Special Assets Officer

The Special Assets Officer is responsible for managing and monitoring a portfolio of complex commercial loans.

• Develop collection strategies and action plans for problematic loans.
• Prepare detailed analysis and provide recommendations for collection and action plans.
• Negotiate with borrowers, attorneys, and companies to review and re‑structure credit and repayment terms.
• Implement recovery plans that minimize risk and loss to the bank.
• Provide timely and accurate reporting to the Special Assets Manager.
• Interact with the spectrum of commercial bank customers experiencing financial distress, displaying tact and persuasiveness.
• Interact frequently with lawyers and other outside professionals, both those retained by the Bank and those representing our debtors, setting and pursuing the Bank’s agenda.
• Seek to minimize out‑of‑pocket legal and non‑legal expenses from debtors whenever possible to maximize loan recoveries and fee income.
• Ensure BSA compliance.

• Strong oral and written communication skills.
• Experience with commercial, real estate, and consumer lending, particularly credit structure and loan policy.
• Experience with complex credits and solid knowledge of collateral valuation and liquidation.
• Knowledge of regulatory agencies, third‑party loan review, and internal/external auditors.
• Knowledge of legal and regulatory requirements pertaining to banking and collections.
• Understanding of regulatory guidelines regarding appraisal/re‑appraisal and other policies affecting classified/criticized assets.
• Strong negotiation skills.
• Ability to analyze credit and negotiate repayment terms with companies and high‑net‑worth individuals.
• Ability to work independently and prioritize daily workflow.
• Ability to analyze and solve problems that have no precedent.
• Ability to maintain visual attention and mental concentration over extended periods.
• Ability to perform duties and make decisions under frequent time pressures.

• Requires a bachelor’s degree in Accounting or Finance or equivalent experience.
• Requires formal credit training.
• Requires 3+ years of direct special assets experience.
• Requires current registration with the Nationwide Mortgage Licensing System & Registry (NMLS) under the SAFE Act; registration must be active upon hiring.
• Requires proficiency with Microsoft Office.

Base pay: $103,000 – $134,000 per year. Potential for bonus or incentive compensation based on performance.

Benefits include 401(k) match, profit sharing, employee stock purchase plan, paid time off, medical, dental, vision coverage, company‑paid life insurance, long‑term disability insurance, supplemental voluntary life insurance, short‑term disability, wellness incentives, employee assistance program, and eligibility for health savings accounts and flexible spending accounts.

Busey is an Equal Opportunity Employer, including Disability/Vets.