Special Assets Manager

Special Assets Manager

Department: Collections Department

Reports to: VP, Director of Credit and Collections

Supervises: Collectors

Status: Full Time/ Exempt/ Onsite

Must already be authorized to work in the United States. Relocation is not provided.

Partners Bank is a rapidly growing community bank with operations in Maine and New Hampshire that has established superior service level expectations. We offer generous compensation and benefits while fostering opportunities for growth and flexible work schedules when appropriate.

Summary: The Special Assets Manager manages and mitigates risk associated with the Bank's delinquent, distressed or non-performing loans and assets. This role involves developing strategies to minimize losses, negotiating loan restructures, and working closely with borrowers to maximize recovery efforts. The Special Assets Manager will collaborate with internal departments, legal counsel, and external stakeholders to protect the Banks financial interests.

Job Requirements:

Minimum ten years of experience in commercial, residential and consumer loan collections and loss mitigation. Leadership and direct customer contact experience required.

Bachelors degree in business administration, finance or equivalent is required.

Exceptional oral/written communication and interpersonal skills necessary to negotiate with and persuade consumer, commercial borrowers and/or legal counsel and to interact with Bank management.

Strong knowledge of Commercial, Residential and Consumer Collection rules and regulations including Uniform Commercial Code, general banking, bankruptcy, mortgage and foreclosure and lender liability issues.

Ability to compel borrower to meet deadlines, obtain documents when they are due, and to coordinate with the Bank.

Proficient computer skills including Microsoft Office and other data applications or programs required in managing the daily tasks assigned.

Ability to detect and define problem loans, collect data, establish facts, and draw valid conclusions.

Skill to handle complex legal matters, foreclosures, bankruptcies, collateral liquidation and the servicing administration of State, Federal Government Loan programs.

Analyze credit risk and recommend methods to improve results or minimize losses.

Strong problem-solving skills and negotiation skills to present perspective workout options.

Excellent working knowledge of all types of loan documents and collateral assignments.

Some travel may be required.

Job Function Summary:

Responsible for all activities and procedures related to criticized and delinquent loan management.

Responsible for the workout and restructure process, including but not limited to, developing or assisting lenders and Bank leadership with workout plans, submit recommendations to appropriate loan authority, assign appropriate risk rating, accrual status, and manage the criticized action plans.

Maintain excellent communication and collaboration with internal customers.

Preparation and delivery of reports and analytics to management, Board of Directors, and/or regulatory agencies.

Production of monthly/quarterly Asset Quality reports for relationships assigned to Special Assets.

Maintain regular contact with borrower(s) and/or guarantor(s), recommend and implement legal action with the assistance of outside counsel.

Work with borrowers to negotiate repayment plans and workout agreements.

Monitor industry and economic trends to anticipate potential risks to the loan portfolio.

Coordinate with credit, finance, and compliance teams to implement effective asset recovery strategies.

Manages foreclosures, negotiates deed-in-lieu, short sales, asset seizures and liquidations, restructures, modifications and deferments for residential, consumer, and commercial loans. Ensure proper documentation for these transactions per regulations, internal policy and procedures.

Ability to analyze cash flows, financial statements, and collateral to determine the most effective strategy to maximize collection amounts and timeliness.

Submission of claims to FAME, SBA, and other Government agencies.

Responds to all customer inquiries promptly and courteously.

Ensures that all customer complaints, requests, and problems are handled in an efficient and timely manner.

Responsible for the management of the Banks Watch List.

Writes and enhances policies and procedures.

Maintains ongoing knowledge of industry, regulatory (state and federal) loss mitigation requirements, loan products, collection and lending regulations, and trains other loan officers and bank staff as required. Keeps Management abreast of all critical issues

Responsible for hiring, training, performance evaluations and career development for the Special Assets department.

Oversee and complete projects as assigned.

Comply with all company policies and procedures, applicable laws and regulations.

Perform other related duties as assigned.

This Job Description for Special Assets Manager describes the essential functions and qualifications of the job described. It is not an exhaustive statement of all the duties, responsibilities, or qualifications of the job. This document is not intended to exclude modifications consistent with providing reasonable accommodations for a disability. This is not a contract.

Our generous benefits are listed on our website: Partners.bank/about/careers/

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Full Time