Special Assets Officer

This position is responsible for managing complex, at-risk and problem loans to resolution to ensure maximum recovery for the Bank. The position is split into two levels, Special Assets Officer I and II. Only one position is open, and based on qualifications, candidates will fit into one of the two levels. This position may be based at the Exchange Bank office in Roseville, or Santa Rosa, CA.

ESSENTIAL FUNCTIONS:

Special Assets Officer I

Collections, Bankruptcy, SBA and Foreclosure:  60%    

• Manage all aspects of loans within an assigned, normally less complex, portfolio including the following: loan workouts, bankruptcy, foreclosures, litigation, collection of past due payments, and liquidation of asset(s).
• Monitor SBA portfolio to ensure all liquidation and servicing requirements are met in order to preserve the guaranty.
• Ensure bankruptcy and foreclosure process and legal requirements are followed, working with Bank legal counsel and Special Assets Manager, and within Bank policies and procedures, and SBA Loan Program Requirements.
• Meet with borrowers and /or internal Loan Officers to review problem loan action plans, monitor financial performance, and establish action plans to address problem issues, monitor collateral value and condition, providing continuous diligence to mitigate loss exposure to the Bank.
• Design, recommend and implement approved and appropriate plans and budgets to manage and dispose of properties obtained through foreclosure.
• Request property inspections, engineering studies or construction bids as necessary in the disposal of property.
• Analyze properties and their corresponding markets to determine and recommend appropriate disposition strategies, book values and charge-offs in conformance to Bank policies and procedures and regulatory requirements.
• Coordinate the necessary actions to manage and sell properties working with real estate brokers, potential purchasers, title and escrow companies, receivers, property management firms and other REO property related vendors.
• Supervise sales negotiations with potential purchasers including approval, declination and recommendation to management regarding offers.
• Manage assigned loan-related litigation matters with Bank legal counsel and Special Assets Manager.
• Work with outside consultants on business and/or property management of troubled assets.
• Provide accurate, complete and timely individual loan and overall portfolio reports, including recommendations for non-accrual status, specific loan loss reserves, risk rating changes and charge off.
• Consult regularly with the SAD Manager when identifying and implementing resolution actions.

Watch List Relationships:     30%

• Review, analyze and recommend decisions to resolve problem credit and workout loans with Bank customers.
• Manage assigned Watch List relationships with the goal of upgrading the loan grade on the credit / relationship, or moving them off the Bank’s balance sheet within established timeframes.
• Work directly with borrowers to restructure debt and create workout plans.
• Analyze financial statements, business history and creditworthiness of buyers and borrowers.

Non-Essential Functions: 10%

• Perform special projects and research as assigned.
• Perform other duties as assigned.
• Provide coverage for the Special Assets Specialist job duties, as needed.
• Provide training and mentoring to Special Assets Specialist and other internal partners, as needed.
• Occasional travel and ability to perform on-site visits at borrower’s business location, as needed

Special Assets Officer II

Performs all essential functions listed above with the addition of the following:

Collections, Bankruptcy, SBA and Foreclosure:  70%

• Manage all aspects of large, more complex loans within an assigned portfolio including the following: loan workouts, bankruptcy, foreclosures, litigation, collection of past due payments, and liquidation of asset(s).
• Manage SBA liquidation process including Offer in Compromise and Purchase Guaranty preparation to ensure payment of guaranty, including related negotiations with SBA, as needed.
• Manage the most complex loan work-outs, bankruptcy situations and OREO property disposals. Participate in settlement negotiations with borrower and/or their legal counsel, directly or in a Mediation setting, under supervision of SAD Manager.
• Consult with SAD Manager, as needed, to resolve complex credits.
• Create and provide regular and comprehensive management level reporting in both written and oral format, to include reporting duties assumed from Credit Administration.
• Actively contribute in continuous updating of the department Business Continuity Plan, Job Aids, and department Policy & Procedures, to include creation and/or maintenance of workflows to monitor department activities.

Watch List Relationships:     20%

• Review, analyze, recommend and implement resolutions for complex problem credits and workout loans in the best interest of the Bank.
• Manage complex Watch List relationships to resolution.
• Restructure complex debts and create workout plans to effectively bring resolutions to problem credits.
• Provide an executive level status report of assigned relationships at periodic internal meetings
• Assist in performing periodic impairment analysis for executive reporting, recommending methodology with supporting documentation.

Non-Essential Functions: 10%

• Perform special projects and research as assigned.
• Perform other duties as assigned.
• Provide coverage for Special Assets Specialist job duties, as needed.
• Provide training and mentoring to Special Assets Specialist and other internal partners, as needed.
• Occasional travel and ability to perform on-site visits at borrower’s business location, as needed

MINIMUM QUALIFICATIONS

Knowledge, Skills and Abilities:

Special Assets Officer I:

• Knowledge of bankruptcy laws, understanding of lender liability issues, foreclosures, collections, loss mitigation, and related laws and regulations.
• General knowledge of SBA servicing and liquidations.
• Knowledge of consumer, commercial, commercial real estate lending, construction methods and practices.
• Knowledge of Bank or comparable core operating systems.
• Knowledge of real estate finance, accounting and law.
• Skilled at operating a personal compute including Microsoft Office Word, Excel, Outlook, with intermediate Excel skills preferred.
• Ability to work in a fast-paced environment, comfortable adapting to changing priorities, and work load, demonstrating flexibility/adaptability.
• Proven ability to learn and retain new information.
• Comfortable in speaking professionally to customers, internal partners or industry professionals in the course of resolving troubled credits, in person, by telephone or electronically.
• Possesses initiative, perseverance and problem-solving skills.

Special Assets Officer II:

• Thorough knowledge of bankruptcy laws, full understanding of lender liability issues, probate/deceased borrower, foreclosures, collections, loss mitigation, and related laws and regulations.
• Thorough knowledge of SBA servicing, liquidation and purchase guaranty procedures.
• Thorough knowledge of consumer, commercial, commercial real estate lending, construction methods and practices, including identification of key market trends and real property valuation.
• Thorough knowledge of real estate finance, accounting and law.
• Strong, professional and effective negotiating skills.
• High level of initiative, perseverance and problem-solving skills.
• Demonstrated ability to perform all essential functions independently and make sound recommendations with limited guidance or supervision
• Skilled at operating a personal compute including Microsoft Office Word, Excel, Outlook, with intermediate Excel skills preferred.
• Ability to work in a fast-paced environment, comfortable adapting to changing priorities, and work load, demonstrating flexibility/adaptability.
• Proven ability to learn and retain new information

Licenses and Certifications:

• None

Physical Requirements:

• Ability to stand, bend, stoop, sit, walk, twist and turn.
• Ability to lift up to 25 pounds occasionally.
• Ability to use a computer keyboard and calculator.
• Work environment is indoors, majority of the time is spent sitting at a desk.

Education and Experience:

Special Assets Officer I:

A combination of education and experience equivalent to a Bachelor’s degree in business administration, economics, accounting or related field of study; and knowledge typically gained through a minimum of five (5) years credit administration, loss mitigation, and work-outs.  

Special Assets Officer II:

A combination of education and experience equivalent to a Bachelor’s degree in business administration, economics, accounting or related field of study; and knowledge typically gained through a minimum of seven to ten (7-10) years complex credit administration, Special Assets/work-outs, loss mitigation or legal/litigation experience, with SBA 7(a) Loan Program knowledge a plus.  

Compensation:

The hiring range for this position is $70,000 to $121,000 annually. The compensation offered will fall within this range, commensurate with the candidate's applicable experience, education and skills.