Special Assets Manager

Job Summary:

The Special Assets Manager is responsible for managing and resolving criticized, classified, non-performing, and other higher-risk credit relationships. This role develops and executes workout, restructuring, collection, liquidation, and recovery strategies designed to minimize credit losses, maximize recoveries, protect collateral positions, and return viable relationships to performing status while maintaining compliance with bank policy, regulatory expectations, and applicable laws.

The Special Assets Manager is responsible for overseeing all collection functions on the loan portfolio. The Special Assets Manager is also responsible for the collection staff and is ultimately responsible for their results as well as overall results of the collection department. In addition, the Special Accounts Manager works closely with credit administration, internal counsel, external counsel, the court system, taxing authorities and the Federal Government as it pertains to the collection of bank loans. The Special Assets Manager also works closely with bank Management as it pertains to the management, accounting and profitably of the collection department.

Essential Duties and Responsibilities

· Manage an assigned portfolio of commercial problem loans, criticized/classified credits, non-accrual loans, troubled debt restructurings, charge-offs, and foreclosed or repossessed collateral.

· Monitor and track loan delinquencies and help resolve delinquency issues on commercial and retail accounts (portfolio) as needed as well as manage the resolution of delinquency issues on GSE and MPF accounts.

· Provide guidance, mentoring, and oversight to special assets, workout, collections, or credit staff as applicable. Work with staff to counsel borrowers with credit problems in an attempt to bring their loan current or to make full repayment in the shortest possible time

· Identify early warning signs of credit deterioration and partner with lenders, credit administration, loan operations, and senior management to determine appropriate action plans.

· Analyze borrower financial information, collateral values, lien positions, guarantor support, loan documentation, repayment capacity, and industry conditions to assess risk and expected loss exposure.

· Develop, document, and execute workout strategies, including renewals, modifications, restructures, forbearance agreements, repayment plans, collateral liquidation, note sales, settlements, litigation, foreclosure, receivership, bankruptcy, or charge-off recommendations.

· Negotiate directly with borrowers, guarantors, attorneys, consultants, trustees, receivers, and other third parties to achieve cost-effective resolutions that protect the bank’s interests.

· Maintain thorough documentation of collection activity, borrower communications, risk assessments, action plans, approvals, resolution status, and bankruptcy status in accordance with bank procedures.

· Coordinate with internal and external legal counsel on bankruptcy matters, foreclosure actions, collateral repossession, litigation, judgments, settlements, and other legal remedies.

· Oversee collateral protection activities, including insurance monitoring, tax status review, lien perfection, collateral inspections, appraisals, environmental matters, preservation expenses, and OREO or repossessed asset disposition.

· Prepare and present timely reports to credit committees, executive management, board committees, auditors, and regulatory examiners regarding portfolio trends, action plans, loss estimates, recoveries, and emerging risks.

· Ensure compliance with applicable banking regulations, commercial loan policy, collection requirements, charge-off procedures, SBA or government-guaranteed loan requirements where applicable, and internal control standards.

· Assist with risk rating recommendations, allowance or reserve analysis, impairment documentation, problem loan reporting, and credit administration projects as assigned.

· As needed, coordinate with the loan servicing department and lenders to make sure that renewals and extensions are processed in a timely manner to minimize past due loans.

· As needed, coordinate the sale and closing of all Bank Owned or OREO Properties with counsel, title companies, realtors and the buyer. Review the OREO sale documents and close or attend the closing of same for the bank.

Required Qualifications

· Bachelor’s degree in finance, accounting, business administration, economics, or a related field; equivalent experience in special assets management and collections will be considered in lieu of a bachelor’s degree.

· Five or more years of commercial real estate, C&I, construction, SBA, or government-guaranteed loan workout, special assets, and problem credit management experience.

· Five or more years of residential mortgage, home equity, consumer auto, personal secured and unsecured loans, and overdrafts collections experience. Freddie Mac, Fannie Mae and Bankruptcy servicing are also required.

· Extensive knowledge of consumer loan regulations.

· Have an extensive knowledge of the rules and regulations regarding chapter 7 and 13 bankruptcies, as well chapter 11 and 128 bankruptcy plans to assist in the handling and servicing of the accounts of bankrupt borrowers.

· Experience with OREO management, collateral liquidation, receiverships, environmental due diligence, and bankruptcy proceedings.

· Prior management experience is required with a minimum of 1 year of supervisory experience in a financial environment.

· Strong understanding of commercial loan structures, financial statement analysis, collateral valuation, risk ratings, loan documentation, collections, foreclosure, bankruptcy, and regulatory expectations.

· Demonstrated ability to analyze complex credit situations, develop practical resolution strategies, and negotiate effectively with borrowers and third parties.

· Working knowledge of bank policies, credit approval processes, loan review expectations, charge-off practices, and applicable laws and regulations.

· Strong written and verbal communication skills, including the ability to prepare clear action plans, committee reports, and management updates.

· High level of judgment, professionalism, confidentiality, urgency, and attention to detail.

· Experience leading or supporting the implementation or development of collections system

· Experience working with regulators, auditors, loan review, executive credit committees, or board-level reporting is preferred.

Key Competencies

· Credit risk assessment and problem-loan resolution

· Negotiation and conflict resolution

· Financial and collateral analysis

· Regulatory and policy compliance

· Sound judgment and decision-making

· Relationship management and internal collaboration

· Clear documentation and executive-level reporting

· Leadership, coaching, and accountability