VP Special Assets Officer

Metropolitan Commercial Bank•New York, NY

1d•$140,000 - $150,000•Hybrid

About The Position

The Special Assets Officer will manage a portfolio of criticized and classified loans and develop exit strategies that protect the bank from incurring loan losses. The Special Assets department serves as a bridge between financial institutions and borrowers, working diligently to find mutually beneficial solutions that mitigate losses and help borrowers regain financial stability This position will report to the Head of Special Assets We have a flexible work schedule where employees can work from home one day a week.

Requirements

College degree or equivalent work experience.
10 plus years of commercial loan workout experience at a banking institution.
Strong credit and financial statement analysis skills.
Strong negotiation skills.
In depth knowledge of bank loan risk rating categories and regulations pertaining to problem loans.
Knowledge of complex loan documentation.
Experience with CRE and C&I loans.
Strong foundation of knowledge with foreclosure processes and bankruptcy proceedings.
Experience with preparing internal loan workout reports and presenting same to committees or senior management as needed.
Ability to work directly with counsel as needed.

Responsibilities

Manage and oversee assigned portfolio of criticized and classified loans.
Negotiate workout transactions with borrowers to minimize risk to bank.
Recommend appropriate strategies for resolution of loans to senior management.
Partner with lending team members to assist with watch list credits as needed.
Ensure risk ratings are accurate.
Prepare quarterly Asset Recovery Group Memos and present to committee.
Monitor and assess collateral values of loans in the assigned portfolio and prepare all quarterly impairment/specific reserve memos.
Review and or assist with preparation of credit approvals for credit actions on assigned criticized and classified loans and ensure proper documentation of same.
Work with counsel as needed to document restructures, initiate foreclosure proceedings and/or bankruptcy matters when necessary.

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