Sr. Special Assets Officer
About The Position
Mechanics Bank is currently searching for a Sr. Special Assets Officer to join our team. Here at Mechanics Bank, we value connection, partnership, long term relationships and working together in person. This role will be based on-site at one of our offices in Irvine, Roseville, or Walnut Creek. Responsible for handling problem commercial loans, which may include C&I and Commercial Real Estate credits. Work with Retail Special Assets group if action is necessary on consumer loans. May oversee REO properties. Primary responsibility is to facilitate the resolution of loans in default or that have other high risk characteristics.
Requirements
- 7 years of experience in special assets management including both C&I and CRE loan involved in litigation and bankruptcy required.
- Knowledge of bankruptcy and litigation processes along with strong negotiating skills are essential.
- Ability to work effectively with senior management and other internal/external parties.
- Understanding of risk grading and accounting concepts is required.
- Strong knowledge of current regulatory requirements for loan restructuring and foreclosure, particularly in California and Washington.
- Strong interpersonal skills and highly collaborative work style is essential.
- Excellent communication skills -- written and oral;
- Strong attention to detail and ability to explain complex situations and resolutions to a broad audience.
- Strong understanding of credit analysis, administration, policy and procedures.
- Proficient with Windows suite of programs (Excel, Word, Access, Lotus Notes).
Nice To Haves
- 4 Year / Bachelors Degree preferred.
- Additional experience may be considered in lieu of degree.
Responsibilities
- Work autonomously and with a team to assess issues with problem loans. Independently develop and recommend strategies to resolve the loans.
- Identify the most cost-effective resolution (retain, exit, liquidate) for loans and REO properties.
- Underwrite loan modifications, prepare periodic reports for loans in the assigned portfolio.
- Develop and implements repayment plans for problem loans.
- Negotiate loan modification terms with clients.
- Recommend risk rating changes and charge offs.
- Apply strong deductive thinking skills that support recommendations presented to senior management along with action plans to minimize further credit losses.
- Primary contact with related third parties in monitoring, servicing, restructuring, collecting, liquidating, and pursuing legal action of problem loan portfolio.
- Regulatory responsibilities include: 1) adhering to and complying with the applicable, federal and state laws, regulations and guidance; 2) adhering to Bank policies and procedures.
Benefits
- Medical, prescription, dental, and vision coverage for employees and their eligible family members
- Employer paid Employee Assistance Program, Life Insurance, AD&D, and Disability benefits
- Health Savings Account with employer contribution
- Healthcare and Dependent Care Flexible Spending Accounts and Commuter/Parking Benefit
- 401(k) and Roth 401(k) with company contribution
- 529 Education Savings plan, Tuition Reimbursement Program and Student Loan Assistance Program
- Supplemental Health plans, Voluntary Legal and Identity Theft Services
- 11 paid holidays, paid Sick days (accrual of one hour for every 30 hours worked), up to 25 paid vacation days, and 16 hours of paid volunteer time throughout the calendar year
- Free personal checking and savings account; Discounted rates on primary residence loan with $0 origination fees (restrictions apply)
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What This Job Offers
Job Type
Full-time
Career Level
Senior
Education Level
Associate degree
