Senior Special Assets Officer

Benefits Overview

A career at CoBank can offer you the opportunity to make a personal impact on the people and communities where we do business. When you choose a career with CoBank, you make a difference by standing for something that matters. In order to be the best, we hire the best!

Remarkable Benefits Offered by CoBank

• Careers with a purpose. Stand for something!
• Time-Off Packages, 20 days of vacation, 10 paid sick days and 11 paid holidays
• Competitive Compensation & Incentive
• Hybrid work model: flexible arrangements for most positions
• Benefits Packages, including Medical, Dental and Vision coverage, Disability, AD&D, and Life Insurance
• Robust associate training and development with CoBank University
• Tuition reimbursement for higher education up to 10K
• Outstanding 401k: up to 6% matching and additional 3% non-elective contribution
• Community Impact: United Way Angel Day, Volunteer Day and Associate Directed Contribution
• Associate Resource Groups: creating a culture of diversity and inclusion
• Recognize a fellow associate through our GEM awards

 

Job Description

Manages restructuring a segment of the company's adversely-graded loans ("Special Assets"). Works with officials of lending and borrowing institutions to better secure collateral, equity, or other assets of the borrower; and other activities designed to preserve the loan principal, gather interest as possible, and prevent the loan from being charged off.

Essential Functions

• Develops, plans, and implements practices and procedures to minimize loan charge-offs from adversely graded loans ("Special Assets").
• On the largest and most complex credits, works with officials of the lending and borrowing institutions to review and restructure credit and repayment terms, and to better secure collateral, attain an equity position, or otherwise establish recourse to other borrower assets against the possibility of charge-off.
• Coordinates with tax, legal, audit, credit/loan policy, and regulatory officials at the highest levels.
• Develops and implements strategies to recover principal from borrowers whose non-performing loans have been charged off. Works with loan recovery, legal, and other departments to maximize the recovery of such funds.
• Provides recommendations to top credit and other loan executives about structuring and reviewing credits to reduce fundamental weakness in the company's credit/loan policies.

Education

• Bachelor's Degree required

Work Experience

• 8 years of relevant experience required
• Prior Experience with complex lending, financial structuring, and credit arrangements, and of bank products required
• Prior Experience loan workout issues including bankruptcy, troubled debt restructurings, and creditors' rights required

Physical Exertion Details

Sedentary Exerting up to 10 pounds of force occasionally (Occasionally: activity or condition exists up to 1/3 of the time) and/or a negligible amount of force frequently (Frequently: activity or condition exists from 1/3 to 2/3 of the time) to lift, carry, push, pull, or otherwise move objects, including the human body. Sedentary work involves sitting most of the time, but may involve walking or standing for brief periods of time. Jobs are sedentary if walking and standing are required only occasionally and all other sedentary criteria are met.

Travel Requirement Details

Occasional Travel occurs infrequently (typically, once a month or less).

About CoBank

The typical base pay range for this role is between $119,200 - $146,640. Compensation may vary based on individual job-related knowledge, skills, expertise, and experience. This position is eligible for a discretionary annual incentive program driven by organization and individual performance.

The listed salary, other compensation and benefits information is accurate as of the date of this posting. This job will be posted for a minimum of five (5) business days or until the position is filled. CoBank reserves the right to adjust compensation for all positions and to modify or discontinue benefits programs at any time in its sole discretion, subject to applicable law.

 

CoBank is a cooperative bank serving vital industries across rural America. The bank provides loans, leases, export financing and other financial services to agribusinesses and rural power, water and communications providers in all 50 states. The bank also provides wholesale loans and other financial services to affiliated Farm Credit associations serving more than 76,000 farmers, ranchers and other rural borrowers in 23 states around the country. CoBank is a member of the Farm Credit System, a nationwide ne