Special Assets is responsible for managing, restructuring, and resolving problem loans, distressed assets, and other underperforming credit exposures. Activities may include:
- Monitoring asset performance
- Developing remediation strategies
- Negotiating workout solutions
- Mitigating losses
- Supporting portfolio risk management
- Other duties as assigned
Position Accountabilities
- Manages a portfolio of criticized and classified loans, developing and executing workout strategies to minimize delinquency, charge-offs, and loss exposure
- Evaluates problem loan relationships, develops recommendations for resolution, negotiates repayment arrangements with borrowers or their representatives, and monitors adherence to approved agreements.
- Oversees bankruptcy, foreclosure, repossession, and other recovery activities, including the management and disposition of acquired assets.
- Ensures assigned assets are appropriately risk rated and reserved, and recommends accrual status changes and charge-offs on a timely basis
- Provides guidance to lending staff regarding the identification, evaluation, and resolution of deteriorating credit situations to minimize losses and maximize recoveries
- Communicates with Relationship Managers and senior management, providing reporting, analysis, and recommendations as required
- Maintains compliance with applicable laws, regulations, policies, and training requirements
Career Level Definition
Recognized subject matter expert in a job area typically obtained through advanced education and work experience. Responsibilities typically include:
- Managing large projects or processes with limited oversight from manager.
- Coaching, reviewing and delegating work to lower level professionals.
- Problems faced are difficult and often complex.
Knowledge & Experience
- Bachelor's Degree required; equivalent combination of education and experience may be considered
- Typically requires 6 - 8+ years prior experience, with deep knowledge of job area
- Subject matter expertise in commercial loan workouts, distressed asset management, bankruptcy, foreclosure/repossession processes, and other legal remedies available to the Bank.
- Advanced knowledge of commercial lending, credit administration, loan servicing, and related policies and procedures.
- Demonstrated ability to independently manage complex credit relationships, workout strategies, and recovery efforts with limited management oversight.
- Working knowledge of SBA loan workout requirements and procedures.
- Strong problem-solving, decision-making, negotiation, communication, organizational, and relationship management skills.
- Results-oriented with the ability to exercise sound judgment in challenging situations.
Compensation offered will be based on a variety of factors, including but not limited to education, work experience, skills, certifications, and geographic location, etc.
Eligible teammates may participate in a comprehensive benefits package that includes medical, dental, vision, life insurance, disability coverage, paid time off, retirement savings through a 401(k) plan, wellness resources, and other programs designed to support teammates' health and financial well-being, subject to plan terms and eligibility requirements. In addition, certain positions may be eligible for incentive compensation, bonuses, or other variable compensation, subject to applicable plans and performance criteria. General information on our comprehensive benefits package can be found by visiting Employee Benefits | Banking Career Benefits | Atlantic Union Bank
We are proud to be an Equal Employment Opportunity employer. We maintain a drug-free workplace.