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Special Assets Officer
Location:
Pierre, SD
Description:
Scope of Job: This position is primarily responsible for managing and providing consultation on troubled loans within bank. This position will focus on maximizing recoveries while minimizing risk to the organization. Strong technical, organizational, communication and negotiating skills are important components for this position. Primary Duties: Be knowledgeable of all BankWest policies and procedures, state and federal collection laws and Bankruptcy laws. Maintain compliance to all applicable regulations in efforts to solve delinquency issues.Be knowledgeable of all BankWest lending products for C&I, CRE and Ag lending. Work with Credit Analysts to prepare loan submissions for approval for assigned special assets credits. Manage assigned special assets and act as a consultant to lenders in development and implementation of an appropriate action plan including negotiating workouts, forbearance agreements, restructures, settlements or pursuing litigation to ensure minimal risk to the bank and maximized recovery of debts owed while protecting BankWest's reputation. 1) Assist Lending Teams with customers partially assigned to the special assets area. Provide guidance for drafting letters, forms and mediation notices. Review case for and approve engagement of legal resources, monitor and participate in mediation, foreclosure, forbearance and bankruptcy actions. Hold accountability to timeframes approved as part of the collection plan. 2) As necessary, be responsible for FULL special assets assignment whereby, incumbent becomes the lender of record. After a warm handoff from existing lender, incumbent develops a workout plan, obtains approval and administers the credit.In conjunction with lending teams, make sure ticklers are maintained for customers and required exhibits received in a timely manner. This applies to partial or full assignment of customers to special assets.Maintain required contact with guarantee agencies and other stakeholders to the workout to make sure we are compliant with guarantee program rules and do not suffer a reduced or eliminated guarantee due to non-compliance.Prepare and update Troubled Loan Workout Plans for assigned loans risk rated a 6 or worse. Update these quarterly and discuss during Quarterly Portfolio Review (QPR). Keep ongoing collection notes in OnBase to provide tracking of efforts.As lender of record, be responsible to manage through complex legal issues while managing special assets assignments, engaging legal resources, meeting deadlines, attending mediations, providing required materials and representing BankWest in court and legal hearings as assigned. Secondary Duties: Work as a team with departmental counterparts on planning and implementing assigned projects and products.Participate on various committees and project teams as deemed appropriate by management.Attend, actively participate in organization, job specific training offered, and Quality Service programs.Adhere to all applicable Policies and Procedures of BankWest organization.Community involvement is strongly encouraged.Other duties as assigned.Requirements Education: A Bachelor's Degree in a related field.Applicable experience and/or related certifications may be considered in lieu of degree. Experience: 5 years' lending experience in Ag/Commercial lending area with full knowledge of all underwriting skills including, but not limited to, analysis of financial statements, tax returns, and cash flows.Preferred experience successfully managing special asset relationships from original assignment until all collection activity is completed.Special Assets or workout experience required is preferred. Knowledge and Special Skills: Ability to work dependently and/or independently, under pressure, meet deadlines, and adjust work schedules as needed to complete job responsibilities.Ability to navigate through complex financial issues and pinpoint key action steps that can limit the potential loss in special assets situations.Ability to engage customers in high stress situations to help them understand the critical issues and seek their cooperation in working out of difficult financial situations.Ability to organize and handle multiple responsibilities while delivering quality external and/or internal Customer Service.Strong interpersonal skills to ensure effective communication with external and/or internal customers.Knowledge or ability to learn regulatory requirements pertinent to performance of specified duties in job description.Knowledge of banking terminology and procedures.Ability to skillfully use a variety of application software, learn computer programs, and comprehend the program output.Adhere to Federal Privacy Standards in addition to following BankWest requirements for electronic communication and Social Engineering standards.BankWest is a "Sales Organization" and all employees are expected to participate directly or indirectly with increasing BankWest's presence in their markets as appropriate.
Company:
Bankwest
Posted:
December 26 2023 on ApplicantPro
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More About this Listing: Special Assets Officer
Special Assets Officer is a Jobs Special Assets Officer Job at Bankwest located in Pierre SD. Find other listings like Special Assets Officer by searching Oodle for Jobs Special Assets Officer Jobs.
Special Assets Officer is a Jobs Special Assets Officer Job at Bankwest located in Pierre SD. Find other listings like Special Assets Officer by searching Oodle for Jobs Special Assets Officer Jobs.