Senior Asset Recovery & Negotiation Lead

Busey Bank; Carmel (IN); On-site; USD 103,000 - 134,000; Full time

Benefits offered by this job

401(k) match

Profit sharing

Employee stock purchase plan

Paid time off

Medical insurance

Dental insurance

Vision insurance

Life insurance

Long-term disability

Wellness incentives

Job summary

Busey Bank is seeking a Special Assets Officer to manage a complex portfolio of commercial loans, develop collection strategies, and implement recovery plans to maximize loan recoveries. The role involves negotiating with borrowers and outside professionals and ensuring compliance with banking regulations.

You will prepare analyses, monitor plans, and provide reporting to the Special Assets Manager, while maintaining focus on minimizing losses and legal expenses for the bank.

Qualifications

• Strong oral and written communication skills.
• Commercial, real estate, and consumer lending; particularly credit structure and loan policy.
• Complex credits and strong knowledge of collateral valuation/liquidation.
• Regulatory agencies, third party loan review, and internal/external auditors.
• Legal/regulatory requirements pertaining to banking and collections.
• Regulatory guidelines regarding appraisal/re-appraisal and all other regulatory policies affecting classified/criticized assets.
• Strong negotiation skills.

Responsibilities

• Develop collection strategies and action plans for problematic loans.
• Prepare detailed analysis and provide recommendations of the collection and action plans.
• Negotiate with borrowers, attorneys, and companies to review and re-structure credit and repayment terms.
• Implement recovery plans that minimize risk and loss to the bank.
• Provide timely and accurate reporting to Special Assets Manager.
• Interact with the spectrum of commercial bank customers experience financial distress; displaying tact and persuasiveness.
• Interact frequently with lawyers and other outside professionals, both those retained by the Bank and those representing our debtors, setting and pursing the Bank's agenda.
• Seek to minimize out-of-pocket legal and non-legal expenses from debtors whenever possible; maximizes loan recoveries and fee income.
• Ensure BSA Compliance.

Skills

Negotiation skills

Oral and written communication

Commercial lending knowledge

Regulatory knowledge

Legal/regulatory requirements

Credit structure and loan policy

Job description

Busey Bank is seeking a Special Assets Officer to manage a complex portfolio of commercial loans, develop collection strategies, and implement recovery plans to maximize loan recoveries. The role involves negotiating with borrowers and outside professionals and ensuring compliance with banking regulations.

You will prepare analyses, monitor plans, and provide reporting to the Special Assets Manager, while maintaining focus on minimizing losses and legal expenses for the bank.