Special Assets Manager

at  First United Bank

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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.

EMPLOYEE SPECIFICATIONS

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Education and Work Experience

• Bachelor’s degree in business, accounting or finance.
• Candidate should possess strong leadership skills and be able to manage a team of different personalities.
• 2 years minimum experience, preferably in a financial institution or consumer loan department.
• Knowledge of consumer collections, bankruptcy, and the legal process for pursuing foreclosures, monetary judgments, garnishments, hearings on assets, and related issues.

Technical/Functional Competencies

• Proficient in Microsoft Word, Excel and PowerPoint.
• Prefer experience with Jack Henry or other financial management software.
• Candidate should enjoy a high-volume and fast-paced environment.
• Candidate should possess strong analytical skills and be attentive to detail.
• Candidate should also be courteous and friendly, but able to deal professionally with a variety of personality types.
• Strong organizational skills and the ability to multi-task are a must.
• Candidate should also be both self-motivated, and a team player.
• Good problem-solving and decision making skills.
• Demonstrates good judgment.
• Ability to communicate well with customers and vendors by all means of communication including written, verbal, and non-verbal communication.
• Willingness to accept additional responsibilities
• Dependable and adheres to time lines and schedules.
• Takes initiative in development and completion of projects.

NOTE: This job description is not intended to be all-inclusive. Employee may perform other related duties as assigned by supervisor to meet the ongoing needs of the organization.
All Locations:
Durant-Corporate
If any applicant is unable to complete an application or respond to a job opening because of a disability, please email us at
HR@firstunitedbank.com
for assistance.
First United is an Equal Opportunity Employer. To the extent required by Federal or State law, First United does not discriminate in employment opportunities or practices on the basis of race, color, religion, sex, national origin, or any other characteristic protected by law

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 charged off loans to maximize the amount recovered. This could involve the direct engagement of an attorney should the amount of potential recovery warrant this action and/or act as a resource for the Community Banks to provide direction on the process. For smaller recovery opportunities this could involve non-judicial collection actions or Small Claims.
• Review and prepare monthly reports for senior management as well as any additional reports requested.
• Oversees the preparation of the Special Assets Report for the monthly Special Assets Meeting.
• Schedule and lead collections meetings as necessary to facilitate and effective collection culture.
• Accomplishes goals set by the department.
• Provides oversight in establishing annual goals for the collection team members.
• Prepares and provides annual employee reviews to the collection team members.

ADDITIONAL DUTIES AND RESPONSIBILITIES

• Handles customer complaints and escalates issues as needed.
• Maintains cleanliness in and around workstation.
• Recommends to supervisor possible methods to improve department.
• Completes all required compliance exams on a yearly basis.
• Adherence to all First United Policies and Procedures.
• Dresses professionally.
• Other duties as assigned by supervisor.