Special Assets Officer

Special Assets Officer

Rockland Trust is a full-service commercial bank and financial services company committed to helping our neighbors reach their financial goals. Founded in 1907 and headquartered in Massachusetts, we proudly serve individuals, families, and businesses throughout New England with a strong emphasis on personal relationships, local decision-making, and community impact.

With a broad range of banking, wealth management, and investment solutions, Rockland Trust combines the resources of a growing financial institution with the personalized service of a community bank. Our long-standing philosophy— Where Each Relationship Matters® —guides how we work with our customers, colleagues, and communities every day.

At Rockland Trust, our employees are at the heart of our success. We foster a collaborative, inclusive, and values-driven culture that encourages professional growth, innovation, and work-life balance. We are deeply committed to community involvement, financial education, and creating a workplace where individuals can build meaningful, long-term careers.

Rockland Trust is seeking a Special Assets Officer to manage a diverse number of classified loans as assigned by the Special Assets Manager. The incumbent will promptly devise, negotiate and implement strategies and alternative courses of action to either rehabilitate viable classified loans or maximize recovery of principal and interest and expenses for assigned portfolio of classified loans. They will minimize NPA's, charge offs and delinquency by helping to attain performance metrics quarterly and yearly as stated in the RTC's Non-Performing Projections for C/O, NPA's and overall delinquency for the commercial loan portfolio.

The incumbent reports to the SAG Manager and is accountable to the Chief Credit Officer. The SAG Officer will utilize their credit skills to manage a portfolio of complex criticized Real Estate loans and ORE properties as necessary. Will assist the SAG Manager on specific projects as requested from the SAG Group.

Essential Functions:

• Manage and maintain an assigned portfolio of classified assets, this will include, commercial RE loans, construction projects, ORE as required and national syndicated RE loans.
• Ensure compliance with all internal, external and regulatory compliance matters and issues. Understand completely all specific rules, regulations, and laws that relate to the management of problem credits within financial institutions and specifically Rockland Trust.
• To Perform consistent, timely and high quality credit administration duties including proper ratings of assigned loan portfolio, file maintenance, timely completion of memorandums, status reports.
• Work with a Portfolio Manager for loan restructure approval, including submission to Special Asset Committee.
• Work with a Portfolio Manager for credit analysis in accordance with LUAG for existing relationships with special emphasis on loan restructuring and risk mitigation.
• Work with Portfolio Manager in the preparation of Watched Asset Reports & Classified Assets Reports as needed.
• Work with Portfolio Manager to follow up on loan delinquencies.
• Work with Portfolio Manager to maintain timely renewals of loan maturities for assigned portfolio of criticized assets.
• Monitors current loans and credit lines to ensure compliance with terms.
• Monitors and maintain tracking of existing loans for covenant compliance.
• Facilitate borrower financial reporting submissions to Bank
• Review and recommend accurate relationship risk ratings on an ongoing basis.
• Ensure the timely completion of credit file updates
• Working with Portfolio Manager to communicate with attorneys, customers, consulting groups, appraisers, etc.
• Work with Portfolio Manager in coordinating pre-closing activities.
• Assisting in the resolution of customer inquiries and problems.
• Work with Portfolio Manager to resolve operational/administrative issues.

Core Competencies:

• The candidate shall possess the ability to make complex restructuring and risk mitigation strategies to prevent bank losses, which are based on their analysis of the business' financial condition, cash flow, capacity, collateral and its ability to repay.
• Ability to communicate with existing loan customers, their accountants, and lawyers as needed to obtain information concerning their business, needs, abilities and earnings to determine risk mitigation strategies to prevent losses for the bank.
• Ability to communicate with attorneys as needed to obtain information concerning legal strategies to determine risk mitigation strategies to prevent losses for the bank

Qualifications:

• Formal Credit Training
• 7+ years previous experience in servicing and working with distressed portfolios of large commercial Real Estate loans, ORE is a plus.
• An MBA, Accounting, Finance, Economics or equivalent experience is preferred.

Benefits & Culture

Our goal is to offer our colleagues the most generous benefits package possible. We provide a comprehensive suite of benefits designed to support your health, financial security, and overall well-being. Benefits include: competitive compensation with performance-based incentive awards, health and dental insurance, a 401(k) and DC retirement plan, LTD and life insurance, paid vacation, day care reimbursement, tuition assistance for undergraduate and graduate programs, an award-winning wellness program, and much more!

At Rockland Trust, you'll find a respectful and inclusive environment where everyone has the opportunity to succeed. We are an equal opportunity employer, and all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability status, protected veteran status, or any other characteristic protected by law.

Pay Transparency

Compensation for this role will be based on a variety of factors, including skills, experience, education, and internal equity. The salary range posted reflects the company's good-faith estimate of the range for this position at the time of posting. Actual compensation may vary. In addition to base salary, certain positions may be eligible for additional compensation, including commissions, incentive awards or stipends.

Accessibility & Accommodations

We are committed to providing reasonable accommodations to enable individuals with disabilities to perform the essential functions of their roles.