Senior Special Assets Officer – Workouts & Recoveries

Community Bank, N.A.; Burlington (VT); On-site; USD 90,000 - 120,000; Full time

Job summary

Community Bank, N.A., part of Community Financial System, Inc. (CFSI), seeks a seasoned credit professional to manage a portfolio of credits typically over $250,000, including charged off credits and OREO.

The role focuses on maximizing recoveries, reducing losses, and ensuring compliance with bank policies. Responsibilities include negotiating with all parties, coordinating with special assets, attorneys, and appraisers; expediting foreclosures and sales of OREO; monitoring collateral values;

Qualifications

• Proven negotiation and influential interpersonal skills are essential.
• Strong 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 other liquidation litigation are also needed.

Responsibilities

• Oversee a portfolio of criticized and classified credits to maximize recoveries and minimize losses with emphasis on: Collecting payments, correcting document deficiencies, correcting loan agreement violations, ensuring proper approval for recommended actions, negotiating effectively with all parties involved in the workout function, rehabilitation or potential upgrades, exiting the loan relationship.
• Work closely with director of Special Assets, Credit management, attorneys, auctioneers and appraisal dept. to ensure expeditious treatment of foreclosures, litigation, replevins, and liquidation proceedings, prompt sale of OREO accounts assigned, effective review of collateral files where needed, property management of assigned OREO.
• Maintain compliance to policy of assigned portfolio regarding non-accrual treatment, proper risk rating, charge offs, and awareness of the Bank’s (and regulatory) policies relative to workouts.
• Provide updates on a monthly basis to management regarding collateral values, action plans and current status of the portfolio.
• Monitor the progress of accounts included in the assigned portfolio that have been placed with an attorney for litigation.
• Establish a reasonable timetable for the resolution of loans assigned.
• Establish the desired level of reduction in the assigned portfolio
• Provide guidance to other lenders and interface across multiple Bank business units to ensure timely, efficient and compliant management of stressed and distressed portfolios.
• Maintain proficient knowledge of, and demonstrate ongoing compliance with all laws and regulations applicable to this position, ensure ongoing adherence to policies, procedures, and internal controls, and meet all training requirements in a timely manner.

Skills

Negotiation

Communication

Financial modeling

Credit analysis

Bankruptcy knowledge

Education

B.S. in Finance or Accounting

Job description

Community Bank, N.A., part of Community Financial System, Inc. (CFSI), seeks a seasoned credit professional to manage a portfolio of credits typically over $250,000, including charged off credits and OREO.

The role focuses on maximizing recoveries, reducing losses, and ensuring compliance with bank policies. Responsibilities include negotiating with all parties, coordinating with special assets, attorneys, and appraisers; expediting foreclosures and sales of OREO; monitoring collateral values;