Special Assets Manager

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The Position

Job Title

Special Assets Manager

Job Description

SUMMARY

This position is responsible for managing a team of collectors with a focus on the mitigation of losses for First United Bank through collection of past due and charged off loans and demand deposit accounts.  Oversees the handling of loans assigned to the Special Assets (Risk) portfolio, bankruptcies, and manages the processing of the booking and sale of OREO and Repo assets bank wide. Provide a resource to the Community Banks to help assist with collection efforts at the Community Bank level.

MAJOR DUTIES AND RESPONSIBILITIES (ESSENTIAL FUNCTIONS)  

• Manages the daily duties of the Collections Team to ensure they are staying on task and completing assigned duties with a high level of success.
• Monitor bank wide reporting for past dues and collection accounts. Effectively correspond with the Community Banks to maintain a consistent approach that is in line with acceptable collection efforts and policy.
• Provide training and resources to the Community Banks to assist them with their collection efforts.
• Properly train the Special Assets Collection Team to be a resource to the Community Banks as they reach out to look for assistance with their collection efforts.
• Provides supervision for the following job functions:
  • The collection process is structured appropriately and managed to ensure that loans are collected in an effective and efficient manner to reduce the number of loans that move to foreclosure or repossession.
  • Preparation of collection letters and other correspondence.
  • Processing of all invoices for “Collection and Repo” and “OREO” expenses.
  • Collection of payments.
  • The transfer of repossessed assets or OREO to the appropriate accounts.  This will include the review of the valuation of the property, the review of the Special Asset Form and the charge off and/or transfer to OREO/ Repo Control.
  • The disposition of repossessed assets and OREO.  More specifically the review of the sale, the recording of the sale including the gain or loss on sale.
  • Special Assets interaction with attorneys as they handle foreclosures, money judgments, bankruptcies, and replevin actions.  More specifically the preparation of the engagement letter, the review and sending of loan documents, the communication of the desired action to be taken and follow up with attorney as the case moves through the legal process.
• Manages a portfolio of Classified Loans.
• Monitor and manage the collection of judgements and charge