Special Assets Officer

Rockland Trust•MA, MA

1d•$170,000 - $185,000

About The Position

Rockland Trust is seeking a Special Assets Officer to manage a diverse number of classified loans as assigned by the Special Assets Manager. The incumbent will promptly devise, negotiate and implement strategies and alternative courses of action to either, rehabilitate viable classified loans or maximize recovery of principal and interest and expenses for assigned portfolio of classified loans. They will minimize NPA's, charge offs and delinquency by helping to attain performance metrics quarterly and yearly as stated in the RTC's Non-Performing Projections for C/O, NPA's and overall delinquency for the commercial loan portfolio. The incumbent reports to the SAG Manager and is accountable to the Chief Credit Officer. The SAG Officer will utilize their credit skills to manage a portfolio of complex criticized Real Estate loans and ORE properties as necessary. Will assist the SAG Manager on specific projects as requested from the SAG Group.

Requirements

Formal Credit Training
7+ years previous experience in servicing and working with distressed portfolios of large commercial Real Estate loans, ORE is a plus.
An MBA, Accounting, Finance, Economics or equivalent experience is preferred.

Nice To Haves

The candidate shall possess the ability to make complex restructuring and risk mitigation strategies to prevent bank losses, which are based on their analysis of the business’ financial condition, cash flow, capacity, collateral and its ability to repay.
Ability to communicate with existing loan customers, their accountants, and lawyers as needed to obtain information concerning their business, needs, abilities and earnings to determine risk mitigation strategies to prevent losses for the bank.
Ability to communicate with attorneys as needed to obtain information concerning legal strategies to determine risk mitigation strategies to prevent losses for the bank

Responsibilities

Manage and maintain an assigned portfolio of classified assets, this will include, commercial RE loans, construction projects, ORE as required and national syndicated RE loans.
Ensure compliance with all internal, external and regulatory compliance matters and issues. Understand completely all specific rules, regulations, and laws that relate to the management of problem credits within financial institutions and specifically Rockland Trust.
Perform consistent, timely and high quality credit administration duties including proper ratings of assigned loan portfolio, file maintenance, timely completion of memorandums, status reports.
Work with a Portfolio Manager for loan restructure approval, including submission to Special Asset Committee.
Work with a Portfolio Manager for credit analysis in accordance with LUAG for existing relationships with special emphasis on loan restructuring and risk mitigation.
Work with Portfolio Manager in the preparation of Watched Asset Reports & Classified Assets Reports as needed.
Work with Portfolio Manager to follow up on loan delinquencies.
Work with Portfolio Manager to maintain timely renewals of loan maturities for assigned portfolio of criticized assets.
Monitors current loans and credit lines to ensure compliance with terms.
Monitors and maintain tracking of existing loans for covenant compliance.
Facilitate borrower financial reporting submissions to Bank
Review and recommend accurate relationship risk ratings on an ongoing basis.
Ensure the timely completion of credit file updates
Working with Portfolio Manager to communicate with attorneys, customers, consulting groups, appraisers, etc.
Work with Portfolio Manager in coordinating pre-closing activities.
Assisting in the resolution of customer inquiries and problems.
Work with Portfolio Manager to resolve operational/administrative issues.