Special Assets Officer

Farmers and Merchants Bank of Long Beach•Lakewood, CA

About The Position

The Special Assets Officer works closely with Special Assets Manager, Credit Administration and Branch lending staff identifying loans that have deteriorated to the point that warrants a downgrade to Criticized or Classified status. This position helps develop and implement strategies to either rehabilitate these loans back to Pass status or to develop and execute an exit strategy that mitigates loss exposure to the Bank. The Special Assets Officer is responsible for gathering and analyzing credit information, conducting extensive in-depth financial and industry analysis, and performing due diligence to evaluate risk and return parameters of financing transactions.

Requirements

Bank Secrecy Act (BSA)
California Civil Code
Complaint Documentation Policy
Eviction Laws and Regulations (Federal, State, County, City)
Fair Credit Reporting Act
Fair Debt Collection Practices Act (FDCPA)
Fair Housing Act (FHA)
Federal Deposit Insurance Act (Federal Deposit Insurance Corporation - FDIC)
Federal Reserve Act
Flood Disaster Protection Act (FDPA)
Foreclosure Laws and Regulations (Federal, State, County, City)
Regulation AA (Unfair or Deceptive Acts or Practices)
Regulation B (Equal Credit Opportunity)
Regulation BB (Community Reinvestment Act - CRA)
Regulation C (Home Mortgage Disclosure – HMDA)
Regulation CC (Expedited Funds Availability Act)
Regulation DD (Truth in Savings)
Regulation E (Electronic Funds Transfer Act)
Regulation O (Insiders Loans Act)
Regulation P (Privacy of Consumer Financial Information Act)
Regulation U (Governs Margin Securities)
Regulation X (Real Estate Settlement Procedures Act - RESPA)
Regulation Z (Truth in Lending Act - TILA)
Servicemembers Civil Relief Act (SCRA)
Telephone Consumer Protection Act (TCPA)
Uniform Commercial Code (UCC)
US Patriot Act
Not all inclusive of regulations, laws & statutes required to perform the position.
Clear understanding of the English Language (Spoken & Written)
Microsoft Office Products (Excel, Word, Outlook)
Laserfiche imaging application
Financial Tools OnTrack application
Jack Henry & Associates core operating system
Familiarity with Bank Products & Services and Policies & Procedures (Operations/Lending)
Basic Mathematics Skills
Customer Service Skills
Strong typing skills
Strong time management and organizational skills
Critical Thinking, Judgment & Problem-Solving Skills
Ability to actively listen & learn.
Desk top Computers.
Standard Office Equipment (copiers, scanners, fax machines)
Requires repetitive movement.
Requires sitting for prolonged periods of time.
Requires lifting 15lb.
Requires using hands to handle, control or feel objects.
Office setting w/controlled temperature
High School Diploma or equivalent required
0 – 5 years loan documentation and loan servicing experience

Responsibilities

Oversee and manage the Criticized and Classified loans from assigned portfolio.
Manage assigned Special Assets Managed loans including but not limited to follow up for financial information and covenant compliance, communication with Borrower along with other Relationship Manager and/or Portfolio Banker duties. Update Special Assets Managed reports, as needed.
Attend weekly Special Assets Committee Meetings and provide pertinent updates to Criticized and Classified loans from assigned portfolio and Special Assets Managed loans.
Review Problem Loan Reports from assigned portfolio.
Prepare Problem Loan Reports for assigned Special Assets Managed loans.
Participate in Credit Administration meetings, Lenders’ Forum meetings, Managers’ Bi-Monthly Meetings, and other required meetings.
Review Problem Loan Reports (PLR) from assigned Branches and assist with updates and corrections of any deficiencies prior to its submission for review and final approval by the special Assets Manager.
Support Special Assets Manager, as requested.
Complete all assigned training.
Interfaces with Relationship Managers and branch lending staff as a Branch resource.
Duties include direct communication with loan borrowers for payment, financial reporting, and financial covenant compliance and monitoring financial trends of borrowers and value of collateral.
Complies with all State and Federal Banking regulatory requirements, including but not limited to: BSA, Anti-Money Laundering OFAC, CIP, Financial Elder Abuse Reporting, Sexual Harassment, Information Security, and privacy requirements. This position will elevate suspicious activity to supervisory staff and/or BSA department. Completes compliance and other technical training workshops as assigned.