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Special Assets Officer
TriCo Bancshares
Chico, CA, United States
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Job Details
Description
Position Title:Special Assets Officer
Department:Special Assets
Grade: 15, 16, 17
Position Summary: Responsible for the relationship management, collection and restructuring of the Bank’s problem loans. Negotiates sale or liquidation of the assets securing these loans when necessary. Approves transactions within delegated authority. Interacts with customers, other bank departments, the Bank’s Chief Credit Officer and third parties to manage and report the risks of assigned loans.
Major Responsibilities:
• Analyzes all risks (financial, collateral, structural and legal) of the bank’s higher risk loans to structure a workout solution that maximizes collection from these troubled borrowers in the most expeditious manner possible. Makes recommendations or approves under delegated authorities to retain, manage the borrower out of the Bank or liquidate the collateral (voluntarily by borrower or through foreclosure/repossession).
• Negotiates with borrower to structure the workout to provide the best possible result to the Bank; bringing in outside consultants/specialists/attorneys and other bank departments as needed to assist with problem solving or the structure of a transaction
• Exercises sound credit and risk judgment in approving transactions/restructures. Recommends approval when the transaction/restructure size exceeds authority limits. All transactions are structured/performed in adherence to laws regulations and, whenever possible, to other Bank policies and guidelines.
• Monitors the borrower’s workout plan and account activities to insure timely repayment and to maximize collection; addressing problems as they occur to avoid unnecessary delays or future collection issues.
• Evaluates collateral, loan documentation, and financial information to determine borrower’s ability to repay and deficiencies in documentation or collateral. Develops repayment, collateral and documentation plan accordingly.
• May represent the bank in court on litigations and bankruptcy cases.
• Handles all activities necessary to foreclose on real property held as collateral.
• Directs the liquidation of non-real property assets.
• Analyzes and determines impact of bankruptcy filings; ensures protection of Bank’s position as a creditor.
• Assesses and reports grading, nonaccrual and TDR issues as well as provides advice and counsel to lending units on the same and in the handling of troubled loans.
Other Responsibilities:
• Maintains a current understanding of Bank underwriting guidelines, procedures, policies and compliance issues. Maintains a knowledge of regulatory requirements for documentation and regulations relating to commercial lending as well as maintains a working knowledge of Consumer rules and regulations.
• Maintains a current understanding of and complies with Reg B – Fair Lending, Community Reinvestment Act, HMDA, Bank Secrecy Act, Suspicious Activity Reporting, CIP, Gramm-Leach Bliley Act – information privacy, and OFAC regulations.
• Accurately reports and adjusts risk ratings (grades), non-accrual or accrual status and inclusion or removal of loans from the bank’s troubled debt restructure list on a timely basis.
• Controls legal and other expenses associated with assets under management.
• Performs additional duties and project as assigned.
Education, Experience, And Other Skills Required:
• High school diploma or GED required.
• Undergraduate degree in Finance, Business Administration or Accounting, or related lending or workout experience preferred.
• Understanding of secured and unsecured lending practices, documentation and legal requirements.
• Analytical and accounting skills to include the ability to analyze personal and business financial statements of many industries.
• Ability to understand and analyze real estate and personal property appraisals, especially difference in valuation methodologies that derive final values.
• Good written, verbal and interpersonal skills.
• Willingness and ability to negotiate with troubled borrowers.
• Ability to utilize personal computers and Windows driven programs.
• Good understanding of Bank products and services.
• Self-starter, good time management skills.
Position Level Distinction:
• Special Assets Officer I – This person would typically meet the basic requirements of the job but needs supervision and guidance of a Special Assets Team Lead or the Department Manager. Would handle a simple to moderately complex portfolio of loans. Three years of experience in Special Assets, Commercial Lending or comparable positions.
• Special Asset Officer II – Above plus the following: Substantial/proven experience in a small business/commercial lending or workout environment. Must have substantial experience in small business/commercial lending and credit analysis. Must have a thorough understanding of commercial financial statements and an ability to communicate this understanding in a clear and concise manner to SAD Team Leaders, the Department Manager or the Banks’ Chief Credit Officer. Must be able to analyze financial information, prepare cash flow and ratio analysis. Must have a good understanding of appraisal concepts, loan documentation and legal concepts pertaining to loan workouts. Must have experience in workout recommendations and provide a concise loan write up. Must be able to serve as a technical consultant to branches, relationship managers, and Commercial Credit Administration personnel relating to grading, TDR and loan structuring to avoid future issues and criticism from internal or external examiners or auditors. Provides guidance to the Special Asset Officer I when appropriate. May need some guidance under the supervision of a Senior Special Assets Officer or the Department Manager but generally works independently. Handles a moderately complex set of borrowers and loans. Recommended strategies are well thought out and supported by facts. Three -five years of experience in Special Assets, Commercial Lending or comparable positions preferred
• Senior Special Assets Officer – Above plus following: Demonstrated ability to interpret and underwrite the most complex commercial credits in the Bank with minimal guidance or oversight. Subject matter expert across a broad range of credit topics including financial statements and cash flow analysis, legal concepts pertaining to workouts, collateral analysis. Track record of appropriately utilizing credit approval authority to make sound workout recommendations on complex commercial credits in line with the Bank’s credit culture, policies and procedures. Good knowledge of Bank rules, regulations and accounting (especially those factors that impact the Bank’s income statement and balance sheet such as grades, accrual/nonaccrual, TDR and impairment). Must have the ability to train, mentor and supervise junior workout personnel. Expert user of Bank systems, software, and third party vendor platforms. Possess leadership abilities in a team environment and provide project leadership. Assists the Department Manager in identifying training needs for staff within the department and generating ideas to improve department efficiencies. Ability to supervise in manager’s absence. More than five years of experience in Special Assets, Commercial Lending or comparable positions preferred
• Special Assets Team Leader – Above plus following: Manages one or more Special Assets Officer I or II.
Company Profile
Established in 1975, Tri Counties Bank is a wholly-owned subsidiary of TriCo Bancshares (NASDAQ:TCBK) headquartered in Chico, California, providing a unique brand of customer Service with Solutionsavailable in traditional stand-alone and in-store bank branches in communities throughout Northern and Central California.
The Bank provides an extensive and competitive breadth of consumer, small business and commercial banking financial services, along with convenient around-the-clock ATM, online and mobile banking access.
Tri Counties Bank has remained strong and profitable through a top-down commitment to its core values, sound business principles and responsible lending practices.
Our success is also based on our involvement in the communities we serve. The personal touch comes naturally to Tri Counties Bankers. You may recognize us at business, school and non-profit events, baseball games and local eateries, skiing in the mountains, boating on the lakes, and fishing the local streams.
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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.