Senior Special Assets & Recovery Officer

Busey; Glenview (IL); 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/dental/vision insurance

Job summary

Busey is seeking a Special Assets Officer to manage a portfolio of complex commercial loans, develop collection strategies, and implement plans to maximize recoveries.

The role requires 5+ years of direct special assets experience, a Bachelor’s degree in Accounting or Finance, formal credit training, and active NMLS registration under the SAFE Act. Strong negotiation and knowledge of collateral valuation are essential.

Qualifications

• Bachelor’s degree in Accounting or Finance or equivalent experience.
• Requires 5+ years of direct special assets experience.
• Formal credit training.
• Knowledge of banking regulations and lending practices.
• Proficiency with Microsoft Office.

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 commercial bank customers in distress with tact and persuasiveness.
• Interact with lawyers and outside professionals to pursue the bank’s agenda.
• Seek to minimize out-of-pocket expenses from debtors and maximize loan recoveries and fees.
• Ensure BSA Compliance.

Skills

Communication

Lending knowledge

Credit analysis

Regulatory knowledge

Negotiation

Education

Bachelor’s degree in Accounting or Finance

Tools

Microsoft Office

Job description

Busey is seeking a Special Assets Officer to manage a portfolio of complex commercial loans, develop collection strategies, and implement plans to maximize recoveries.

The role requires 5+ years of direct special assets experience, a Bachelor’s degree in Accounting or Finance, formal credit training, and active NMLS registration under the SAFE Act. Strong negotiation and knowledge of collateral valuation are essential.