Special Assets Officer

Farmers National Bank of Canfield•Canfield, OH

16h

About The Position

SUMMARY: Responsible for portfolio monitoring & tracking, complex credit analysis, risk management research, criticized assets underwriting and training of staff for special projects. ESSENTIAL DUTIES AND RESPONSIBILITIES: Analyze continued credit worthiness of existing borrowers, including, but not limited to those that are considered Watch Credits Prepare credit presentations for existing borrowers. Determine the borrowers’ continued repayment ability, the Bank’s current collateral position as well as monitor exceptions to policy. Suggest an asset quality rating based on relationship review Attend committee meetings as needed. Provide committee(s) with pertinent credit related information, including preparation of such information Ensure the portfolio administration and risk management of each client relationship is in compliance with established Bank credit policy, procedure and business strategy as well as commercial and regulatory guidelines Coordinate/prepare various monthly and quarterly reports such as past due, maturities, financial statement and covenant tracking, forecast reporting and monitor all borrowing base credits Depending on exposure amount, either assist or perform portfolio management duties, which may include delivering documents for assisting with loan closings, meeting directly with customers to review financial performance, or attending Bank group meetings Serve as an active member of the Criticized Asset Committee and create agendas and schedule meetings, record, review, distribute and retain copies of the minutes of all Criticized Asset Committee meetings as the Committee’s Secretary Assist in developing, implementing and maintaining the company loan workout strategy, including Special Asset/Credit policies Assist the Special Assets Manager in preparing for all internal and external audits, which may include correspondence and meeting with internal and external Auditors as well as Regulators Collect and analyze relevant information for loan workout, collateral liquidation and legal actions to recommend workout or liquidation strategies to minimize loss to the bank and maximize recovery Effectively work with Relationship Managers, Special Assets Manager and other lending staff to implement recommended and approved workout strategies that may include negotiating and writing Forbearance Agreement Letters / Settlement Agreement Letters / Legal Actions to mitigate risks to the Bank Manage a specified loan portfolio, which includes, but is not limited to, approving new loan requests, modifications, renewals, troubled debt restructures or identifying relationships for potential debt sales Work with accountants, external legal counsel, opposing counsel and crisis managers to mitigate risks and assist clients Seek to minimize out-of-pocket legal and non-legal expenses related to loan remediation by focusing on cost benefit; recover expenses from debtors whenever possible; maximize loan recovery and fee income Review impairment analyses completed by loan administration, which includes but is not limited to liquidation analyses and NPV calculations Sell business products and services to rehabilitated commercial and existing bank customers as opportunities occur or required by management, typically personal relationships or internal/external referrals Monitor risk in loan portfolio and take appropriate action to minimize credit risk Maintain portfolio delinquency at levels acceptable to management Initiates and monitors liquidation and legal actions carried out by outside professionals Prepare quarterly action plans (CAC Reports) on all managed loans over $400k Act as a servicing officer for a portfolio of troubled and charged off commercial loans Responsible for contacting commercial loan delinquencies in excess of 25 days past due Implement default rates on past due loans to generate additional compensation for the Bank to offset the increase in credit risk Charge fees (forbearance / modification / other) where applicable to make sure the Bank is adequately compensated for services and when risk profiles increase on particular credits Review appraisals and environmental reports to ensure accurate collateral analysis Periodic review of other credit analyses or collections department workflow for accuracy Keep apprised of ever changing regulations with respect to the risk rating of credit / other legal issues surrounding the collection of debts Complete all mandatory and elective training, including BSA (Bank Secrecy Act) and Anti-Money Laundering procedures. Maintain compliance with all appropriate rules and regulations Regular, predictable attendance is an essential requirement of this position Complete all other duties as assigned

Requirements

Bachelor’s degree (BA) in Accounting or Finance from a four (4) year college or university
Minimum of three (3) years of credit analysis and/or loan review experience, preferably in the banking industry
Strong background in working with financial statements and advanced understanding of the information available on financial statements and how they related to the customer’s business operations and ability to repay a loan
Knowledge of Microsoft Word, Excel and Outlook and Internet navigation/research is expected
Ability to clearly and effectively communicate both verbally and in writing

Nice To Haves

An advanced business degree with five (5) years of business related experience preferred

Responsibilities

Analyze continued credit worthiness of existing borrowers, including, but not limited to those that are considered Watch Credits
Prepare credit presentations for existing borrowers.
Determine the borrowers’ continued repayment ability, the Bank’s current collateral position as well as monitor exceptions to policy.
Suggest an asset quality rating based on relationship review
Attend committee meetings as needed.
Provide committee(s) with pertinent credit related information, including preparation of such information
Ensure the portfolio administration and risk management of each client relationship is in compliance with established Bank credit policy, procedure and business strategy as well as commercial and regulatory guidelines
Coordinate/prepare various monthly and quarterly reports such as past due, maturities, financial statement and covenant tracking, forecast reporting and monitor all borrowing base credits
Depending on exposure amount, either assist or perform portfolio management duties, which may include delivering documents for assisting with loan closings, meeting directly with customers to review financial performance, or attending Bank group meetings
Serve as an active member of the Criticized Asset Committee and create agendas and schedule meetings, record, review, distribute and retain copies of the minutes of all Criticized Asset Committee meetings as the Committee’s Secretary
Assist in developing, implementing and maintaining the company loan workout strategy, including Special Asset/Credit policies
Assist the Special Assets Manager in preparing for all internal and external audits, which may include correspondence and meeting with internal and external Auditors as well as Regulators
Collect and analyze relevant information for loan workout, collateral liquidation and legal actions to recommend workout or liquidation strategies to minimize loss to the bank and maximize recovery
Effectively work with Relationship Managers, Special Assets Manager and other lending staff to implement recommended and approved workout strategies that may include negotiating and writing Forbearance Agreement Letters / Settlement Agreement Letters / Legal Actions to mitigate risks to the Bank
Manage a specified loan portfolio, which includes, but is not limited to, approving new loan requests, modifications, renewals, troubled debt restructures or identifying relationships for potential debt sales
Work with accountants, external legal counsel, opposing counsel and crisis managers to mitigate risks and assist clients
Seek to minimize out-of-pocket legal and non-legal expenses related to loan remediation by focusing on cost benefit; recover expenses from debtors whenever possible; maximize loan recovery and fee income
Review impairment analyses completed by loan administration, which includes but is not limited to liquidation analyses and NPV calculations
Sell business products and services to rehabilitated commercial and existing bank customers as opportunities occur or required by management, typically personal relationships or internal/external referrals
Monitor risk in loan portfolio and take appropriate action to minimize credit risk
Maintain portfolio delinquency at levels acceptable to management
Initiates and monitors liquidation and legal actions carried out by outside professionals
Prepare quarterly action plans (CAC Reports) on all managed loans over $400k
Act as a servicing officer for a portfolio of troubled and charged off commercial loans
Responsible for contacting commercial loan delinquencies in excess of 25 days past due
Implement default rates on past due loans to generate additional compensation for the Bank to offset the increase in credit risk
Charge fees (forbearance / modification / other) where applicable to make sure the Bank is adequately compensated for services and when risk profiles increase on particular credits
Review appraisals and environmental reports to ensure accurate collateral analysis
Periodic review of other credit analyses or collections department workflow for accuracy
Keep apprised of ever changing regulations with respect to the risk rating of credit / other legal issues surrounding the collection of debts
Complete all mandatory and elective training, including BSA (Bank Secrecy Act) and Anti-Money Laundering procedures.
Maintain compliance with all appropriate rules and regulations
Regular, predictable attendance is an essential requirement of this position
Complete all other duties as assigned