Asset Resolution Officer at First Bank

Wilmington, North Carolina, United States -

Full Time

Start Date

Immediate

Expiry Date

22 May, 26

Salary

0.0

Posted On

21 Feb, 26

Experience

5 year(s) or above

Remote Job

Yes

Telecommute

Yes

Sponsor Visa

Skills

Loan Management, Negotiation, Risk Grading, Charge-Off Recovery, Litigation Management, Bankruptcy Management, Loan Operations Interaction, Compliance Adherence, Time Management, Interpersonal Skills, Written Communication, Verbal Communication, Problem Solving, Adaptability, Detail Orientation, Judgment

Industry

Banking

Description

SUMMARY: The position of Asset Resolution Officer (ARO) is responsible for assisting in the identification, management and disposition of problem credits in the loan portfolio including direct responsibility for assigned accounts. The ARO is responsible for maximizing the Bank’s return and minimizing losses on certain criticized relationships. This is accomplished through loan level management of these assets. ESSENTIAL FUNCTIONS: * Reviews and understands loan and collateral documents pertaining to loans in the portfolio. * Negotiates loan documentation, collateral documentation, or any other deficiencies directly with borrowers. * Manages assigned problem loans to include customer negotiations and provides resolution strategy recommendations to ARG Administration. * Recommends risk grading and accrual status changes as necessary in consultation with ARG Administration. * Reviews and recommends charge-offs, partial charge-offs, and individual assessments for the non-accrual loans in the portfolio. * Works with internal and external Bank Counsel to effectively manage accounts in litigation and bankruptcy. * Interacts with Loan Operations to insure renewals, modifications, and forbearance agreements are booked correctly as well as transitioning loans between loan systems. * Deals professionally and effectively with Bank examiners. * Is flexible and adaptable to a dynamic environment to include travel assignments. * May perform supervisory duties of department staff. * Manages the recovery of charge-offs and write-downs. * Assists in the preparation of monthly reports that reflect problem asset activity. * May assist management with note and portfolio sale activities. * Serves effectively when needed as bank official in depositions and courtroom settings. * Completes annual compliance courses. * Adheres specifically to all corporate policies and procedures. Also adheres to Federal and State regulations and laws; including, the Bank Secrecy Act and the Anti-Money Laundering Act. * Adheres to all levels of our Service Excellence standards. * Performs other duties as required. GENERAL QUALIFICATIONS: * Bachelor’s degree or the equivalent combination of education and experience. Five years of lending experience or comparable work related experience. Educational experience, through in-house training sessions, formal school or financial industry related curriculum, should be business or financial industry related. * Intermediate knowledge of Bank operations, products and services; related state and federal laws and regulations, and other Bank operational policies and procedures. * Excellent organizational and time management skills - ability to work with minimal supervision. * Intermediate skills in computer terminal and personal computer operation; mainframe computer system; word processing, spreadsheet and specialty software programs. * Strong verbal and written communication skills with effective interpersonal and relationship management skills to engage individuals at all levels in the organization. * Assertive, results driven, self-motivated with ability to effectively plan and manage multiple projects. * Familiarity with loan systems as well as loan documentation. * Working knowledge of foreclosures, litigation and bankruptcy process. * Commercial lending experience preferred. Knowledge & Experience: These specifications are general guidelines based on the minimum experience normally considered essential to the satisfactory performance of this position. Individual abilities may result in some deviation from these guidelines. Physical Demands/Work Environment: Vision, hearing, speech, dexterity, visual concentration. A valid driver’s license is required. Must have the ability to stand, walk, sit and use hands and fingers. Must have the ability to work the hours and days required to complete the essential functions of the position, as scheduled. The environment is a professional office with standard office equipment. Cognitive Requirements: Learning, thinking, concentration, ability to exercise self-control, ability to work in a customer relations’ environment. Must be able to pay close attention to detail and be able to work as a member of a team. Must have the ability to interact effectively with co-workers and customers, and exercise self-control and diplomacy in customer and employee relations’ situations. Must have the ability to exercise discretion as well as appropriate judgments when necessary. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Responsibilities

The Asset Resolution Officer assists in identifying, managing, and disposing of problem credits within the loan portfolio, taking direct responsibility for assigned accounts to maximize returns and minimize losses. This involves loan-level management, negotiating with borrowers, recommending risk status changes, and working with counsel on litigation and bankruptcy cases.