Senior AVP, Special Assets & Workout Strategy

State Employees Credit Union of New Mexico; Santa Fe (NM); On-site; USD 103,000 - 129,000; Full time

Benefits offered by this job

Benefits package

Competitive benefits

Job summary

State Employees Credit Union of New Mexico seeks an AVP Special Assets to manage troubled and higher-risk commercial loans after transfer to Special Assets. Develop repayment plans, restructure loans, and maximize recoveries while coordinating with borrowers, guarantors, and cross-functional teams.

You will monitor credit risk, provide asset quality reporting to leadership, and guide modifications, charge-offs, and recoveries in compliance with NM law, NCUA guidance, and policy.

Qualifications

• Advanced knowledge of commercial lending, credit analysis, credit administration, loan documentation, collections, and problem-loan resolution.
• Ability to analyze commercial financial statements, tax returns, cash flow, repayment capacity, leverage, liquidity, collateral coverage, borrowing bases, and guarantor strength.
• Practical knowledge of commercial risk ratings, nonaccrual treatment, CECL/allowance concepts, collateral evaluation, and the documentation needed to support credit decisions.
• Working knowledge of bankruptcy, foreclosure, repossession, collateral liquidation, guarantor enforcement, and settlements, including knowing when legal counsel is needed.
• Excellent negotiation, judgment, and problem-solving skills, with the ability to balance rehabilitation opportunities against loss exposure, time, cost, and likelihood of recovery.
• Excellent written, verbal, and presentation skills, including the ability to explain complex credit issues clearly to borrowers, management, committees, auditors, counsel, and regulators.
• Strong organization and project-management skills with the ability to manage multiple complex credits, vendors, legal matters, deadlines, and competing priorities.
• Proficiency with Microsoft Office and commercial lending/servicing systems, along with sound judgment, discretion, professionalism, and integrity.
• Demonstrated experience analyzing and resolving criticized or classified commercial credits, including commercial real estate and/or commercial and industrial loans.
• Experience with loan modifications, nonaccrual credits, collateral-dependent loans, bankruptcy, foreclosure, collateral liquidation, or legal workout strategies is preferred. Leadership, project-management, or committee-presentation experience is also preferred.

Responsibilities

• Manage assigned problem commercial loans, including criticized/classified, individually evaluated loans, delinquent, nonaccrual, modified, and other higher-risk credits, from transfer to Special Assets through final resolution.
• Monitor for changes in payment performance, financial condition, covenant compliance, collateral, bankruptcy, litigation, or other issues that increase risk, and adjust the action plan as needed.
• Analyze borrower and guarantor financial information, repayment ability, cash flow, collateral, and other sources of support; recommend appropriate risk ratings and elevate material deterioration.
• Exercise delegated authority within approved limits and obtain the appropriate approval for modifications, settlements, charge-offs, collateral releases, legal actions, and other material workout decisions.
• Own and document the resolution strategy for assigned loans, including repayment sources, required actions, borrower and guarantor communication, responsible parties, approvals, milestones, deadlines, and target resolution dates.
• Periodically evaluate and adjust the strategy based on performance, risk, cost, and expected recovery.
• Monitor workout and acquired-property expenses, protective advances, environmental exposure, vendor performance, and disposition timelines.
• Verify the accuracy of loan-system coding and regulatory reporting for assigned credits.
• Make recommendations on nonaccrual status, return to accrual, charge-offs, and recoveries.
• Provide Finance/Accounting and Credit Administration with current information needed for CECL and allowance estimates.
• Maintain the commercial watch list and provide clear, timely reporting on problem loans, risk changes, losses, recoveries, collateral shortfalls, and progress towards resolution.
• Protect the Credit Union's collateral position by coordinating appraisals or evaluations, inspections, lien and title work, insurance, taxes, and other needed collateral-protection steps.
• Work with Legal Counsel on bankruptcy, foreclosure, repossession, settlements, guarantor enforcement, collateral liquidation, and other legal remedies when needed.
• Manage acquired commercial real estate or other collateral, including appropriate exit strategies, carrying costs, insurance, taxes, maintenance, environmental exposure, valuation, and disposition timelines.
• Coordinate and oversee outside professionals such as attorneys, appraisers, brokers, receivers, auctioneers, or property managers when applicable.
• Present problem credits and recommendations to the Loss Mitigation Committee and other leadership groups as needed; support audits, loan reviews, and examinations and maintain clear files supporting material decisions.
• Follow Credit Union policy, delegated authority, applicable accounting requirements, and federal and New Mexico laws and regulations. Escalate suspected fraud, compliance concerns, or other significant issues and recommend improvements based on lessons learned.
• Protect confidential information and follow applicable privacy, information-security, records-retention, and access-control requirements.
• Complete required compliance, safety, security, and job-specific training within established timeframes.
• Perform other duties as assigned

Skills

Commercial lending

Credit analysis

CECL/allowance concepts

Negotiation

Risk management

Data reporting

Leadership

Education

Bachelor's degree in Business/Finance

CURME

CUCE

CRCM

BDACS

CCUIA

Job description

State Employees Credit Union of New Mexico seeks an AVP Special Assets to manage troubled and higher-risk commercial loans after transfer to Special Assets. Develop repayment plans, restructure loans, and maximize recoveries while coordinating with borrowers, guarantors, and cross-functional teams.

You will monitor credit risk, provide asset quality reporting to leadership, and guide modifications, charge-offs, and recoveries in compliance with NM law, NCUA guidance, and policy.