Special Assets Officer

About the Role:

Manage a portfolio of problem commercial borrowing relationships to maximize recovery to the bank through effective implementation of workout and liquidation strategies to mitigate loss. Manages and implements asset disposition plans through effective marketing of bank acquired loan collateral. Other Real Estate Owned (OREO) properties, including development and oversight of short sale strategies and assigned note sales. May supervise and lead the work of others.

Manages the most complex transactions.

Implement or assist in the development of timely workout action plans and effective follow up plans. Evaluate and document bank collateral position, complete business survivability assessments, and recommend alternative work out solutions as needed.

Responsible for managing the collection activities on assigned accounts including broken payment follow up with borrowers, fee waiver and presenting recommendation for resolutions to more senior workout officers.

Direct legal actions, bankruptcy, foreclosure, and judgment processes, and repossession or replevin actions for the team's portfolio. Conduct and manage negotiations and meetings with attorneys and borrowers.

Responsible for asset disposition relative to more complex transactions including: A&D, bulk lots, land development properties, and note sales. May require strategic planning, marketing, and management of bulk land and/or lots in various stages of entitlement.

Prepare complex analyses related to discounted cash flow and stabilization projections and sell recommendations for approval by senior or executive management.

Analyze problem loans and make recommendations or approve actions to foreclose, repossess, or liquidate collateral when applicable.

Facilitate meetings with borrowers, guarantors, business bankers, and attorneys to negotiate workout plans that will return loans to performing/pass status.

Handles collections and charge-off accounts, assists lending officers on non-special asset accounts and prepares management reports as required.

Demonstrates compliance with all bank regulations for assigned job function and applies to designated job responsibilities – knowledge may be gained through coursework and on-the-job training. Keeps up to date on regulation changes.

Follows all Bank policies and procedures, compliance regulations, and completes all required annual or job-specific training.

Maintain a working knowledge of Bank's written policies and procedures regarding Bank Secrecy Act, Regulation CC, Regulation E, Bank Security and other regulations as applicable to this job description.

May be asked to coach, mentor, or train others and teach coursework as subject matter expert.

Actively learns, demonstrates, and fosters the Columbia corporate culture in all actions and words.

Takes personal initiative and is a positive example for others to emulate.

Embraces our vision to become “Business Bank of Choice”May perform other duties as assigned.

About You:

Education Bachelor’s degree in business, finance, or equivalent (preferred)
Experience7-10 years — of experience in special assets, commercial lending, loan workout, foreclosure, loss mitigation, OREO or real estate sales management and/or recovery/liquidation (Required)
Less than 2 years — of previous supervisory or lead work experience (Preferred)
Skills Demonstrated ability to handle large, diverse, and complex transactions.

Ability to handle multiple type of accounts.

May supervise staff or direct business activities of other associates.

Possess strong commercial credit skills, with the ability to assess complex business financial statements and restructure commercial loans accordingly.

Expert knowledge of and experience in financial analysis, bankruptcy, workout, UCC,…