Recovery & Asset Management Officer

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The Recovery & Asset Management Officer is responsible for maximizing recovery on charged-off commercial and real estate loans while minimizing loss exposure to the Bank. This position manages complex recovery efforts that require extensive legal involvement, including litigation, court proceedings, judgments, bankruptcies, foreclosures, collateral liquidation, and negotiated settlements. The Officer serves as a liaison with outside counsel, courts, borrowers, guarantors, and third-party vendors to develop and execute effective recovery strategies.

In addition to post-charge-off recovery responsibilities, this role supports the Bank's loss mitigation function by assisting with residential and commercial workout activities. The Officer evaluates distressed credit situations, analyzes repayment and modification options, participates in foreclosure and bankruptcy management, and helps develop solutions designed to preserve collateral value, improve borrower outcomes, and reduce potential losses.

• Execute recovery efforts for charged-off commercial and real estate loans, implementing strategies to maximize recovery and reduce loss exposure.
• Negotiate loan settlements, repayment arrangements, discounted payoffs, collateral liquidations, deeds in lieu of foreclosure, and other resolution strategies with borrowers and guarantors.
• Coordinate foreclosure, bankruptcy, litigation, judgment enforcement, repossession, and collection activities through direct involvement and management of outside legal counsel.
• Represent the Bank's interests in legal proceedings, including court hearings, mediations, depositions, creditor meetings, and settlement conferences, as appropriate.
• Monitor and pursue collection remedies on charged-off relationships, including execution on judgments, attachment of assets, garnishments, and other creditor rights actions.
• Review and analyze legal documents, court filings, bankruptcy plans, collateral valuations, title reports, and financial information to assess recovery opportunities and legal risks.
• Maintain relationships with attorneys, appraisers, auctioneers, real estate brokers, asset recovery firms, and other third-party vendors involved in recovery efforts.
• Assist with residential and commercial loss mitigation activities, including loan modifications, repayment plans, forbearance agreements, short sales, and other workout solutions.
• Support the administration of foreclosure and bankruptcy portfolios by evaluating workout alternatives, preparing recommendations, and ensuring appropriate servicing actions are taken.
• Conduct financial analysis of distressed borrowers to identify viable workout, restructuring, or recovery strategies and provide recommendations to management.
• Maintain accurate documentation, portfolio reporting, and recovery records while ensuring compliance with applicable laws, regulations, investor requirements, and Bank policies.
• Provide support to the Appraisal Review Manager as needed, including assisting with appraisal review-related tasks, documentation, follow-up, and other related activities to support the Bank’s collateral valuation process.

• Bachelor’s degree in Business, Finance, Accounting, Legal Studies,…