Senior Special Assets Officer

Community Bank, N.A.; Springfield (MA); On-site; USD 80,000 - 140,000; Full time

Benefits offered by this job

11 paid holidays

Paid vacation

Medical insurance

Vision insurance

Dental insurance

401K with generous match

Pension

Tuition reimbursement

Banking discounts

Job summary

Community Financial System, Inc. (CFSI) through its Community Bank, N.A. division manages a diverse loan portfolio across multiple regions, focusing on workouts and recoveries for substandard credits.

The role engages with management, attorneys, auctioneers, and appraisal teams to maximize recoveries while maintaining regulatory compliance. The position emphasizes collaboration with Special Assets and Credit Management, ensuring timely actions, and adherence to bank policies and training

Qualifications

• Negotiation and influential interpersonal skills are essential.
• Good written and oral communication abilities.
• Ability to develop and/or complete effective and accurate financial models.
• Strong background in credit analysis.
• Knowledge of bankruptcy codes, foreclosure, and liquidation litigation are needed.

Responsibilities

• Oversee a portfolio of credits (usually over $250,000 each) classified at substandard or worse, including charged off credits and OREO when applicable.
• Provide monthly updates to management regarding collateral values, action plans and current status of the portfolio.
• Work with director of Special Assets, Credit management, attorneys, auctioneers and appraisal dept. to ensure expeditious treatment of foreclosures, replevin, and liquidation proceedings.
• Maintain compliance with policy of assigned portfolio regarding non-accrual treatment, risk rating, and bank/regulatory policies.
• Establish a reasonable timetable for the resolution of loans assigned and the desired level of reduction in the portfolio.
• Provide guidance to other lenders and interface across multiple Bank business units to ensure timely, compliant management of stressed portfolios.

Skills

Negotiation

Communication

Financial models

Credit analysis

Bankruptcy knowledge

Education

B.S. in Finance or Accounting

Job description

Community Financial System, Inc. (CFSI) through its Community Bank, N.A. division manages a diverse loan portfolio across multiple regions, focusing on workouts and recoveries for substandard credits.

The role engages with management, attorneys, auctioneers, and appraisal teams to maximize recoveries while maintaining regulatory compliance. The position emphasizes collaboration with Special Assets and Credit Management, ensuring timely actions, and adherence to bank policies and training