Special Assets Officer

If you are unable to complete this application due to a disability, contact this employer to ask for an accommodation or an alternative application process.

Credit Regular Full-Time Norwalk, CT, US

6 days ago Requisition

Salary Range: $ To $ Annually

Special Assets Officer working under the direction of the Credit Division to develop and implement strategies for loans and leases considered Special Assets or workout accounts. This individual will be responsible for working with customers to achieve the desired resolution to mitigate risk and maximize recovery to Mitsubishi HC Capital America, Inc. (MHCA). The key area of focus for this role is managing and restructuring distressed accounts loan workout activities for multiple loan segments.

Their primary goal is to minimize potential losses by developing and implementing effective recovery strategies. This position will collaborate closely with the portfolio team, Chief Credit Officer, and underwriting team to maintain acceptable credit loss exposure, credit quality goals and overall organizational risk strategy.

Incumbent must understand, abide, and uphold system of internal controls related to the essential duties of the position.

• Develop strategies to minimize losses on special asset loans.
• Oversee and recommend liquidation or charge-off of loans.
• Monitor and track the progress of restructured loans to ensure adherence to new terms.

• Negotiate loan collection and restructuring directly with clients.
• Conduct site visits and meetings with borrowers to assess financial situations.
• Build relationships with borrowers and internal/external partners.

• Work directly with credit and portfolio management teams to manage non-pass rated loans.
• Collaborate with legal teams to ensure compliance with regulatory requirements during workouts.
• Engage with external professionals (attorneys, appraisers, auditors, collection firms, financial advisors) to enhance recovery strategies.

• Review problem assets and identify possible workout or exit strategies, including identifying and obtaining additional security and/or guarantees to reduce potential loss.
• Analyze troubled accounts, assess borrower finances and collateral value, and develop recovery strategies.
• Understand financial capacity of clients by reviewing industry financial statements.
• Build, review, and update 13-week cash flows and liquidation models to evaluate liquidity and exit scenarios.
• Collaborate with Accounting and portfolio management to recommend appropriate specific reserves where necessary.

• Perform detailed reviews of legal files to determine lender rights.
• Ensure compliance with all regulatory requirements during loan workouts and adjust strategy for changing economic and regulatory environments.
• Manage distressed commercial loans, leases, and asset-based lending (ABL) accounts.
• Oversee restructuring and recovery efforts.

• Prepare reports and track restructured accounts.
• Stay updated on relevant regulations.
• Confidently communicate and negotiate loan terms with borrowers to facilitate restructuring and workout plans.

• Coordinate workout and recovery efforts with internal team members and external resources such as legal counsel, auditors and appraisers.
• Provide consistent review and reporting on distressed credit, including reports to senior management and ICD where applicable.

• Credit assessment, structure, and transaction communication within company prepared guidelines.
• Credit signature…