The Senior Special Assets Portfolio Manager is responsible for the restructure of larger and/or more complex troubled borrower relationships and/or adversely graded loans within the Bank’s loan portfolio of diverse size and complexity in compliance with all applicable state and federal laws, rules and regulations and Bank lending policies and procedures. Works with Portfolio Managers, Directors and Credit Administration to ensure the Bank’s position is properly secured related to collateral, equity, and other assets pledged by the borrower; ensures the preservation of loan principal and collects interest whenever possible; takes appropriate measures to mitigate the risk of loan Charge-off.
Attends training and maintains/demonstrates knowledge of policies and procedures to ensure compliance with the laws and regulations governing financial institutions, including the Bank Secrecy Act (BSA) or other Anti-Money Laundering (AML) legislation, the Office of Foreign Assets Control (OFAC), Consumer Privacy, Information Security, Bank Protection Act, Regulations CC, E, D, DD and others
RESPONSIBILITIES
- Administer a portfolio of larger and/or more complex performing and non-performing loans.
- Perform daily collection calls on delinquent loans and / or lines of credit, track conversations, follow up with written correspondence, and monitor results.
- Perform Skip Tracing functions, when required, to locate borrower and collateral.
- Negotiate, recommend and discuss workout and or liquidation strategies to minimize loss to the Bank and to maximize recovery and the Bank’s position.
- Assess problem loan situations, developing an appropriate strategy and action plan, as well as implementing it in order to resolve the problem loan and reduce the bank’s risk.
- Provide guidance on loans still housed in regular units but requiring Special Assets oversight
- Recommend liquidation strategies for OREO assets
- Collect updated borrower financial information in accordance with periodic reporting requirements and complete scheduled loan reviews.
- Grade loans based on periodic review of financial or other information or data that may prompt a risk grade change.
- Assess and analyze problems and causes of problems on loans at time of assignment through making timely business connections, interviewing obligors, reviewing loan files.
- Execute approved strategy in a timely manner with assessment of success and reformulation of revised strategy proactively with updated approvals obtained as needed during the workout process.
- Work with outside counsel, trustees, foreclosure personnel, and other internal or outside professionals, as required.
- Collect and analyze relevant information for loan workout, collateral liquidation, and legal actions, note sales.
- Analyze bank’s collateral position relative to problem loans and ensure accurate internal bank reporting
- Review, monitor and strategize for bankruptcies and other legal proceedings involving loans in Special Assets, as assigned.
- Work with internal and external customers on a variety of issues (payment posting, grade changes, billing issues and, payoffs).
- Identify, report to appropriate channels and correct any significant document or other discrepancies pertaining to loan and collateral.
- Respond promptly to customer inquiries.
- Prepare Problem Loan Reports, CAMS, and other reports as required for management’s approval for proposed action plans, (i.e. forbearances, modification, cure covenant violations).
- Periodically and accurately report to management the status of all assigned problem loans.
QUALIFICATIONS:
- Minimum 7-10 years experience in structuring and recommending or approving a variety of loans, troubleshooting and turning around troubled loan relationships, negotiating successful resolutions of complex problem loans.
- Minimum 7-10 years experience in handling troubled loans of all kinds, including owner-occupied and investor real estate, C&I, ABL, SBA, small business and consumer. Experience to include workouts and restructures, litigation including collection litigation, receiverships, bankruptcy, and judicial and non-judicial real estate foreclosures. Experience in SBA workouts including a thorough understanding of SBA Standard Operating Procedures, completion of 10-tab, file wrap-up, preparing a Litigation Budget, and submitting Offer in Compromise is preferred.
- Minimum 7-10 years experience in negotiating and enforcing loan documentation, appropriately managing a lending relationship whether it is a direct loan, participation or agented loan.
- Minimum 7-10 years experience in assessing problem loan situations, developing an appropriate strategy and action plan, as well as implementing it in order to resolve the problem loan and reduce the bank’s risk.
- Minimum 7-10 years of portfolio management experience including spreading and analyzing personal and company financial statements and other documentation relative to monitoring a portfolio of loans.
- Minimum 7-10 years of commercial/consumer credit experience
- Required experience with a loan accounting system.
A reasonable, good faith estimate of the minimum and maximum base salary or pay for this position is $131,221.20 to $196,831.80. Actual compensation will vary based on various factors including but not limited to location, experience, and performance. A discretionary bonus and/or business line incentive may be provided, in addition to a medical and other benefits, dependent on the position. For more information regarding our benefits, please visit https://www.ppbi.com/careers.html
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Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities
The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor’s legal duty to furnish information. 41 CFR 60-1.35(c)