Special Assets Officer

at  Idaho Central Credit Union

Overview:
The Special Assets Officer is responsible for problem commercial real estate credits, adversely rated commercial loans and credit agreements. Works with lending teams, portfolio risk analysts, legal team, and other management to supervise loan portfolio to proactively identify and manage credit risks, identify, monitor, and handle problem credits, enforce loan and credit documents, identify and negotiate workout solutions to mitigate credit risks by securing paydowns and/or additional collateral and guarantors or exiting credit, pursuing full collection in collaboration with legal team, and recommend risk rating changes, changes in accrual status, charge downs and charge offs, and retention, workout and recovery strategies.

Responsibilities:

• Work with the Commercial Risk Analyst Manger and VP of Credit Risk to monitor the condition and quality of the loan portfolio, identify areas of increased risk and provide guidance to mitigate deterioration in the asset quality of the commercial and business portfolio.
• Work with the Commercial Risk Analyst Manager to proactively identify specific credits and relationships that need attention, intervention, and management by Special Assets.
• Work with lenders to ensure a professional and clear transition of those relationships that are to be managed by Special Assets. Build relationships with borrowers and their respective agents in a timely manner to resolve problem credits and minimize losses to the Credit Union. Engage with outside Credit Union legal counsel as appropriate.
• Supervising the designated loan portfolio, which is primarily comprised of delinquent, high-exposure commercial loans or assets.
• Interpreting and enforcing loan agreements and collateral documents, including deeds of trust or mortgages, assignment of rents, participation agreements, and other similar loan agreements.
• Compile, own, and manage various reports such as the Commercial Delinquency Report and the Commercial Maturing Loan Report.
• Recommending and negotiating workouts with loan parties, including modifications or forbearance agreements, and securing or negotiating additional collateral and/or other tertiary sources of repayment to effectively mitigate bank risks.
• With the assistant of the Accounting Department recognize and recommend changes to the accrual status on specific credits consistent with Credit Union’s policies and procedures as well as generally accepted accounting principles. Test these specific loans for impairment and recognizes restructured trouble debt.
• Proactively identifying, presenting, and reporting problem loans to the Business Loan Committee, including reports related to recovery and collection efforts, risk rating changes and rationale, and other similar reports.
• Submit recommendations for approval to the Business Loan Committee for specific actions to be taken on impaired loans.
• Prepare Criticized Asset Action Plans (CAAPs) for credits under the ownership of Special Assets. Submit reports to the VP of Credit Risk, the Chief Lending Officer and the Business Loan Committee.
• Successfully be able to restructure or liquidate special assets and/or substandard commercial credits within an acceptable time period.
• Assist with implementation of changes to existing regulations and new regulations as mandated.
• Conduct research to answer regulatory-related questions asked by management and Credit Union departments as needed.
• Other duties as assigned.

Qualifications:
Bachelor’s Degree or equivalent experience. 5+ years in handling a variety of problem loan types, or related experience required. Experience working on commercial real estate and complex commercial loans is preferred. Special assets portfolio management and workout and recovery work involving commercial loans secured by commercial real estate is preferred. Ability to work with and communicate with all Credit Union personnel in the various departments. Ability to always maintain confidentiality of Credit Union and member records.
Performance Standard:
Demonstrated cooperative and positive attitude toward members and other Credit Union staff. Accurate in balancing and account research. Be able to diagnose problems. Professional in appearance, attendance, quality, and quantity of work performed. Ability to work without supervision. Must be willing to comply with the Bank Secrecy Act and USA Patriot Act as implemented by Idaho Central Credit Union.

Physical Requirements:

• Perform tasks requiring manual dexterity (processing paperwork, filing, stapling, sorting, collating, typing, counting cash, etc.).
• Sit for extended periods of time.
• Lift 20-40 pounds of applicable supplies including but not limited to copy paper, cash drawers, marketing material, etc.
• Repetitive motion using wrists, hands, and fingers.
• Reach keyboards.
• Ability to operate basic office machines (calculator, computer, telephone, copy machine, fax machine, etc.).

The above statements reflect the general details considered necessary to describe the essential functions of the job and should not be construed as a detailed description of all the work requirements that may be inherent of the job.
Must be eligible for membership at Idaho Central Credit Union to obtain employment.
Idaho Central Credit Union is an Equal Opportunity Employer. Employment decisions are made without regard to race, color, religion, national or ethnic origin, sex, age, disability, protected veteran status or other characteristics protected by law.

• Work with the Commercial Risk Analyst Manger and VP of Credit Risk to monitor the condition and quality of the loan portfolio, identify areas of increased risk and provide guidance to mitigate deterioration in the asset quality of the commercial and business portfolio.
• Work with the Commercial Risk Analyst Manager to proactively identify specific credits and relationships that need attention, intervention, and management by Special Assets.
• Work with lenders to ensure a professional and clear transition of those relationships that are to be managed by Special Assets. Build relationships with borrowers and their respective agents in a timely manner to resolve problem credits and minimize losses to the Credit Union. Engage with outside Credit Union legal counsel as appropriate.
• Supervising the designated loan portfolio, which is primarily comprised of delinquent, high-exposure commercial loans or assets.
• Interpreting and enforcing loan agreements and collateral documents, including deeds of trust or mortgages, assignment of rents, participation agreements, and other similar loan agreements.
• Compile, own, and manage various reports such as the Commercial Delinquency Report and the Commercial Maturing Loan Report.
• Recommending and negotiating workouts with loan parties, including modifications or forbearance agreements, and securing or negotiating additional collateral and/or other tertiary sources of repayment to effectively mitigate bank risks.
• With the assistant of the Accounting Department recognize and recommend changes to the accrual status on specific credits consistent with Credit Union’s policies and procedures as well as generally accepted accounting principles. Test these specific loans for impairment and recognizes restructured trouble debt.
• Proactively identifying, presenting, and reporting problem loans to the Business Loan Committee, including reports related to recovery and collection efforts, risk rating changes and rationale, and other similar reports.
• Submit recommendations for approval to the Business Loan Committee for specific actions to be taken on impaired loans.
• Prepare Criticized Asset Action Plans (CAAPs) for credits under the ownership of Special Assets. Submit reports to the VP of Credit Risk, the Chief Lending Officer and the Business Loan Committee.
• Successfully be able to restructure or liquidate special assets and/or substandard commercial credits within an acceptable time period.
• Assist with implementation of changes to existing regulations and new regulations as mandated.
• Conduct research to answer regulatory-related questions asked by management and Credit Union departments as needed.
• Other duties as assigned