Special Assets Recovery Specialist

First Mid-Illinois Bancshares, Inc.; Mattoon (IL); On-site; USD 65,000 - 90,000; Full time

Benefits offered by this job

Health benefits

401(k) with match

Employee Stock Purchase Plan

Generous PTO

Tuition reimbursement

Performance-based bonuses

Job summary

First Mid-Illinois Bancshares, Inc. is seeking a Special Assets Officer I to manage a portfolio of classified assets within bank policies, maximizing recoveries on loans, repossessed assets and other real estate owned.

The role emphasizes ethical collection and regulatory compliance. Responsibilities include leading workout plans, reporting risk classifications, reviewing delinquency and bankruptcy reports, coordinating with bank attorneys, and maintaining property and collateral documentation.

Qualifications

• Bachelor’s degree or equivalent of two to four years related experience.
• Strong communication and analytical abilities are required.
• Understanding of bank policies and regulatory requirements.

Responsibilities

• Identify and minimize losses, maximize recoveries on loans, repossessed assets, and OREO.
• Develop/negotiate/workout plans, including restructures and possible litigation.
• Prepare loss mitigation documents in compliance with guidelines.
• Monitor bankruptcy, coordinate with bank attorneys, and oversee asset closings.
• Maintain client contact records and generate required reports.

Skills

Communication skills

Deadline management

Analytical skills

Interpersonal skills

Policy knowledge

Loans knowledge

Computer skills

Education

Bachelor’s degree

Job description

First Mid-Illinois Bancshares, Inc. is seeking a Special Assets Officer I to manage a portfolio of classified assets within bank policies, maximizing recoveries on loans, repossessed assets and other real estate owned.

The role emphasizes ethical collection and regulatory compliance. Responsibilities include leading workout plans, reporting risk classifications, reviewing delinquency and bankruptcy reports, coordinating with bank attorneys, and maintaining property and collateral documentation.