Bank Special Assets Manager

AMERICAN BANK OF COMMERCE•Addison, TX

just now•Remote

About The Position

Are you seeking a meaningful, long-term career where you can make a real impact by helping the bank navigate and resolve complex credit challenges? If you are collaborative, detail-oriented, and driven to find solutions, our Special Assets Manager role could be a great fit. In this role, you’ll work alongside lenders, credit teams, legal counsel, and senior leaders to proactively manage problem assets, minimize loss exposure, and lead efforts to bring relationships to resolution—while supporting and developing a dedicated team. We are currently seeking qualified applicants to join our team as a Special Assets Manager in our Texas Markets (DFW/Austin/Lubbock). About the Role: The Special Assets Manager serves as the point person for proactively managing the bank’s problem loans and deposit relationships in conjunction with department staff, lenders, credit staff, legal counsel, and senior management. This role is responsible for minimizing loss exposure, maximizing recoveries, managing criticized/classified assets, and overseeing repossessed/foreclosed collateral through resolution. The role includes supervisory responsibilities for the Special Assets Department staff.

Requirements

10 years of commercial banking experience across consumer, C&I, and CRE lending.
Working knowledge of state and federal banking regulations, and how they apply to this position.
Experience with the overall legal process related to defaulted loans, including, but not limited to, demand requirements, foreclosure processes, bankruptcy codes, litigation, etc.
Knowledge of Texas foreclosure, bankruptcy, receivership, and collateral enforcement processes.
Expert knowledge of loan workout techniques, policies, procedures, and principles of consumer and commercial lending.
Strong research and financial analysis skills.

Nice To Haves

5 years of workout/special assets experience in a regional or community bank preferred.
Bachelor’s degree in business, accounting, economics, finance or a related field preferred.
Experience supervising staff and managing dispositioning OREO/Repossessed collateral preferred.

Responsibilities

Evaluate financial information, collateral, legal documentation, lien priority, and business plan to project the maximum loss exposure. Apply this information to develop a comprehensive workout strategy to ensure optimal loss mitigation to the bank in terms of cost of credit, while maintaining compliance with regulatory requirements
Consult with outside legal counsel regarding the perfection of collateral as well as necessary legal actions and strategies to protect the bank’s interest. Negotiates loan and collateral documentation with the borrowers and their counsel. Analyzes third-party legal documents and negotiates potential arrangements to determine an overall strategy to reduce the bank’s loss exposure.
Act as the primary workout officer for more complex problem loans. Meet with problem loan borrowers, monitor financial performance, establish action plans to correct issues, monitor collateral value and conditions, and provide continuous diligence to mitigate loss exposure to the bank.
Ensure that lawsuits are filed in a timely manner and out-of-court settlements and judgments are monitored.
Manage other team members assigned to the Special Assets Department, providing training, guidance, and oversight towards the success of their job duties. Delegate the collection of debts under $10,000 to department staff and provide oversight and guidance.
Management and disposition of OREO/foreclosed collateral including securing collateral, evaluating condition and marketability, working with brokers and auction firms to market property, monitor and track carrying and preservation expenses.
Provide monthly reporting on progress with workout plans to Special Assets Committee and assist CCO in preparing monthly updates for the board of directors.