Special Assets Workout Officer

Camden National Bank • Portland, ME

6d

About The Position

Under the broad guidance of the Director of Special Assets, this role will perform a variety of duties related to management of a specifically assigned classified assets within the bank’s portfolio including the collection of past due payments and resolution of the problem asset. The primary goal of this role is to minimize loss within an assigned portfolio. This position also assists in managing legal activities related to problem loans and establishes and negotiates special asset workout terms.

Requirements

• Bachelor’s degree
• Minimum of 5 years of prior bank experience in either commercial related services or collections/workout activity
• Knowledge of bankruptcy and other related laws
• Ability to interpret legal documentation
• Excellent communication and strong analytical skills and adept in dealing with sensitive information
• Ability to add, subtract, multiply, and divide in all units of measure, using whole numbers, common fractions, and decimals and ability to compute rate, ratio, and percent
• Ability to solve practical problems and deal with a variety of variables in situations where only limited standardization exists
• Strong negotiation skills

Nice To Haves

• 5-10 years previous related experience
• Legal degree and/or related experience

Responsibilities

• Review and authorize accounts to attorneys for legal actions.
• Assist Workout Officer(s) with the management of workout loans.
• Work directly with attorneys to develop and implement legal strategies and processes.
• Review all credit and legal files for completeness and identify potential deficiencies.
• Interview current and/or past account officers to assess current situation.
• Meet with borrowers to address current deficiencies and establish relationships.
• Analyze current financial information and formulate workout strategy, ensuring proper risk rating has been assigned and properly documenting all discussions with borrowers to minimize any potential lender liability.
• Obtain appropriate approvals for established documented workout plan.
• Manage workout plan in accordance with established timeline.
• Ensure all collateral is protected to minimize loss.
• Manage the liquidation of collateral.
• Accountable for managing the individual expenses incurred for loan level cases assigned.
• Prepare and present charge off loans to the charge off committee.
• Participate in Loan review processes on assigned accounts, preparing for and presenting information to various committees.
• Prepare and present written reports as required by bank policy.
• Mentor Loss Mitigation Specialist/Special Assets Officer peers.
• Manage, coordinate and/or participate in single-event and ongoing projects as they arise.

Benefits

• Robust medical, dental, and vision insurance packages
• Generous time off, including paid federal holidays and paid day off for your birthday
• 401(k) retirement savings plan
• Tuition reimbursement, professional development, and career growth opportunities
• Employee assistance program
• Comprehensive wellness program

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level