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Special Assets Manager
BankUnited
Miami Lakes, FL, United States
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Job Description
SUMMARY: This position handles a portfolio of non-performing loans and the candidates must be able to interact with borrowers, bank personnel, attorneys and other professionals. Responsible for managing a portfolio of small to adversely graded loans. In general, the Workout and Recovery function seeks to minimize the loss exposure in collateral, in adversely-graded commercial lending relationships, including participation and agented loans, by understanding the collateral, documentation and industry trend and obtaining improvements in the collateral package, correcting or improving documentation or structural weaknesses and provide strategic direction designed to maximize the collection of principal and interest in a timely manner. This position is responsible for reviewing and understanding strategies to exit or upgrade loan relationships, including bankruptcy, capital structures, collateral valuation and liquidation strategies and may provide overview and direction on critical issues or strategies to junior special asset administrators. Sound credit administrative skills and lending judgment are necessary.
ESSENTIAL DUTIES AND RESPONSIBILITIES include the following. Other duties and special projects may be assigned. Levels of Authority and Decision Making are indicated as follows:
• Manages a portfolio of performing and non-performing and criticized loans.
• Restructures loans for commercial clients.
• Works with commercial borrowers to better secure collateral and/or assets of the borrower.
• Familiar with a variety of the field's collection practices and procedures.
• Relies on experience and judgment to plan and accomplish goals.
• Performs a wide variety of tasks.
• A wide degree of creativity and latitude is expected.
• Must be able to deal with difficult situations.
• Must be able to make a determination when an account should be referred to an attorney and must be able to oversee the attorney's case management.
• Evaluate collateral, loan documentation, and financial information to determine borrower's case management. Develop payment strategy.
• Conduct negotiations with borrowers and borrower's counsel and make necessary judgments based on conditions presented to protect the bank's interest and achieve maximum recovery.
• Represent the bank on court litigation and bankruptcy cases.
• Handle all activities to ensure effective management and maintenance of properties including compliance with all environmental and regulatory requirements.
• Direct the liquidation on non-real property assets.
• Analyze and determine impact of bankruptcy filings; ensure protection as a creditor.
• Provide advice and counsel to lending units in handling troubled loans.
• Interact with internal and external legal counsel to develop collection strategy.
• Control legal and other expenses associated with assets under management.
• Special Asset Manager I manages a portfolio of small sized loans
• Special Asset Manager II manages a portfolio of medium sized loans
• Special Asset Manager III manages a portfolio of medium-large loans
EDUCATION and/or EXPERIENCE:
Special Asset Manager I may require a bachelor's degree in business administration or a related field or 2-4 years of experience in small business banking/lending, commercial lending, credit or a related area.
Special Asset Manager II may require a bachelor's degree in business administration or a related field or 4-6 years of experience in small business banking/lending, commercial lending, credit or a related area.
Special Asset Manager III may require a bachelor's degree in business administration or a related field or 6-8 years of experience in commercial lending or credit related area.