Special Asset Loan Officer I (SPECI012874)

Special Asset Loan Officer I

The Special Asset Loan Officer I manages delinquent loans, collections, and problem / nonperforming loans. This position manages and maintains OREO, OREO sales and rental income, repossessions, and bankruptcies.

Essential Duties And Responsibilities

• Completes required BSA / AML training and other compliance training as assigned.
• The ability to work in a constant state of alertness and in a safe manner.
• Communicates with loan officers and management regarding problem credits (phone calls, meetings).
• Coordinates necessary documentation for collection purposes.
• Facilitates resolution of payment arrangements.
• Reviews, codes, and approves OREO bills, collection bills, and legal bills.
• Prepares management ad hoc reports related to Special Assets and past dues.
• Finalizes OREO sales for closing / application of sale proceeds to GLs.
• Attends legal proceedings and foreclosure sales on behalf of the bank.
• Discusses Bankruptcies / collection cases with legal counsel.
• Reviews and monitors bankruptcy cases and completes bankruptcy claim forms / reaffirmations.
• Manages OREO (maintenance, rental income, utilities, repairs, etc).
• Makes payment arrangements with past due customers.
• Attends meetings and discusses with management problem loans and OREO.
• Locates or skiptraces to find delinquent customers for collection / judgments.
• Communicates with realtors and title companies on pending OREO sales.
• Shows OREO to potential buyers and negotiates sales terms.
• Orders and assigns out repossessions.
• Applies and monitors monthly bankruptcy payments.
• Reviews and monitors past due loans and problem loans for loan adjustments.
• Orders and reviews appraisals for problem loans for transfer to OREO.
• Maintains OREO files.
• Performs any other related duties as required or assigned.

Qualifications

To perform this job successfully, an individual must be able to perform each essential duty mentioned satisfactorily. The requirements listed below are representative of the knowledge, skill, and / or ability required.

Education And Experience

Broad knowledge of such fields as accounting, marketing, business administration, finance, etc. Equivalent to a four year college degree, plus 5 years related experience and / or training, and 3 years related management experience, or equivalent combination of education and experience.

Communication Skills

Ability to read, analyze, and understand common scientific and technical journals, financial reports, and legal documents; Ability to respond to complex or difficult inquiries or complaints from customers, regulatory agencies, or members of the business community.

Mathematical Skills

Ability to calculate figures and amounts such as discounts, interest, commissions, proportions, percentages, area, circumference, and volume. Ability to apply concepts such as fractions, ratios, and proportions to practical situations.

Critical Thinking Skills

Ability to solve practical problems and deal with a variety of known variables in situations where only limited standardization exists. Ability to interpret a variety of instructions furnished in written, oral, or diagram formats.

Additional Information

Required : Banking experience in the field of Special Assets to include knowledge of bankruptcies. Preferred : Bachelors Degree or Special Assets banking experience.