Special Assets Recovery Strategist

Busey; Carmel (IN); On-site; USD 103,000 - 134,000; Full time

Job summary

Busey is seeking a Special Assets Officer to manage a portfolio of complex commercial loans. You will develop collection strategies, analyze credit structures, and implement action plans to maximize recoveries while protecting the bank’s interests.

The role requires strong negotiation skills, knowledge of collateral valuation, and experience in banking regulations. You will work with borrowers, attorneys, and external professionals, providing clear reporting to the Special Assets Manager.

Qualifications

• Bachelor’s degree in Accounting or Finance or equivalent experience.
• Formal credit training.
• 5+ years of direct special assets experience.
• NMLS registration required if lending; maintain active registration.
• Knowledge of collateral valuation and liquidation; banking regulations.

Responsibilities

• Develop collection strategies and action plans for problematic loans.
• Prepare detailed analyses and provide recommendations of 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 reporting to Special Assets Manager.
• Interact with commercial bank customers experiencing financial distress; display tact and persuasiveness.
• Coordinate with lawyers and outside professionals; pursue bank’s agenda.
• Minimize out-of-pocket legal/non-legal expenses to maximize recoveries and fees income.
• Ensure BSA compliance.

Skills

Strong oral and written communication

Strong negotiation skills

Microsoft Office proficiency

Education

Bachelor’s degree in Accounting or Finance

Job description

Busey is seeking a Special Assets Officer to manage a portfolio of complex commercial loans. You will develop collection strategies, analyze credit structures, and implement action plans to maximize recoveries while protecting the bank’s interests.

The role requires strong negotiation skills, knowledge of collateral valuation, and experience in banking regulations. You will work with borrowers, attorneys, and external professionals, providing clear reporting to the Special Assets Manager.