Senior Special Assets Officer – Loan Workout and Recovery

Job Highlights

• Title:
  
  Special Assets Officer III
• Type:
  Full Time
• Experience:
  
  4-7 Years
• Function:
  Asset Based Lending
• Location:
  
  Tacoma, WA, United States
• Company:
  Umpqua Bank

Umpqua Bank (held by Umpqua Holdings Corp) mainly operates personal banking/lending, business banking/lending, and wealth management services.

The bank is hiring a Special Assets Officer III who will manage a portfolio of problem commercial borrowing relationships to maximize recovery to the bank through effective implementation of workout and liquidation strategies to mitigate.

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 other staff. Transactions assigned are more technical and complex.

• Bachelor’s Degree in business, finance, related field, or equivalent experience (required)

• 4-7 years of experience in special assets, commercial lending, loan workout, foreclosure, loss mitigation, OREO or real estate sales management, or recovery/liquidation (required)
• Less than 2 years of previous supervisory or lead work experience (preferred)

• Actively learns, demonstrates, and fosters the Umpqua corporate culture in all actions and words.
• Analyze problem loans and make recommendations or approve actions to foreclose, repossess, or liquidate collateral when applicable.
• Demonstrates compliance with all bank regulations for assigned job functions and applies to designated job responsibilities – knowledge may be gained through coursework and on-the-job training. Keeps up to date on regulation changes.
• Direct legal actions, bankruptcy, foreclosure, judgment processes, and repossession or replevin actions for the team’s portfolio. Conduct and manage negotiations and meetings with attorneys and borrowers.
• Embraces our vision to become a “Business Bank of Choice”
• Facilitate meetings with borrowers, guarantors, business bankers, and attorneys to negotiate workout plans that will return loans to performing/pass status.
• Follows all Bank policies and procedures, and compliance regulations, and completes all required annual or job-specific training.
• Handles collections and charge-off accounts, assists lending officers on non-special asset accounts, and prepares management reports as required.
• 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 workout solutions as needed.
• Maintain a working knowledge of the bank’s written policies and procedures regarding the 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 experts.
• Prepare complex analyses related to discounted cash flow and stabilization projections and sell recommendations for approval by senior or executive management.
• 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 or lots in various stages of entitlement.
• Responsible for managing the collection activities on assigned accounts including broken payment follow-up with borrowers, fee waiver, and presenting recommendations for resolutions to more senior workout officers.
• Takes personal initiative and is a positive example for others to emulate.

• Ability to increasingly handle larger and more complex transactions.
• Ability to train and present to small or large audiences or has an interest in learning to train and present.
• Ability to work at a high level of productivity and accuracy with limited supervision and ability to work in a team-oriented, goal-driven environment.
• Advanced knowledge of and experience in financial analysis, bankruptcy, workout, UCC, litigation,…