Strategic Recovery & Asset Manager

Camden National Bank; Gardiner (ME); On-site; USD 52,000 - 76,000; Full time

Benefits offered by this job

Medical insurance

401(k) plan

Paid holidays

Tuition reimbursement

Job summary

Camden National Bank seeks an experienced Recovery & Asset Management Officer to maximize recovery on charged-off commercial and real estate loans and minimize loss exposure. You will coordinate with outside counsel, courts, borrowers, guarantors, and vendors to develop effective strategies and support loss mitigation efforts.

Primary responsibilities include negotiating settlements, managing foreclosure proceedings, and analyzing distressed credit for viable workout options.

Qualifications

• Bachelor's degree in Business, Finance, Accounting, Legal Studies, Criminal Justice, or related field.
• Minimum of 5 years of experience in commercial loan workouts, special assets, collections, loan recovery, bankruptcy administration, foreclosure management, creditor rights, or related field.
• Experience managing legal collections, litigation, court proceedings, bankruptcy cases, foreclosures, and post-judgment recovery actions.
• Strong knowledge of commercial lending, real estate lending, loan documentation, collateral perfection, creditor rights, and collection remedies.
• Experience coordinating with attorneys, court systems, trustees, government agencies, and third-party vendors.
• Knowledge of bankruptcy laws, foreclosure processes, deficiency recovery, judgment enforcement, and debtor-creditor law.
• Experience analyzing borrower financial statements, tax returns, collateral valuations, and repayment capacity to support workout and recovery decisions.
• Strong negotiation and conflict-resolution skills with ability to manage difficult borrower and legal situations.
• Excellent written and verbal communication skills and ability to prepare professional correspondence and management reports.
• Proficiency with Microsoft Office and loan servicing systems.
• Valid driver's license and ability to travel for court appearances and related activities.

Responsibilities

• Execute recovery efforts for charged-off commercial and real estate loans, maximizing recovery and reducing loss exposure.
• Negotiate loan settlements, repayment arrangements, discounted payoffs, collateral liquidations, and other resolution strategies.
• Coordinate foreclosure, bankruptcy, litigation, judgment enforcement, repossession, and collection activities with outside counsel.
• Represent the Bank in legal proceedings, hearings, mediations, and settlements as appropriate.
• Monitor and pursue collection remedies on charged-off relationships, including judgments and asset attachments.
• Review legal documents, court filings, bankruptcy plans, collateral valuations, and financial information to assess opportunities and risks.
• Maintain relationships with attorneys, appraisers, auctioneers, real estate brokers, and third-party vendors.
• Assist with residential and commercial loss mitigation activities, including loan modifications and forbearance.
• Support foreclosure/bankruptcy portfolio administration by evaluating workout alternatives and ensuring servicing actions.
• Conduct financial analysis of distressed borrowers to identify viable workout strategies and provide recommendations.

Skills

Negotiation skills

Analytical thinking

Communication skills

Legal coordination

Project management

Detail oriented

Education

Bachelor's degree in Business/Finance/Accounting/Legal Studies

Juris Doctor (JD) preferred

Tools

Microsoft Office

Job description

Camden National Bank seeks an experienced Recovery & Asset Management Officer to maximize recovery on charged-off commercial and real estate loans and minimize loss exposure. You will coordinate with outside counsel, courts, borrowers, guarantors, and vendors to develop effective strategies and support loss mitigation efforts.

Primary responsibilities include negotiating settlements, managing foreclosure proceedings, and analyzing distressed credit for viable workout options.