Special Assets Manager

Special Asset Manager

The position includes a diverse range of responsibilities in managing the special assets portfolio. Specific responsibilities include analyzing financial data to assess risk, developing strategies for clients in financial distress, and collaborating with team members to facilitate solutions. This position involves frequent contact with customers, vendors, the general public, and bank staff. The pay range for this position is $65,227 - $97,841 / annual.

Principal Responsibilities and Duties :

• Manage daily operations of the special asset department.
• Review reports for past due consumer loans, real estate loans, and commercial loans daily.
• Daily review of the deceased report and issue adverse action notices in accordance with policy.
• In conjunction with the production department managers and loan officers, make telephone calls to past due accounts to set up a repayment plan and work towards solving delinquency.
• Ensure all comments on delinquent loans are updated in JH to track correspondence with customers.
• Mail collection letters using the Enhanced Collection Form Letters on the Intranet.
• Review activity on past due loans report daily for posting errors.
• Work, in conjunction, with the credit department on the quarterly completion of problem loan reports.
• Maintain a working knowledge of bankruptcy, foreclosure, and deed-in-lieu proceeds and policies, the settlement offer process, and loan modifications requirements.
• Check the regular mail and bankruptcy email box daily for bankruptcy notices.
• File claim on Pacer if needed.
• Skip trace hard to contact customers using TLO system.
• Liquidation of repossessed assets per company policy.
• Prepare deficiency / surplus letter to borrowers in a timely manner.
• Report all repossessions to the Chief Credit Officer and Chief Loan Operations Officer in a timely manner.
• Coordinate with loan operations and credit department on the OREO / OPPA process.
• Update special messages on past due accounts.
• Check delinquent loans for tax deeds, inquire on property taxes, and look for proper insurance.
• Develop and maintain solid working relationships with bank legal council to work through foreclosures, etc.
• Develop and maintain solid working relationships with law enforcement and other public officials who may be called upon for assistance.
• Complete non-accrual or charge off forms monthly.
• Review charge offs regularly to determine whether to send file to collection agency or collect the loan in house.
• Review loan delinquency report monthly.
• Chair and coordinate the special assets committee at least twice a month to review loan delinquencies and / or action items.
• Coordinate with mortgage loan servicing center on delinquent real estate portfolio loans.
• Collaborate with division president, chief credit officer, HR, and admin team on a consistent, transparent, and proactive solutions-based approach.
• Share departmental and / or branch issues, concerns, and / or needs with senior leadership as early as possible along with recommendations for consideration by leadership.
• Complete required bank training courses within assigned time frame(s).
• Must comply with all company policies and procedures and all applicable laws and regulations, including but not limited to the Bank Secrecy Act, the Patriot Act, and the Office of Foreign Assets Control.
• Consistently maintains regular and reliable attendance.
• Adhere to Wheatland Bank core values.