Managed Assets Officer - SBA Liquidation & Workout

Berkshire Bank•Boston, MA

12h•Remote

About The Position

Under the general supervision of the Director of Managed Assets, the individual will be responsible for managing a portfolio of Small Business Administration (SBA) and commercial criticized and classified loan relationships, and for implementing timely workout strategies to minimize losses for the Bank. They will collaborate with the Director of Managed Assets, the Managed Assets Team Leader, and Credit Risk colleagues with the goal of improving the overall corporate asset quality by developing sound strategies for minimizing losses, maximizing recoveries in an operationally efficient and cost-effective manner. This position will provide additional support to Managed Asset initiatives as needed.

Requirements

4+ years of related credit/lending/workout industry experience with loans ranging from $100,000 to $5 million.
Ability to identify, understand and define problems, evaluate alternatives, set priorities, and implement high quality solutions that support the overall goals of the Bank.
Ability to work collaboratively with a variety of stakeholders at all levels.
Proactively identifies opportunities, anticipates challenges, and takes ownership of actions to drive results without requiring direction.
Have strong organizational, project management, time management, and planning skills with the ability to directly manage multiple projects and priorities depending on organizational needs and strategies.
Possess strong communication skills both verbally and in writing.
Demonstrate proficiency in portfolio management and monitoring, negotiating, and litigation management.
Strong negotiation, interpersonal, project management, and legal/collection skills.
Proficiency in MS Office Suite and SBA reporting.

Nice To Haves

In-depth knowledge of SBA lending policies and procedures, preferred.
ncino, and IBS Insight helpful.

Responsibilities

Manages and resolves a portfolio of distressed loans, ensuring effective strategies to mitigate credit, legal and reputational risk, while facilitating the Repurchase /Settlement of applicable SBA Guaranty. Responsibility to design and implement customized approaches for each loan relationship to maximize recoveries and minimize losses.
Act as a primary contact with the Small Business Administration to ensure compliance and protection of guaranteed loans.
Analyze and prepare written approval memorandums for waivers, amendments, restructuring and forbearance agreements
Responds timely, creatively, and effectively to changing and challenging dynamics as situations unfold, including bankruptcies, litigation, and uncovering new information that may reshape original strategies.
Effectively communicates with customers, employees at all organizational levels, and external third parties, including delivering complex or sensitive messages.
Evaluates the collectability of indebtedness by analyzing collateral -including real estate, business assets, and guarantees - through site inspections and comprehensive reviews of appraisals, evaluations, Broker’s Preferred Opinions (BPOs), field examinations, tax returns, operating statements, personal financial statements, credit reports, and asset searches.
Identifies and recommends appropriate outside counsel at the optimal time for workout situations and effectively oversees counsel’s efforts to protect the Bank’s interests.
Demonstrates a thorough understanding of the Bank’s loan rating system and promptly recommends appropriate risk rating adjustments, including upgrades and downgrades, as needed.
Collaborates as part of a team with line officers on Managed Asset Group (MAD) “consults” and with others in MAD and CRM
Conducts quarterly Watch List Reviews and presentations to Senior Management.
Maintains well documented credit files.