Special Assets Officer

Busey Bank; Glenview (IL); On-site; USD 103,000 - 134,000; Full time

Job summary

Busey Bank in Glenview is seeking a Special Assets Officer to manage a portfolio of complex commercial loans, develop collection strategies, and implement recovery plans to maximize bank value.

You will negotiate terms with borrowers, attorneys, and other parties, prepare analyses, and provide reporting to the Special Assets Manager. The role emphasizes compliance with BSA, risk minimization, and strong communication and negotiation skills in a challenging environment.

Qualifications

• Knowledge of commercial, real estate, and consumer lending; particularly credit structure and loan policy.
• Strong negotiation skills
• Regulatory agencies, loan review, and internal/external auditors
• Legal/regulatory requirements pertaining to banking and collections
• Regulatory guidelines regarding appraisal/re-appraisal and related regulatory policies
• Strong ability to analyze credit and negotiate repayment terms

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 restructure 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 experiencing financial distress with tact and persuasiveness.
• Interact with lawyers and outside professionals representing debtors, pursuing the Bank's agenda.
• Minimize out-of-pocket legal and non-legal expenses to maximize recovery.
• Ensure BSA compliance.

Skills

Collection strategies

Negotiation

Credit analysis

Regulatory compliance

Report generation

Client interaction

Legal coordination

Job description

Position Summary

The Special Assets Officer is responsible for managing and monitoring a portfolio of complex commercial loans. Responsibilities include developing collection strategies, action plans, negotiating, and implementing plans to maximize the bank's recovery.

Duties & 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.

Education & Experience

Knowledge of:

• 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

Ability to:

• Analyze credit and develop and negotiate repayment terms with companies and high net worth individuals
• Work independently and prioritize daily workflow
• Analyze and solve problems for which there are not precedents
• Maintain visual attention and mental concentration for extended periods of time
• Perform duties and make decisions under frequent time pressures

  Compensation and Benefits

  Salary offered is based on factors, including but not limited to, the job duties, required qualifications and relevant experience, and local market trends. The role may be eligible for bonus or incentives based on company and individual performance.

  (Base Pay Range: $103,000 - $134,000/year)

  Busey provides a competitive Total Rewards package in return for your time, talents, efforts and ultimately, results. Your personal and professional well-being-now and in the years to come-are important to us. Busey's Total Rewards include a competitive benefits package offering 401(k) match, profit sharing, employee stock purchase plan, paid time off, medical, dental, vision, company-paid life insurance and long-term disability, supplemental voluntary life insurance, short-term and long-term disability, wellness incentives and an employee assistance program. In addition, eligible associates may take advantage of pre-tax health savings accounts and flexible spending accounts. Visit Busey Total Rewards for more information.

  Equal Opportunity

  Busey values a diverse and inclusive workplace and strives to recruit, develop and retain individuals with exceptional talent. A team with diverse talent, working together, is essential to Busey's commitment of delivering service excellence. Busey is an Equal Opportunity Employer including Disability/Vets. Visit Busey.com/Careers to learn more about Busey's Equal Opportunity Employment.

  Unsolicited Resumes

  Busey Bank, and its subsidiaries, does not accept any liability for fees for resumes from recruiters or employment agencies ("Agency"), without a binding, written recruitment agreement between Busey and Agency describing the services and specific job openings ("Agreement"). Busey may consider any candidate for whom an Agency has submitted an unsolicited resume and explicitly reserves the right to hire those candidate(s) without any financial obligation to the Agency, unless an Agreement is in place. Any email or verbal contact with any Busey associate is inadequate to create a binding agreement. Agencies without an Agreement are requested not to contact any associates of Busey with recruiting inquiries or resumes. Busey respectfully requests no phone calls or emails.