Senior Special Assets Officer

Western Alliance Bank • Phoenix, AZ

2d

About The Position

As a Senior Special Assets Officer you'll recommend and manage internal and external action plans to resolve adversely graded loans, minimize bank loss and maximize recovery and return to performing status. You'll be responsible for engaging in direct meetings and negotiations with the Borrower and related parties, as well as other 3rd party professionals and vendor. Additionally, as a Senior Special Assets Officer you'll coordinate across departments within the Bank. Responsible for supporting the Special Assets team by preparing, organizing, and maintaining working files on assigned assets, requiring knowledge of all loan and real estate documentation. Communicate with borrowers to identify reasons for problem and negotiate acceptable terms and conditions for reinstatement or curing default. Calculate amounts owed on loans; prepares/reviews reinstatement and payoff statements, default notices, bankruptcy Proofs of Claim. Perform loan and borrower research on loan servicing systems. Prepares loan assumption, forbearance, and loan modification documents. Order and track all necessary third-party reports such as: appraisals, , environmental inspections, property profiles, title reports, invoices, etc. Act as the Bank's Loan Recovery Officer. Initiates Trustee and Attorney engagement packages for foreclosure, receivership, bankruptcy, or other legal actions. Coordinate collection efforts on adversely graded credits with other institutions such as banks, title companies, and the Small Business Administration while maintaining the Banks best interest. Work with assigned accounts to improve the Bank's position to avoid charge offs. Works with charged off credits for further collection possibilities. May lead and develop a team; responsible for hiring, coaching, performance management, training and development.

Requirements

• 8+ years of related experience in Accounting, Financial Analysis or similar field.
• Directly related commercial lending experience, with increasing responsibility for credit analysis and underwriting.
• Minimum of two (2) years of problem loan resolution (consumer and commercial), loan servicing, or related industry experience is preferred.
• Bachelor's degree in related field required.
• Advanced knowledge of general banking operations, including deposit operations, loan administration, treasury management and/or other commercial banking products and services.
• Advanced knowledge of applicable regulatory and legal compliance obligations, rules and regulations, industry standards and practices.
• Advanced knowledge and training in financial statement and tax return analysis typically resulting from a combination of education in accounting, financial and/or credit analysis or related areas.
• Advanced knowledge of commercial, construction, real estate and consumer loan processing.
• Good working knowledge of proper assignment of loan grades for adversely graded credits, working knowledge of identifying impaired loans, choice of methodologies for impairment analysis, identification of accrual status and troubled debt restructures.
• Advanced understanding of the Fair Debt Collections Practices Act, bankruptcy law, debtor/creditor law, and the legal aspects of lending.
• Advanced speaking and writing communication skills.

Responsibilities

• Recommend and manage internal and external action plans to resolve adversely graded loans, minimize bank loss and maximize recovery and return to performing status.
• Engage in direct meetings and negotiations with the Borrower and related parties, as well as other 3rd party professionals and vendor.
• Coordinate across departments within the Bank.
• Support the Special Assets team by preparing, organizing, and maintaining working files on assigned assets, requiring knowledge of all loan and real estate documentation.
• Communicate with borrowers to identify reasons for problem and negotiate acceptable terms and conditions for reinstatement or curing default.
• Calculate amounts owed on loans; prepares/reviews reinstatement and payoff statements, default notices, bankruptcy Proofs of Claim.
• Perform loan and borrower research on loan servicing systems.
• Prepares loan assumption, forbearance, and loan modification documents.
• Order and track all necessary third-party reports such as: appraisals, , environmental inspections, property profiles, title reports, invoices, etc.
• Act as the Bank's Loan Recovery Officer.
• Initiates Trustee and Attorney engagement packages for foreclosure, receivership, bankruptcy, or other legal actions.
• Coordinate collection efforts on adversely graded credits with other institutions such as banks, title companies, and the Small Business Administration while maintaining the Banks best interest.
• Work with assigned accounts to improve the Bank's position to avoid charge offs.
• Works with charged off credits for further collection possibilities.
• May lead and develop a team; responsible for hiring, coaching, performance management, training and development.

Benefits

• We offer all the important things you'd want — like competitive salaries, an ownership stake in the company, medical and dental insurance, time off, a great 401k matching program, tuition assistance program, an employee volunteer program, and a wellness program.
• In addition, you’ll have the opportunity to bolster your business knowledge, learning the ins and outs of how successful companies operate and manage their finances, giving you invaluable hands-on experience to help grow your career!

What This Job Offers

• Job Type: Full-time
• Career Level: Senior