Special Assets & Recovery Specialist

BankWest; Pierre (SD); On-site; USD 65,000 - 90,000; Full time

Job summary

BankWest in Pierre, SD seeks a dedicated Special Assets professional to manage troubled consumer loans and depository relationships, focusing on maximizing recoveries while controlling risk. The role may handle less complex ag/commercial credits and coordinate with SAM on complex cases.

The position requires a Bachelor’s degree and 3 years of lending experience, with strong analytical, regulatory and negotiation skills to support branch teams and oversee collections, workouts, and potential

Qualifications

• Bachelor's degree in a related field.
• 3 years' lending experience in consumer banking or ag/commercial lending.
• Experience managing special asset relationships from assignment through completion.
• Ability to analyze financial statements, tax returns and cash flows.
• Knowledge of regulatory requirements and banking terminology.

Responsibilities

• Responsible for the collections of depository accounts closed with negative balances.
• Responsible for special assets assignments including troubled consumer loans and less complex ag and consumer loan relationships.
• Provides support and communication to Branches seeking advice on collection and repossession needs and acts as Subject Matter Expert on policy and regulatory requirements for consumer collection activities.
• Conform to all consumer and commercial rules and regulations regarding collection activity including providing property notice of collections, notices to borrower of redemption rights, provide proper notice of liquidation of collateral in a commercially reasonable manner, etc.
• Contacts delinquent borrower, accepts a transfer of responsibility when assigned by the SAM, develops and gains approval for a workout or plan.
• Implement plan to limit loss exposure for BankWest. Including representing the bank in mediations, bankruptcy proceedings, customer meetings, maintaining required contact with guarantee agencies and other stakeholders to the workout.
• Oversee the repossession process and initiation of foreclosure proceedings when necessary for consumer loan and for ag or commercial relationships as assigned by SAM.
• Communicates routine updates regarding past due payments, overdrafts deposit accounts, pending loan documentation, and workout or liquidation plan to supervisor and officers.
• In conjunction with other Special Assets personnel, is responsible to manage complex legal issues including engaging legal resources, meeting deadlines, providing required materials and representing BankWest in court and legal hearings as assigned.
• Maintenance of charged off loan files and closed depository accounts. Continue to pursue charge off loans/accounts for recovery, either directly or through local collection agencies. Collection and application of recovery payment. Including collection of judgments and accounts assigned to collection agency.
• Assist RE department with servicing/collection of SDHDA/Manufactured Housing loans as requested.

Skills

Special Assets

Loan Collections

Regulatory Knowledge

Customer Communication

Legal Coordination

File Documentation

Education

Bachelor's Degree

Job description

BankWest in Pierre, SD seeks a dedicated Special Assets professional to manage troubled consumer loans and depository relationships, focusing on maximizing recoveries while controlling risk. The role may handle less complex ag/commercial credits and coordinate with SAM on complex cases.

The position requires a Bachelor’s degree and 3 years of lending experience, with strong analytical, regulatory and negotiation skills to support branch teams and oversee collections, workouts, and potential