Special Assets Specialist

Job Title: Special Assets Specialist

Reports To: Vice President, Special Assets Manager

Overview: A Special Assets Specialist will be responsible for mitigating risks associated with distressed or non-performing assets. This role requires an understanding of collections, bankruptcy proceedings, and a proactive approach to preserve the bank’s financial interests.

Responsibilities:

1. Collections:

o Develop and implement effective strategies for the collection of non-performing loans and delinquent accounts.

o Conduct thorough analysis of borrower financials to assess the likelihood of repayment and determine appropriate collection actions.

2. Bankruptcy Proceedings:

o Navigate through bankruptcy cases, working closely with legal teams to ensure the bank’s interests are protected throughout the process.

o Prepare and submit required documentation for bankruptcy filings and represent the bank in court proceedings when necessary.

o A working knowledge of bankruptcy laws to include chapters 7, 11, 12 and 13

3. Risk Mitigation:

o Proactively identify potential risks related to distressed assets and implement strategies to mitigate those risks.

o Collaborate with internal departments to assess the impact of economic and market conditions on the bank’s portfolio.

o Recommend accrual status and risk rating changes, as well as charge offs

o Assist with preparing Problem Loan Action Plans

o Meet with borrowers and/or loan Specialist s to review Problem Loan Action Plans and monitor financial performance.

4. Loan Restructuring:

o Evaluate and negotiate loan restructuring options with borrowers to maximize recovery while maintaining positive customer relationships.

o Work closely with credit analysts to assess the feasibility and impact of proposed restructuring plans.

o Review, analyze and recommend decisions to resolve problem credits and workout loans.

5. Compliance and Documentation:

o Ensure compliance with all relevant laws, regulations, and internal policies related to collections and bankruptcy proceedings.

o Maintain accurate and up-to-date documentation for all special assets’ transactions.

Qualifications:

• Bachelor’s degree in finance, business, or a related field is preferred. Or five years experience working with non-performing assets is preferred.

• Proven experience in special assets, collections, and bankruptcy proceedings within the banking or financial industry is preferred.

• Strong analytical skills with the ability to assess complex financial situations.

• Excellent negotiation and communication skills. Professional phone etiquette.

• Knowledge of banking regulations and compliance requirements.

• Ability to work independently and collaboratively in a fast-paced environment.