Sr. Special Assets Officer

Mechanics Bank; Irvine (CA); On-site; USD 130,000 - 175,000; Full time

Benefits offered by this job

Medical, prescription, dental, and vis

Employer paid EAP, Life Insurance, AD&

Health Savings Account with employer

401(k) and Roth 401(k)

Tuition Reimbursement

Flexible Spending Accounts

Job summary

Mechanics Bank in Irvine, CA seeks an experienced Special Assets Manager to autonomously assess problem loans, develop strategies, underwrite modifications, and implement repayment plans. You will negotiate terms with clients and coordinate with third parties to monitor, restructure, or pursue legal action for the loan portfolio.

The role requires 7+ years in special assets with knowledge of bankruptcy, regulation, and credit analysis, plus strong communication and collaboration skills.

Qualifications

• 7 years of experience in special assets management including C&I and CRE loan litigation and bankruptcy.
• Knowledge of bankruptcy and litigation processes and strong negotiating skills.
• Ability to work effectively with senior management and internal/external parties.
• Understanding of risk grading and accounting concepts.
• Strong regulatory knowledge for loan restructuring and foreclosure in CA and WA.
• Excellent written and verbal communication; collaborative work style.
• Proficient with Windows programs including Excel, Word, Access, and Lotus Notes.

Responsibilities

• Assess issues with problem loans and independently develop strategies to resolve them.
• Underwrite loan modifications and prepare periodic reports for the portfolio.
• Develop and implement repayment plans; negotiate terms with clients.
• Identify cost-effective resolutions (retain, exit, liquidate) for loans and REO.
• Coordinate with related third parties in servicing, restructuring, and pursuing legal action.
• Provide reports and recommendations to senior management with action plans.

Skills

Special assets management

Negotiation

Credit analysis

Regulatory knowledge

Communication

Team collaboration

Education

Bachelor's degree preferred

Tools

Excel

Word

Access

Lotus Notes

Job description

What you will do:

Work autonomously and with a team to assess issues with problem loans. Independently develop and recommend strategies to resolve the loans. Identify the most cost-effective resolution (retain, exit, liquidate) for loans and REO properties. Underwrite loan modifications, prepare periodic reports for loans in the assigned portfolio. Develop and implements repayment plans for problem loans. Negotiate loan modification terms with clients. Recommend risk rating changes and charge offs. Apply strong deductive thinking skills that support recommendations presented to senior management along with action plans to minimize further credit losses. Primary contact with related third parties in monitoring, servicing, restructuring, collecting, liquidating, and pursuing legal action of problem loan portfolio.

Regulatory responsibilities include:

• adhering to and complying with the applicable, federal and state laws, regulations and guidance;
• adhering to Bank policies and procedures.

Who you are:

4 Year / Bachelors Degree preferred. Additional experience may be considered in lieu of degree. 7 years of experience in special assets management including both C&I and CRE loan involved in litigation and bankruptcy required. Knowledge of bankruptcy and litigation processes along with strong negotiating skills are essential. Ability to work effectively with senior management and other internal/external parties. Understanding of risk grading and accounting concepts is required. Strong knowledge of current regulatory requirements for loan restructuring and foreclosure, particularly in California and Washington. Strong interpersonal skills and highly collaborative work style is essential. Excellent communication skills -- written and oral; Strong attention to detail and ability to explain complex situations and resolutions to a broad audience. Strong understanding of credit analysis, administration, policy and procedures. Proficient with Windows suite of programs (Excel, Word, Access, Lotus Notes).

Other employment information:

Travel Required: 0-10%

ADA Requirements:

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job, the employee is regularly required to sit and talk or hear, and use hands to finger, handle, or feel objects, tools, or controls. The employee is occasionally required to stand; walk; reach with hands and arms; and stoop, kneel, crouch, or crawl. The employee must occasionally lift and/or move up to 10 pounds. Specific vision abilities required by this job include close vision. The noise level in the work environment is usually moderate.

Compensation:

#LI-ML1 Pay Range: $130,000 - $175,000 annually AIP Bonus up to 20%

Benefits:

• Medical, prescription, dental, and vision coverage for employees and their eligible family members
• Employer paid Employee Assistance Program, Life Insurance, AD&D, and Disability benefits
• Health Savings Account with employer contribution
• Healthcare and Dependent Care Flexible Spending Accounts and Commuter/Parking Benefit
• 401(k) and Roth 401(k) with company contribution
• 529 Education Savings plan, Tuition Reimbursement Program and Student Loan Assistance Program
• Supplemental Health plans, Voluntary Legal and Identity Theft Services
• 11 paid holidays, paid Sick days (accrual of one hour for every 30 hours worked), up to 25 paid vacation days, and 16 hours of paid volunteer time throughout the calendar year
• Free personal checking and savings account; Discounted rates on primary residence loan with $0 origination fees (restrictions apply)

Equal Opportunity Employer Statement:

Mechanics Bank is an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, sex, sexual orientation, religion, national origin, age, genetic information, veteran status, or on the basis of disability, gender identity, sexual orientation or other bases prohibited by applicable law. Please view Equal Employment Opportunity Posters provided by OFCCP here.

About Mechanics Bank:

Backed by exceptional capital strength and substantial assets, we are a resilient and resourceful California bank whose core banking and lending principles reflect that of a community bank. For over a century, it has been our foremost commitment to exceed our clients’ expectations every day. With a footprint spanning the state of California, we serve individuals, small and middle‑market businesses, and large corporations with a full range of banking, wealth management and other financial products and services. Our leaders bring diverse backgrounds and experience, and work together to deliver for our clients by embracing a culture that values accountability, teamwork and celebrating success. Our collaborative culture fuels the Bank’s ongoing achievements, allowing us to grow and make a genuine difference in the communities we serve. We also strive to ensure that all employees feel respected and valued based on who they are. When we harness the power of our differences, we achieve more together.

Learn about our History & Heritage

Learn about our Strength & Stability

Learn about our Community Commitment

Mechanics Bank is a Member FDIC and Equal Housing Lender.