Special Assets Officer

Busey Bank•Champaign, IL

22h•Onsite

About The Position

The Special Assets Officer is responsible for managing and monitoring a portfolio of complex commercial loans. Responsibilities include developing collection strategies, action plans, negotiating, and implementing plans to maximize the bank’s recovery.

Requirements

Strong oral and written communication skills
Commercial, real estate, and consumer lending; particularly credit structure and loan policy
Complex credits and strong knowledge of collateral valuation/liquidation
Regulatory agencies, third party loan review, and internal/external auditors
Legal/regulatory requirements pertaining to banking and collections
Regulatory guidelines regarding appraisal/re-appraisal and all other regulatory policies affecting classified/criticized assets
Strong negotiation skills
Ability to analyze credit and develop and negotiate repayment terms with companies and high net worth individuals
Ability to work independently and prioritize daily workflow
Ability to analyze and solve problems for which there are not precedents
Ability to maintain visual attention and mental concentration for extended periods of time
Ability to perform duties and make decisions under frequent time pressures
Requires Bachelor’s degree in Accounting or Finance or equivalent experience.
Requires formal credit training.
Requires 3+ years of direct special assets experience.
Requires knowledge of Microsoft Office.

Nice To Haves

Pursuant to the Secure and Fair Enforcement for Mortgage Licensing Act (“SAFE Act”), all associates (if lending) are required to maintain current registration with the Nationwide Mortgage Licensing System & Registry (“NMLS”). If such registration is not active as of the hire date, the associate must immediately attain active registration upon employment. Personal Bankers who fail to maintain an active and current registration will be unable to lend and may be subject to disciplinary action, up to and including termination of employment.

Responsibilities

Develop collection strategies and action plans for problematic loans.
Prepare detailed analysis and provide recommendations of the collection and action plans.
Negotiate with borrowers, attorneys, and companies to review and re-structure credit and repayment terms.
Implement recovery plans that minimize risk and loss to the bank.
Provide timely and accurate reporting to Special Assets Manager.
Interact with the spectrum of commercial bank customers experience financial distress; displaying tact and persuasiveness.
Interact frequently with lawyers and other outside professionals, both those retained by the Bank and those representing our debtors, setting and pursing the Bank’s agenda.
Seek to minimize out-of-pocket legal and non-legal expenses from debtors whenever possible; maximizes loan recoveries and fee income.
Ensure BSA Compliance.