Bank Special Assets Manager

Description

Are you seeking a meaningful, long-term career where you can make a real impact by helping the bank navigate and resolve complex credit challenges?

If you are collaborative, detail-oriented, and driven to find solutions, this Special Assets Manager role could be a great fit. In this role, you’ll work alongside lenders, credit teams, legal counsel, and senior leaders to proactively manage problem assets, minimize loss exposure, and lead efforts to bring relationships to resolution—while supporting and developing a dedicated team.

We are currently seeking qualified applicants to join our team as a Special Assets Manager in Texas Markets (DFW/Austin/Lubbock).

The Special Assets Manager serves as the point person for proactively managing the bank’s problem loans and deposit relationships in conjunction with department staff, lenders, credit staff, legal counsel, and senior management. This role is responsible for minimizing loss exposure, maximizing recoveries, managing criticized/classified assets, and overseeing repossessed/foreclosed collateral through resolution. The role includes supervisory responsibilities for the Special Assets Department staff.

• Evaluate financial information, collateral, legal documentation, lien priority, and business plan to project the maximum loss exposure. Apply this information to develop a comprehensive workout strategy to ensure optimal loss mitigation to the bank in terms of cost of credit, while maintaining compliance with regulatory requirements.
• Consult with outside legal counsel regarding the perfection of collateral as well as necessary legal actions and strategies to protect the bank’s interest. Negotiate loan and collateral documentation with the borrowers and their counsel. Analyze third-party legal documents and negotiate potential arrangements to determine an overall strategy to reduce the bank’s loss exposure.
• Act as the primary workout officer for more complex problem loans. Meet with problem loan borrowers, monitor financial performance, establish action plans to correct issues, monitor collateral value and conditions, and provide continuous diligence to mitigate loss exposure to the bank.
• Ensure that lawsuits are filed in a timely manner and out-of-court settlements and judgments are monitored.
• Manage other team members assigned to the Special Assets Department, providing training, guidance, and oversight toward the success of their job duties. Delegate the collection of debts under $10,000 to department staff and provide oversight and guidance.
• Manage and disposition OREO/foreclosed collateral including securing collateral, evaluating condition and marketability, working with brokers and auction firms to market property, monitor and track carrying and preservation expenses.
• Provide monthly reporting on progress with workout plans to Special Assets Committee and assist CCO in preparing monthly updates for the board of directors.

We offer a competitive salary and excellent benefit packages. Benefits vary based on employment status and position but can include:

• Medical, Dental, Vision, Telemedicine
• Paid Time off, Paid Volunteer Time, and Paid Holidays
• Flexible Spending Account, Dependent Care FSA
• Basic Life and AD&D Insurance, Voluntary Life and AD&D
• Long-Term Disability
• 401k and Employee Stock Ownership (KSOP) Retirement Plan
• Recruiting Referral Bonus
• Lifestyle Spending Account Program

• 10 years of commercial banking experience across consumer, C&I, and CRE lending. 5 years of workout/special assets experience in a regional or community bank preferred.
• High school diploma or equivalent. Bachelor’s degree in business, accounting, economics, finance or a related field preferred.
• Experience supervising staff and managing dispositioning OREO/Repossessed collateral preferred.
• Working knowledge of state and federal banking regulations, and how they apply to this position.
• Experience with the overall legal process related to defaulted loans, including, but not limited to, demand requirements, foreclosure processes, bankruptcy codes, litigation, etc.
• Knowledge of Texas foreclosure, bankruptcy, receivership, and collateral enforcement processes.
• Expert knowledge of loan workout techniques, policies, procedures, and principles of consumer and commercial lending.
• Strong research and financial analysis skills.