Special Credit Services Manager (ID:45379)
One of our top local clients is looking to fill a Special Credit/Special Assets leadership position due to an upcoming retirement. If you have depth within Workout and are a Credit guru, read on below and reach out for more information.
This position is responsible for managing the Bank’s Special Assets function and potential loan losses by overseeing the workout and liquidation of problem loans, including identifying and reporting delinquent loans, impaired loans and/or debt modifications.
ROLES & RESPONSIBILITIES:
Manage a loan portfolio to mitigate risk with deals consisting of multiple complexity and loan types - 50%
Supervise and Manage the Special Credit Services Department - 20%
Build and maintain strong internal and external customer relationships - 20%
Manage ORE and repossessed assets appropriately -10%
Required Skills & Experience:
About Versique:
At Versique, we believe people are more than a resume. People invent, propel, unearth, and build. They transform teams, markets, industries, and bottom lines. People do more than fill an open position. They open greater potential. We’re here to help fill your human potential and build your human capacity. The Versique brand represents a powerful combination of “versatile” and “unique”, hinting at the concept of “search” in its pronunciation. In 2023, Versique made the Inc. 5000 list of fastest-growing private companies, along with the Minneapolis-St. Paul Business Journal’s Fast 50 list for fastest-growing private companies in Minnesota. Additionally, for the past four years, Versique has been recognized as a Star Tribune Top Workplace and awarded a Best Place to Work in 2022 by the Minneapolis/St. Paul Business Journal, which speaks to the incredible culture we’ve fostered. We believe people are the ultimate business advantage. Let’s find your people together. And make the best possible.
Versique is an equal opportunity employer committed to creating a diverse workforce. We consider all qualified applicants regardless of race, religion, color, sex, national origin, age, sexual orientation, gender identity, disability, or veteran status, among other factors.
#LI-WP1
ROLES & RESPONSIBILITIES:
Manage a loan portfolio to mitigate risk with deals consisting of multiple complexity and loan types - 50%
- Review and analyze loan documentation, financial statements, and other similar loan and borrower information to assess risk, quantify repayment capacity, consider the adequacy of repayment sources, and/or estimate recovery potential.
- Develop, recommend, and implement workout/liquidation strategies for problem loans, including past-due, underperforming, non-performing, and charged-off loans, to mitigate risk and maximize recovery.
- Adhere to department and corporate guidelines, policies, and compliance procedures.
- Work with other professionals, such as appraisers, environmental consultants, auctioneers, real estate brokers, and property managers, to maximize the return on collateral-secured loans.
- Participate in the Quarterly Asset Quality Review process and produce timely documentation as required.
- Cost-effectively work with legal counsel to achieve desired results.
- Manage and recommend commercial assets for non-accrual or charge-off disposition within budgeted levels.
- Communicate workout strategies and portfolio observations regularly to the Chief Credit Officer and Management.
- Periodically travel to meet with clients or view collateral.
Supervise and Manage the Special Credit Services Department - 20%
- Coach and mentor Special Credit Services officers in proper loan structuring and risk management techniques.
- Within assigned authority, approve collections and loan servicing actions proposed by Special Credit Services staff members.
- Develop annual performance plans for and conduct annual performance reviews of Special Credit Services officers and Special Credit Services area managers.
- In conjunction with the Chief Credit Officer, develop Special Credit Services salary and operating budgets.
- Assign ownership of specific workout credits as appropriate.
- Working with the Chief Credit Officer, ensure appropriate and adequate staffing of the Special Credit Services department.
- Working with the Chief Credit Officer, propose and implement effective, efficient area structures, processes, and procedures.
Build and maintain strong internal and external customer relationships - 20%
- Maintain constructive interaction with regulators.
- Shadow accounts on the line of business and interact with Bank officers when appropriate to provide workout and loan management advice.
- Accept periodic assignments related to various projects and changing risk metrics.
- Attend Watch List and Credit meetings as required and provide feedback on individual credits and portfolio trends.
- Monitor SBA, FSA, and USDA workout loans to ensure that all SOP’s are followed and provide feedback to the SBA team as requested.
- Interact with Credit Management, Market Presidents, and Officers to ensure orderly transition and management of assigned relationships.
Manage ORE and repossessed assets appropriately -10%
- Manage and liquidate all assets acquired (other real estate or repossessed property) in satisfaction of debt to minimize the bank's loss.
- Use third-party valuation tools, appraisals, brokers, vendors, and auction companies to ensure the property is appropriately valued.
- Use auctions, realtors, and other third parties to conduct appropriate marketing efforts to sell the assets within reasonable time limits.
Required Skills & Experience:
- Ten years or more of commercial banking experience, including seven years of collection/work out/special assets.
- Bachelor's Degree in accounting, finance, or equivalent work experience.
- Working knowledge of loan documentation.
- Proficiency with computer technology.
- Prior Supervisory/Department Management experience.
- Ability to be a self-starter and work on their own.
- Effective time management and organizational skills.
About Versique:
At Versique, we believe people are more than a resume. People invent, propel, unearth, and build. They transform teams, markets, industries, and bottom lines. People do more than fill an open position. They open greater potential. We’re here to help fill your human potential and build your human capacity. The Versique brand represents a powerful combination of “versatile” and “unique”, hinting at the concept of “search” in its pronunciation. In 2023, Versique made the Inc. 5000 list of fastest-growing private companies, along with the Minneapolis-St. Paul Business Journal’s Fast 50 list for fastest-growing private companies in Minnesota. Additionally, for the past four years, Versique has been recognized as a Star Tribune Top Workplace and awarded a Best Place to Work in 2022 by the Minneapolis/St. Paul Business Journal, which speaks to the incredible culture we’ve fostered. We believe people are the ultimate business advantage. Let’s find your people together. And make the best possible.
Versique is an equal opportunity employer committed to creating a diverse workforce. We consider all qualified applicants regardless of race, religion, color, sex, national origin, age, sexual orientation, gender identity, disability, or veteran status, among other factors.
#LI-WP1