Special Assets Manager

Wilson Bank & Trust•Lebanon, TN

91d

About The Position

The Special Assets Manager manages and resolves loans that are in default, at risk of default, or experiencing other financial distress. The role works to minimize potential bank losses while evaluating recovery and restructuring opportunities. It reports to the Consumer & Small Business Credit Administration and Collections Manager and provides service and support to team members and customers while demonstrating the company’s values and supporting its mission. The position reviews distressed loans, assesses risk and collateral, communicates with borrowers, develops workout strategies, oversees collateral recovery and liquidation, and manages REO properties. It collaborates with management, legal counsel, credit, legal, and loan operations on loan modifications, repayment plans, forbearance, and legal proceedings as needed. It also maintains documentation, verifies compliance, prepares reports, and keeps professional and technical knowledge current.

Requirements

High school diploma or GED.
Three years of experience in a similar role.
Subject matter expertise in collections and special assets.
Strong knowledge of the lending process as a whole.
Proficiency with Microsoft Office and other standard software applications.
Excellent verbal and written communication skills.
Superior analytical and problem-solving skills, with a strategic and business-focused mindset.
Excellent interpersonal skills and the ability to influence, inspire, and align teams.
High standards of integrity, honesty, professionalism, and work ethic.
Commitment to service excellence.
Flexible and efficient time management skills and ability to prioritize workload.
Ability and willingness to work with purpose and a strong sense of urgency.
Self-motivated, positive, and enthusiastic approach.
Self-starter with a strong desire to exceed expectations.
Ability to maintain confidentiality and discretion.
Ability to collaborate effectively with others to achieve business objectives.
Willingness to grow and be challenged.

Nice To Haves

Bachelor’s degree in business, finance, or a related field.
Previous banking experience.

Responsibilities

Manage and resolve loans that are in default, at risk of default, or experiencing other forms of financial distress.
Minimize potential losses for the bank while evaluating recovery and restructuring possibilities.
Assist in managing troubled credits.
Review distressed loans and identify potential risks.
Evaluate collateral, order appraisals and in-house evaluations, and verify collateral documentation.
Communicate with borrowers to explore options for returning loans to performing status.
Partner with management to recommend structures for modifications, repayment plans, and forbearance agreements.
Develop and implement workout strategies to mitigate risk and maximize recovery.
Oversee recovery and liquidation of collateral.
Partner with legal counsel and management to initiate foreclosure, litigation, or bankruptcy proceedings as needed.
Manage REO properties, including maintenance and disposition.
Maintain accurate and timely documentation of workout activities and borrower communications.
Verify compliance with federal and state lending laws, as well as internal policies and procedures.
Prepare and present detailed reports of loan statuses and recovery efforts to management.
Collaborate with business units such as credit, legal, and loan operations regarding adversely graded loans.
Maintain professional and sensitive communication with borrowers during difficult situations.
Maintain professional and technical knowledge through educational workshops, professional publications, personal networks, and professional associations.
Attend training as requested.
Comply with federal bank regulations and laws, including consumer protection requirements and the Bank Secrecy Act/Anti-Money Laundering Program.
Participate in outside community activities as required.
Perform other duties as assigned.