Special Assets Officer

Exchange Bank; Santa Rosa (CA); On-site; USD 70,304 - 100,000; Full time

Job summary

A regional banking institution is seeking a Special Assets Officer in Santa Rosa, California, to manage complex and at-risk loans effectively. The role requires a Bachelor's degree in business administration or similar, alongside 5-7 years of relevant experience. Responsibilities include managing major loan workouts, negotiations with borrowers, and serving a vital role in maximizing loan recoveries through strategic oversight and analysis. A comprehensive understanding of bankruptcy laws and solid financial analysis skills are crucial for success.

Qualifications

• 5-7 years of experience in complex credit administration or related fields.
• Thorough knowledge of bankruptcy and foreclosure processes.
• Proven ability to negotiate and manage complex loan workouts.

Responsibilities

• Manage at-risk loans and ensure maximum recovery for the Bank.
• Resolve complex credits and provide executive status reports.
• Assist borrowers in restructuring debt and developing workout plans.

Skills

Negotiation skills

Financial analysis

Real estate finance knowledge

Problem-solving skills

Customer service

SBA loan knowledge

Education

Bachelor's degree in business administration or related field

Tools

Microsoft Office (Excel, Word, Outlook)

Job description

The Special Assets Officer is responsible for managing complex, at-risk, and problem loans to resolution to ensure maximum recovery for the Bank.

Essential Functions

• Collections, Bankruptcy, SBA and Foreclosure:
  • Manage all aspects of large, more complex loans within an assigned portfolio including the following: loan workouts, bankruptcy, foreclosures, litigation, collection of past due payments, and liquidation of asset(s).
  • Manage SBA liquidation process including Offer in Compromise and Purchase Guaranty preparation to ensure payment of guaranty, including related negotiations with SBA, as needed.
  • Manage the most complex loan work‑outs, bankruptcy situations and OREO property disposals. Participate in settlement negotiations with borrower and/or their legal counsel, directly or in a Mediation setting, under supervision of SAD Manager.
  • Consult with SAD Manager, as needed, to resolve complex credits.
  • Create and provide regular and comprehensive management level reporting in both written and oral format, to include reporting duties assumed from Credit Administration.
  • Actively contribute in continuous updating of the department Business Continuity Plan, Job Aids, and department Policy & Procedures, to include creation and/or maintenance of workflows to monitor department activities.
  • Ensure bankruptcy and foreclosure process and legal requirements are followed, working with Bank legal counsel and Special Assets Manager, and within Bank policies and procedures, and SBA Loan Program Requirements.
  • Meet with borrowers and /or internal Loan Officers to review problem loan action plans, monitor financial performance, and establish action plans to address problem issues, monitor collateral value and condition, providing continuous diligence to mitigate loss exposure to the Bank.
  • Design, recommend and implement approved and appropriate plans and budgets to manage and dispose of properties obtained through foreclosure.
  • Request property inspections, engineering studies or construction bids as necessary in the disposal of property.
  • Analyze properties and their corresponding markets to determine and recommend appropriate disposition strategies, book values and charge‑offs in conformance to Bank policies and procedures and regulatory requirements.
  • Coordinate the necessary actions to manage and sell properties working with real estate brokers, potential purchasers, title and escrow companies, receivers, property management firms and other REO property related vendors.
  • Supervise sales negotiations with potential purchasers including approval, declination and recommendation to management regarding offers.
  • Manage assigned loan‑related litigation matters with Bank legal counsel and Special Assets Manager.
  • Work with outside consultants on business and/or property management of troubled assets.
  • Provide accurate, complete and timely individual loan and overall portfolio reports, including recommendations for non‑accrual status, specific loan loss reserves, risk rating changes and charge off.
  • Consult regularly with the SAD Manager when identifying and implementing resolution actions.
• Watch List Relationships:
  • Review, analyze, recommend and implement resolutions for complex problem credits and workout loans in the best interest of the Bank.
  • Manage complex Watch List relationships to resolution.
  • Restructure complex debts and create workout plans to effectively bring resolutions to problem credits.
  • Provide an executive level status report of assigned relationships at periodic internal meetings
  • Assist in performing periodic impairment analysis for executive reporting, recommending methodology with supporting documentation.
  • Work directly with borrowers to restructure debt and create workout plans.
  • Analyze financial statements, business history and creditworthiness of buyers and borrowers.
• Non‑Essential Functions:
  • Perform special projects and research as assigned.
  • Perform other duties as assigned.
  • Provide coverage for the Special Assets Specialist job duties, as needed.
  • Provide training and mentoring to Special Assets Specialist and other internal partners, as needed.
  • Occasional travel and ability to perform on‑site visits at borrower’s business location, as needed.

Minimum Qualifications

• Bachelor's degree in business administration, economics, accounting or related field of study and at least 5-7 years of experience with complex credit administration, special assets/work‑outs, loss mitigation or legal/litigation or equivalent combination of education and experience.
• Experience with SBA 7(a) loan program knowledge a plus.
• Thorough knowledge of bankruptcy laws, full understanding of lender liability issues, probate/deceased borrower, foreclosures, collections, loss mitigation and related laws and regulations.
• Thorough knowledge of SBA servicing, liquidation and purchase guaranty procedures.
• Thorough knowledge of consumer, commercial, commercial real estate lending, construction methods and practices, including identification of key market trends and real property valuation.
• Thorough knowledge of real estate finance, accounting and law.
• Strong, professional and effective negotiating skills.
• High level of initiative, perseverance and problem‑solving skills.
• Demonstrated ability to perform all essential functions independently and make sound recommendations with limited guidance or supervision.
• Demonstrates strong business acumen with thorough understanding of a wide range of elements of the Bank's business and the customers, industries, and partners with which the Bank is involved.
• Skilled at operating a personal computer including Microsoft Office Word, Excel, Outlook, with intermediate Excel skills preferred.
• Ability to work in a fast‑paced environment, comfortable adapting to changing priorities, and workload, demonstrating flexibility/adaptability. Supports organizational change positively and proactively.
• Proven ability to learn and retain new information, taking responsibility for own learning and development by acquiring and refining of technical and professional skills needed in job related areas; proactively seeks coaching and performance feedback.
• Engaged team player, demonstrating ability and willingness to foster positive partnerships, collaborating with team members and internal business partners for a common goal.
• Committed to providing a high level of customer service, ensuring all borrowers are treated in a respectful manner.
• Possesses solid written and verbal communication skills, using correct English grammar, punctuation and spelling; communicates information in a succinct and organized manner; produces written information, which may include technical material that is appropriate for the intended audience.

Compensation

The hiring range for this position is $70,304 to $100,000 per year. The compensation offered will fall within this range, commensurate with the candidate's applicable experience, education and skills.