Special Assets Officer

JOB SUMMARY

Directs and supervises the Special Asset Department, including loan collection and foreclosure activities;

Responsible for maintenance, security and sale of real estate obtained through foreclosure; negotiates rental, lease or sales agreements.


ESSENTIAL DUTIES AND RESPONSIBILITIES:

• Participates in the financial institution's development of collection policies and procedures for foreclosure, credit for payment of delinquent accounts, and other default procedures.
• Reviews the delinquent loan status for the financial institution, may make contact with delinquent account holders through telephone calls, letters and personal visits.
• Approves subordinate personnel collection activities regarding workouts of loan payments on delinquent accounts, assisting in procedures when necessary.
• Manages reports of current and recently closed residential mortgage and commercial loans ensuring that the information is accurate and in compliance with fair credit reporting regulations.
• Directs foreclosure of delinquent accounts determined to be unresolvable, ensuring that all proper documentation is accounted for and all data are properly entered.
• Works with financial institution legal counsel regarding litigation and foreclosure activities and attends court hearings as required.
• Oversees foreclosed properties for proper management and regular inspections, as well as tax and insurance payments.
• Performs other duties as assigned.

ADDITIONAL RESPONSIBILITIES:

• Attend seminars and meetings as appropriate.
• Comply with all safety policies, practices, and procedures.
• Participate in proactive team efforts to achieve departmental and company goals.
• Perform other duties as assigned.

SUPERVISORY RESPONSIBILITIES:

• Collections Officer

KNOWLEDGE, SKILLS, AND ABILITIES:

• Customer and Personal Service - Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
• English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
• Administration and Management- Knowledge of business and management principles involved in strategic planning, resource allocation, leadership technique, and coordination of people and resources. Strong organizational and analytical skills.
• Sales- Knowledge of principle and methods for promoting and selling products or services.
• Speaking - Talking to others to convey information effectively.
• Writing - Communicating effectively in writing as appropriate for the needs of the audience.
• Computer Skills - Intermediate computer skills including electronic mail, routine database activity, word processing, spreadsheet, etc.
• Clerical - Knowledge of administrative and clerical procedures and systems such as managing files and records, and other office procedures and terminology.
• Accounting - Knowledge of accounting principles and practices, banking and the analysis and reporting of financial data.
• Banking -- Knowledge of financial industry and bank dynamics, and a thorough knowledge of bank's products and services, and bank security and transaction policies.

• Critical Thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
• Monitoring - Monitoring/assessing your performance to make improvements or take corrective action.
• Law and Government - Knowledge of banking laws and regulations.
• Bank Secrecy Act - In the performance of all the respective tasks and duties, employee will maintain knowledge of Bank Secrecy Act regulations and all other regulatory, security and bank policies and procedures.

EDUCATION AND EXPERIENCE:

• Bachelor's degree in related field
• At least six years related experience and/or training;
• Or equivalent combination of education and experience.

PHYSICAL/WORK CONDITIONS: In the performance of respective tasks and duties, the employee is expected to successfully perform the essential functions of the position. Reasonable employee accommodations for physical or mental disabilities will be considered on a case-by-case basis. While performing duties the employee is required to sit, talk and hear frequently, and lift up to 10 lbs. occasionally; may be required to work evenings and/or weekends, attend remote meetings and/or to travel.