VP & SAD Officer III

VP & SAD Officer III

At Open Bank, we pride ourselves on being different and OPEN to new ideas and opportunities for our clients and employees. We celebrate innovation, diversity, teamwork, excellence, and integrity. We are an equal opportunity employer and offer competitive compensation and benefits package to recruit, retain, and reward top talent. We would like to be your partner in success and happiness!

Join our TEAM - Together Everyone Achieves More

We are looking for VP & SAD Officer III to join our Special Assets (SAD) team. The VP & SAD Officer III is responsible for managing the special assets portfolio and the team with a focus on the mitigation of losses for the Bank. Responsibilities include analyzing financial plans, negotiating loan collection, or restructuring, and recommending/overseeing litigation, liquidation, or charge-off of loans.

Key Responsibilities:

• Develop strategies for resolving classified (special asset) loans to minimize losses on the current loan portfolio.
• Analyze financial plans, negotiate loan collections or restructuring, and make recommendations, oversee litigation, liquidation, and charge-off of loans.
• Interact with borrowers to discuss their financial difficulties and negotiate repayment plans.
• Collaborate with legal counsels, collection agencies, and external partners to enforce loan recovery efforts.
• Review and prepare special assets reports for senior management and any additional requested reports.
• Adhere to bank policies and procedures and ensure compliance with legal and regulatory requirements.

Requirements/Qualifications:

• Bachelor's degree in Business, Finance, or Accounting, or related field or equivalent experience.
• Minimum five years of experience in lending related positions.
• Ability to retain a broad knowledge of tasks performed in the lending and liquidation functions.
• Good knowledge of lending regulations, lien laws, and loan documentation.
• Present a professional image in dealing with customers, interdepartmental, and external representatives.
• Good written and oral communication skills; ability to communicate effectively and project a professional image when giving and taking information in writing, in person, and over the phone.
• Ability to respond effectively to the most sensitive inquiries or customer complaints.
• Ability to make effective and persuasive speeches and presentations on controversial or complex topics to top management, employees, regulators, or board members.

Employee Benefits & Perks

• Medical, Dental, & Vision: Open Bank offers medical, dental, and vision insurance for all full-time employees and their immediate family members. Employees become eligible for insurance benefits on the first of the month following their hire date.
• Life, Accidental Death & Dismemberment, & Long-Term Disability: Open Bank pays 100% of the cost.
• Flexible Spending Account (FSA): Tax-advantaged financial accounts are offered for employees to pay for eligible out-of-pocket expenses (health, dependent care, transit, and parking) with pre-tax dollars.
• 401(k) Retirement Savings Plan: Open Bank matches 100% of the first 6% of employees' contributions. Employees are eligible to participate on the first of the month following 90 days of employment.
• Paid Time Off (PTO): Employees begin to accrue PTO hours at the time of hire to use for vacation, illness, or other personal reasons.
• Employee Assistance Program (EAP): The EAP offers counseling sessions, online tools and resources, and legal and financial guidance for employees and their family.
• Company Paid Lunch: Open Bank provides company paid lunch twice a week.