• Demonstrated ability to independently manage complex credit relationships, workout strategies, and recovery efforts with limited management oversight.
• Working knowledge of SBA loan workout requirements and procedures.
• Strong problem-solving, decision-making, negotiation, communication, organizational, and relationship management skills.
• Results-oriented with the ability to exercise sound judgment in challenging situations.

Compensation offered will be based on a variety of factors, including but not limited to education, work experience, skills, certifications, and geographic location, etc.

Eligible teammates may participate in a comprehensive benefits package that includes medical, dental, vision, life insurance, disability coverage, paid time off, retirement savings through a 401(k) plan, wellness resources, and other programs designed to support teammates' health and financial well-being, subject to plan terms and eligibility requirements. In addition, certain positions may be eligible for incentive compensation, bonuses, or other variable compensation, subject to applicable plans and performance criteria. General information on our comprehensive benefits package can be found by visiting Employee Benefits | Banking Career Benefits | Atlantic Union Bank

Job Code: CMSAP4

FLSA Status: Exempt

Salary Grade: 119

We are proud to be an Equal Employment Opportunity employer. We maintain a drug-free workplace.