Special Assets Officer

Description

Position Summary:

A Special Assets Officer manages and monitors loans and other assets that are considered higher risk or distressed, aiming to minimize losses and maximize recovery for the financial institution. They develop and implement strategies to rehabilitate loans, negotiate workout plans, and potentially liquidate assets. This role often involves close collaboration with borrowers, legal teams, and other internal stakeholders. 

Responsibilities:

• Emulate SSB&T Core Values.
• Manage a portfolio of adversely graded or distressed loans, including those classified as substandard, doubtful, or loss. 
• Identify potential losses and develop strategies to minimize them, such as negotiating loan modifications, implementing workout plans, or pursuing legal actions. 
• Develop and implement strategies to recover as much value as possible from distressed assets, including collateral liquidation. 
• Ensure all actions taken comply with relevant laws, regulations, and bank policies. 
• Prepare regular reports on the status of the portfolio, including risk assessments, recommendations for reserves, and progress on recovery efforts. 
• Effectively communicate with borrowers, legal counsel, and other parties involved in the workout process, negotiating terms and agreements.
• Assist with loan reviews
• Assist Loan Review Officer with various tasks 
• Oversee Other Real Estate Owned (OREO) properties, managing and liquidating them as needed. 
• May be involved in special projects related to asset recovery, regulatory compliance, or other areas within the Special Assets Department
• Attend assigned trainings, in person and online. 
• Be involved in the community.
• Other duties as assigned.

Requirements

• Strong understanding of lending regulations, loan documentation, and credit risk analysis.
• Excellent communication, negotiation, and problem-solving skills.
• Experience in loan workouts, restructuring, and collections.
• Proficiency in Microsoft Office Suite (Word, Excel, etc.).
• Ability to work independently and manage a portfolio of complex assets.
• Strong analytical and decision-making skills. 
• Bachelor’s Degree in Finance, Accounting, or related field preferred