VP, Special Assets Officer presso Bank of Ann Arbor

Description

Full Time | Onsite

Position Summary:

Manages an assigned portfolio of performing and non-performing loans, including evaluation, structuring, negotiation, liquidation, monitoring, and reporting on problem assets from Commercial, Mortgage, and Consumer loans. Handles large or more complex portfolios and is a resource for others in the department who may require direction and/or assistance dealing with low to moderately complex relationships.

Key Responsibilities:

1. Transition complex / large problem loan assets from other lending areas to Credit Administration.
2. Recommend and execute strategies (e.g., forbearance, settlement, liquidation) to minimize risk and maximize recovery, aligning with approved restructuring or liquidation goals.
3. Implement approved restructuring or liquidation plans.
4. Oversee the support of Consumer and Mortgage Loan personnel with delinquency communications and loan status changes. 
5. Manage foreclosure and liquidation of real/personal property, coordinate with brokers, auctioneers, or buyers. Coordinate vendors to preserve assets during the redemption period as necessary, and after placed into OREO.
6. Coordinates the management, maintenance, valuation, and ultimate disposal of OREO property and Other Assets Owned.
7. Travel to various client locations as required by the job, meeting clients and stakeholders in face-to-face meetings and conducting assessment of collateral, which mainly consists of local travel.
8. Oversee 1099-A/C reporting. 
9. Identify weaknesses in problem loans, propose and implement approved solutions.
10. Recommend risk ratings, accrual status, impairments, or charge-offs; prepare supporting documentation.
11. Engage legal counsel or financial advisors, coordinate borrower communications.
12. Collaborate with legal counsel on rights and actions; advise Credit Administration Manager.
13. Report discrepancies between loan approvals and documentation.
14. Serve as primary contact with borrowers, with Credit Administration Manager support as needed.
15. Oversee the preparation of internal/external reports, including memos and quarterly watch list.
16. Make decisions on daily overdrafts, NSF, and non-post items.
17. Support goals bank-wide, ensure risk rating consistency, and reserve adequacy.
18. Monitor and resolve delinquencies.
19. Coordinates with the Credit Department to complete approval memos/sheets in current format. 
20. Track compliance with loan covenants and analyze borrower information.
21. Ensure proper documentation storage and maintain borrower folders.
22. Manage watch list reporting and committee preparation; maintain records.
23. Comply with policies and regulations (e.g., FNMA, SBA); maintain agency relationships.
24. Perform additional duties as assigned.

Requirements

Qualifications:

• Experienced credit professional with a strong background in workout lending or portfolio management, specializing in commercial loan restructuring and recovery. 
• Holds a bachelor’s degree in finance or accounting or MBA, with seven to ten years of direct experience managing a commercial loan portfolio and navigating complex credit situations.
• Proficient in analyzing financial statements, assessing risk, and negotiating loan modifications, forbearance agreements, and asset recovery strategies. 
• Skilled in handling legal aspects of defaulted loans, including foreclosure, bankruptcy, litigation, and asset disposition. 
• Known for a detail-oriented, self-driven approach and the ability to manage multiple work out credits with urgency and precision.
• Brings excellent communication and interpersonal skills, enabling effective collaboration with borrowers, legal counsel, and internal stakeholders. 
• Technologically adept, with strong command of banking systems and digital financial tools, including cash management and e-banking platforms. 
• Thrives in fast-paced, evolving environments where strategic thinking and sound judgment are essential.

Physical Demands and Work Environment:

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this position. Reasonable accommodation may be made to enable individuals with disabilities to perform the functions. 

While performing the duties of this position, the employee is regularly required to talk or hear. The employee frequently is required to use hands or fingers, handle, or feel objects, tools or controls. The employee is occasionally required to stand; walk; sit; reach with hands and arms; climb or balance; and stoop, kneel, crouch, or crawl.  At times, there could be periods of work induced stress and extended hours.

The employee must occasionally lift and/or move up to 25 pounds. Specific vision abilities required by this position include close vision, distance vision, color vision, peripheral vision, and the ability to adjust focus.

The noise level in the work environment is usually moderate.