Job: Special Assets Manager

GENERAL POSITION SUMMARY:
This position is responsible for the management of an assigned portfolio of diverse problem commercial lease and/or loan relationships with the goal of rehabilitation and final resolution through work-out, restructure and successful negotiation; however, in some cases exit through liquidation and/or litigation as a means to minimizing financial loss (maximizing recovery) net to the Bank.

ESSENTIAL FUNCTIONS/MAJOR RESPONSIBILITIES:

Develop and execute work-out plans to ensure the timely resolution of accounts while minimizing losses and controlling expenses.

Utilizing modifications and restructures when appropriate, including but not limited to note modifications, collateral modifications or borrower/guarantor modifications, to secure a workable resolution to the problem account.

Assists in monitoring collection procedures for charged off leases/loans to assure the timeliness of the disposal of repossessed and foreclosed collateral.

Recommends to SVP, Asset Management the upgrading/downgrading of problem leases/loans and the classification of problem leases/loans, including but not limited to non-accrual and accrual status changes and charge off recommendations.

Develop and provide to management summary and detailed reports outlining the status of the problem lease/loan portfolio with respect to delinquency, asset recovery and trends.

Engage with debtors, debtor counsel, outside counsel and Bank management to gain cooperation in the implementation or corrective account strategies.

Analyze the financial condition of a borrower through financial statements analysis. Use such analysis to make informed decisions in the administration, turn-around or exit of complex credit relationships.

Analyze any collateral, including ORE, and use analysis to assess potential loss. Establish repossession, liquidation/foreclosure techniques on problem leases/loans.

Exercise administrative and personnel authority in hiring, promoting, counseling, disciplining, resolving complaints and grievances, developing work plans, goals and objectives for staff and evaluating individual job performance.

Maintain professional working relationships and provide assistance to all customers and employees.

Interact with other departments within the company in a manner that constructively creates positive change.

Conduct timely and informative personnel reviews of all direct reports.

Work closely with SVP, Asset Management to develop and implement new technological enhancements to increase efficiencies.

Maintain a general knowledge of all bank-wide department policies and procedures.

Ensure proper approvals and authorities have been obtained in final decision making.

Have a broad knowledge of the entire lending activities of Main Street Bank.

Participate in budget preparation and strategic planning as needed.

Keep informed of the laws, regulations and rulings governing leasing and lending.

Continually strive for self improvement by participating in leadership conferences, management seminars and other training courses.

SECONDARY FUNCTIONS:

Any other duties within the scope and ability as directed by the SVP, Asset Management.

Assure a confidential work ethic regarding all company policies, procedures and other pertinent information related to customer records.

Provide feedback to the SVP, Asset Management for recommendations to changes in policy, procedure and/or practice which will enhance employee efficiency.

INTERPERSONAL CONTACTS:

Responsible for ensuring that the best customer care possible is provided to all customers and co-workers, while representing Main Street Bank in a positive and professional manner.

Incumbent has frequent external contact with customers.

Proven ability to deal with a wide range of personalities.

SPECIFIC JOB SKILLS:

Incumbent will be required to utilize problem solving and project management skills to complete job responsibilities within given time frames and allocated expenses.

Detail oriented with a proficiency in proof reading documents and reviewing files for accuracy and completion.

Excellent verbal and written communications skills with demonstrated ability to effectively communicate with all levels of management.

Proficient in Microsoft Word, Excel, T-Value and other P/C applications.

Knowledge of all business activities conducted by Main Street Bank.

Must possess organizational skills which result in the ability to prioritize appropriately and accurately follow-up on tasks.

Ability to analyze information and make decisions independently.

Utilize problem solving skills to complete job responsibilities.

Good accounting/math skills in order to calculate payments, interest rates, residuals and taxes.

EDUCATION AND/OR EXPERIENCE:

Bachelor’s Degree in a business or finance field is preferred, or the equivalent combination of college level coursework and work experience in problem loan administration.

Three to five years lending or credit experience in a commercial lending environment is desired.

Three to five years late-stage collection, recovery or work-out experience in a commercial lending environment.

Three to five years bankruptcy experience in a commercial lending environment.

Previous management experience.