Special Assets Officer 3

Community Bank, N.A.; New York (NY); On-site; USD 90,000 - 160,000; Full time

Job summary

Community Financial System, Inc. (CFSI) is seeking an experienced credit professional to manage a portfolio of stressed and distressed credits in our Special Assets group serving Upstate New York and surrounding regions.

You will negotiate with borrowers and attorneys, coordinate with Credit Management and auctions teams, monitor collateral and ensure compliance with regulatory policies while driving timely resolutions.

Qualifications

• B.S. degree in Finance or Accounting or equivalent banking experience.
• Must be 18 years or older and able to meet job requirements.

Responsibilities

• Manage a portfolio of stressed and distressed credits to maximize recoveries and minimize losses.
• Collect payments, resolve document deficiencies and loan-transaction violations.
• Ensure proper approvals for recommended actions and actions taken.
• Negotiate with borrowers, attorneys, and stakeholders to achieve successful workouts or exits.
• Coordinate with Special Assets leadership, Credit Management, attorneys, auctioneers, and appraisers.
• Oversee foreclosure, litigation, replevin, and liquidation processes for timely execution.
• Manage and support prompt sale of assigned OREO properties and collateral files.
• Maintain compliance with bank and regulatory policies for risk ratings and workouts.
• Provide monthly collateral and portfolio status updates to management.
• Monitor litigation progress on accounts with outside counsel.
• Establish resolution timelines and reduction goals for the portfolio.
• Advise lenders and collaborate across units to ensure efficient distressed asset management.

Skills

Negotiation

Written communication

Oral communication

Financial modeling

Credit analysis

Bankruptcy knowledge

Education

B.S. in Finance or Accounting

Job description

At Community Financial System, Inc. (CFSI), we are dedicated to providing our customers with friendly, personalized, high-quality financial services and products. Our retail division, Community Bank, N.A., operates more than 200 customer facilities across Upstate New York, Northeastern Pennsylvania, Vermont and Western Massachusetts. Beyond retail banking, we also offer commercial banking, wealth management, investment management, insurance and risk management, and benefit plan administration.

Just as our employees are committed to helping our customers manage their finances, we’re committed to our employees. After all, they make it happen for our customers every day.

To ensure our people can enjoy long and successful careers here at CFSI, we offer competitive compensation, great benefits, and professional development and advancement opportunities. As an equal-opportunity workplace and affirmative-action employer, we celebrate and support a diverse workplace for the benefit of all: our employees, customers and communities.

Manages a portfolio of credits (usually over $250,000 each) classified at substandard or worse, including charged off credits and OREO (when applicable).

Manage a portfolio of criticized and classified credits, typically $250,000+, including substandard and worse-rated relationships, charged-off credits, and OREO when applicable.

Key Responsibilities

• Manage a portfolio of stressed and distressed credits to maximize recoveries and minimize losses
• Collect payments and resolve document deficiencies and loan agreement violations
• Ensure proper approvals are obtained for recommended actions
• Negotiate with borrowers, attorneys, and other stakeholders to achieve successful workouts, rehabilitations, upgrades, or exits
• Partner with Special Assets leadership, Credit Management, attorneys, auctioneers, and appraisal teams to support effective resolution strategies
• Oversee foreclosure, litigation, replevin, and liquidation processes to ensure timely execution
• Manage and support the prompt sale of assigned OREO properties
• Review collateral files and oversee property management for assigned OREO assets as needed
• Maintain compliance with bank and regulatory policies related to risk ratings, non-accrual treatment, charge-offs, and workout strategies
• Provide monthly updates to management on collateral values, action plans, and portfolio status
• Monitor litigation progress on accounts placed with outside counsel
• Establish resolution timelines and targeted reduction goals for the assigned portfolio
• Provide guidance to lenders and collaborate across business units to ensure efficient, compliant management of distressed assets
• Maintain current knowledge of applicable laws, regulations, policies, procedures, and internal controls; complete all required training on time

Additional Contributions

• Support the Credit Administration Department and assist with broader departmental and bank goals as needed

Education, Training and Requirements:

• B.S. degree with a major in Finance or Accounting or have met minimum experience in the field satisfactory to the Bank; specialized banking education and training is also required.
• All applicants must be 18 years of age or older.

Skills:

• Proven 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 other liquidation litigation are also needed.

Experience:

• A minimum of five to seven years exposure in special assets at a commercial lending institution including exposure to large and complex credits, participations, loan modifications, bankruptcy and liquidation