VP & SAD Officer III

Open Bank • Los Angeles, CA

21d • $80,000 - $100,000

About The Position

We are looking for VP & SAD Officer III to join our Special Assets (SAD) team. The VP & SAD Officer III is responsible for managing the special assets portfolio and the team with a focus on the mitigation of losses for the Bank. Responsibilities include analyzing financial plans, negotiating loan collection, or restructuring, and recommending/overseeing litigation, liquidation, or charge-off of loans.

Requirements

• Bachelor’s degree in Business, Finance, or Accounting, or related field or equivalent experience.
• Minimum five years of experience in lending related positions.
• Ability to retain a broad knowledge of tasks performed in the lending and liquidation functions.
• Good knowledge of lending regulations, lien laws, and loan documentation.
• Present a professional image in dealing with customers, interdepartmental, and external representatives.
• Good written and oral communication skills; ability to communicate effectively and project a professional image when giving and taking information in writing, in person, and over the phone.
• Ability to respond effectively to the most sensitive inquiries or customer complaints.
• Ability to make effective and persuasive speeches and presentations on controversial or complex topics to top management, employees, regulators, or board members.

Responsibilities

• Develop strategies for resolving classified (special asset) loans to minimize losses on the current loan portfolio.
• Analyze financial plans, negotiate loan collections or restructuring, and make recommendations, oversee litigation, liquidation, and charge-off of loans.
• Interact with borrowers to discuss their financial difficulties and negotiate repayment plans.
• Collaborate with legal counsels, collection agencies, and external partners to enforce loan recovery efforts.
• Review and prepare special assets reports for senior management and any additional requested reports.
• Adhere to bank policies and procedures and ensure compliance with legal and regulatory requirements.

Benefits

• Medical, Dental, & Vision insurance for all full-time employees and their immediate family members.
• Life, Accidental Death & Dismemberment, & Long-Term Disability insurance paid 100% by the company.
• Flexible Spending Account (FSA) for eligible out-of-pocket expenses.
• 401(k) Retirement Savings Plan with company match.
• Paid Time Off (PTO) accrued at the time of hire.
• Employee Assistance Program (EAP) offering counseling, online tools, and legal/financial guidance.
• Company paid lunch twice a week.

What This Job Offers

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