VP Credit Risk & Special Assets

American Bank & Trust•Sioux Falls, SD

1d•Onsite

About The Position

PRIMARY RESPONSIBILITIES AND ACCOUNTABLILITES: (90%) Manages a dedicated portfolio of criticized and classified loans (substandard, doubtful, loss), non-performing assets, and other real estate owned (OREO). Communicates directly with borrowers to develop and implement individualized workout plans, restructuring, or resolution strategies for each credit. Understands how to create effective forbearance agreements, establish repayment plans, and conduct settlements, collateral liquidations, and foreclosure proceedings. Coordinates with external parties, including appraisers, auctioneers, attorneys, receivers and bankruptcy trustees, to execute strategies efficiently. Negotiates directly with borrowers, guarantors, and their advisors to rehabilitate viable credits, or maximize recovery on non-viable credits. Regularly prepares reports for the Chief Credit Officer to provide updates on special asset status, recovery progress, and loss projections. Recommends and oversees charge-offs, recoveries, and Allowance for Credit Losses (ACL) adjustments related to the special assets portfolio. Contributes to the development of special asset policies, procedures, and training for staff on problem loan management and early warning signs. Ensures all loan workout actions comply with regulatory requirements, bank policies, and legal standards; maintains thorough documentation for examinations and audits. SECONDARY RESPONSIBILITIES AND ACCOUNTABILITIES: (10%) Represents Bank in industry and professional associations, community organizations, local business groups, etc., and promotes Bank's favorable image. Remains knowledgeable and abreast of guaranteed government loan programs and other conventional financing programs available to customers. Maintain knowledge of current economic and industry conditions that are relevant to the credit portfolio of the bank. Other duties as may be assigned. ROLE QUALIFICATIONS: Education Bachelor’s degree in Business Administration, Finance or Accounting, or equivalent combination of education and experience Experience 7+ years of direct loan workout experience of commercial, agricultural, and consumer loan portfolios. Proven ability to assess credit risk, determine accurate collateral values and make sound credit decisions. Strong knowledge of commercial, real estate, agricultural, and consumer lending; familiar with SBA, USDA, or other government-guaranteed programs. Deep understanding of bank regulations and risk management best practices. Other Skills and Abilities Experience in a community banking environment, emphasizing relationship banking and local market knowledge Excellent interpersonal and communication skills, both written and verbal, with strong negotiation skills Strong attention to detail and problem-solving ability Ability to interact with customers and employees with tact, diplomacy, and confidentiality Resourceful, innovative, and well organized High ethical standards Comprehensiveness PERFORMANCE MEASURES: Meets or exceeds annual goals as pre-established by the CEO that are aligned with the strategic plan. Compliance with regulatory requirements Meets or exceeds all training requirements. Proactively promotes and develops new customer relationships using the referral system. WORKING CONDITIONS: Work is performed largely within the Bank with limited chance for personal injury. Frequent travel will be required in order to fulfill the duties of the role. Prolonged and frequent mental and visual concentration required. Periodic stressful situations in response to multiple priorities within established deadlines. Work hours are generally during normal business hours. Unscheduled evening and weekend work may be needed to meet the needs of customers and employees. Occasional out-of-town and overnight business travel may be required. Work on some Saturdays will be required. Must be able to lift and move up to 20 pounds of office supplies and equipment. Some bending, turning, and twisting required. GENERAL NOTICE: This position description describes the general nature and level of work performed by the employee assigned to this position and should not be interpreted as all inclusive. It does not state or imply that these are the only duties and responsibilities assigned to the position. The employee may be required to perform other job-related duties. All requirements are subject to change and to possible modification to reasonably accommodate individuals with a disability. This position description does not constitute an employment agreement between the Bank and employee and is subject to change by the employer as the needs of the Bank and requirements of the position change.

Requirements

Bachelor’s degree in Business Administration, Finance or Accounting, or equivalent combination of education and experience
7+ years of direct loan workout experience of commercial, agricultural, and consumer loan portfolios.
Proven ability to assess credit risk, determine accurate collateral values and make sound credit decisions.
Strong knowledge of commercial, real estate, agricultural, and consumer lending; familiar with SBA, USDA, or other government-guaranteed programs.
Deep understanding of bank regulations and risk management best practices.
Experience in a community banking environment, emphasizing relationship banking and local market knowledge
Excellent interpersonal and communication skills, both written and verbal, with strong negotiation skills
Strong attention to detail and problem-solving ability
Ability to interact with customers and employees with tact, diplomacy, and confidentiality
Resourceful, innovative, and well organized
High ethical standards
Comprehensiveness

Responsibilities

Manages a dedicated portfolio of criticized and classified loans (substandard, doubtful, loss), non-performing assets, and other real estate owned (OREO).
Communicates directly with borrowers to develop and implement individualized workout plans, restructuring, or resolution strategies for each credit.
Understands how to create effective forbearance agreements, establish repayment plans, and conduct settlements, collateral liquidations, and foreclosure proceedings.
Coordinates with external parties, including appraisers, auctioneers, attorneys, receivers and bankruptcy trustees, to execute strategies efficiently.
Negotiates directly with borrowers, guarantors, and their advisors to rehabilitate viable credits, or maximize recovery on non-viable credits.
Regularly prepares reports for the Chief Credit Officer to provide updates on special asset status, recovery progress, and loss projections.
Recommends and oversees charge-offs, recoveries, and Allowance for Credit Losses (ACL) adjustments related to the special assets portfolio.
Contributes to the development of special asset policies, procedures, and training for staff on problem loan management and early warning signs.
Ensures all loan workout actions comply with regulatory requirements, bank policies, and legal standards; maintains thorough documentation for examinations and audits.
Represents Bank in industry and professional associations, community organizations, local business groups, etc., and promotes Bank's favorable image.
Remains knowledgeable and abreast of guaranteed government loan programs and other conventional financing programs available to customers.
Maintain knowledge of current economic and industry conditions that are relevant to the credit portfolio of the bank.
Other duties as may be assigned.