As a Special Credits Officer - Vice President in Business Banking Risk, you will focus on risk-managing and maximizing the recovery of the bank’s credit exposure through early intervention in dealing with stressed/distressed borrowers or obligors. You will manage and service a problem credit portfolio of small business client relationships with an aggregate exposure greater than $500,000. You will play a key role in identifying credit issues early, allowing the bank to mitigate risk and help manage deteriorating exposure.
Job responsibilities
- Review existing collateral and loan documentation to identify errors, omissions, or other deficiencies, and remediate as needed and to the extent possible.
- Obtain current financial information and collateral valuation(s) in accordance with procedures, and evaluate client's financial strength / capacity and collateral to repay outstanding debt.
- Assess client and facility risk ratings in accordance with procedures.
- Determine stay / leave strategy for individual clients, and develop / implement a plan of action to protect and improve the bank's position in the credit.
- Negotiate satisfactory restructure of credit facilities and obtain additional collateral as appropriate.
- Monitor progress in accordance with approved strategy, and timely document systems to reflect current status.
- Initiate appropriate legal action when necessary to protect interests of the bank, including litigation and liquidation / foreclosure of collateral.
- Document all contact, agreements and discussions that transpire with the client, outside vendors and attorneys.
- Timely submission of loans to the Small Business Administration (SBA) for repurchase when the defaulted credit facility is enhanced with a SBA guarantee.
Required qualifications, capabilities, and skills
- 5+ years of commercial collections and problem credit management experience
- Strong working knowledge of financial statement analysis, standard accounting practices, accounts receivable/borrowing base analysis, and collateral perfection
- Expert understanding of commercial real estate and accounts receivable / inventory lending.
- Strong functional and technical skills: Negotiation and influencing skills, written and verbal communication, decision quality, conflict management, interpersonal, and analytic / problem solving skills.
- Expert knowledge of credit philosophy, policies & procedures, loan documentation, SBA, collections litigation, federal bankruptcy laws, and state collection laws.
- Excellent verbal and written communication skills.
- Excels in high pressure situations and thrives in fast paced environments.