Senior Special Assets Officer
Company: Disability Solutions
Location: Phoenix
Posted on: September 29, 2024
Job Description:
Job Title:Senior Special Assets OfficerLocation:CityScapeWhat
you'll do:The Special Assets Officer Senior recommends and manages
internal and external action plans to resolve adversely graded
loans, minimize bank loss and maximize recovery and return to
performing status. This requires direct meetings and negotiations
with the Borrower and related parties, as well as other 3rd party
professionals and vendors. Additionally, the Senior SAG Officer
will coordinate across departments within the Bank.What we are
looking for:
- Prepares, organizes, and maintains working files on assigned
assets, requiring knowledge of all loan and real estate
documentation. Communicates with borrowers to identify reasons for
problem and negotiates acceptable terms and conditions for
reinstatement or curing default.
- Calculates amounts owed on loans; prepares/reviews
reinstatement and payoff statements, default notices, bankruptcy
Proofs of Claim. Performs loan and borrower research on loan
servicing systems. Prepares loan assumption, forbearance, and loan
modification documents. Orders and tracks all necessary third-party
reports such as: appraisals, , environmental inspections, property
profiles, title reports, invoices, etc.
- Acts as the Bank's Loan Recovery Officer. Initiates Trustee and
Attorney engagement packages for foreclosure, receivership,
bankruptcy, or other legal actions. Coordinates collection efforts
on adversely graded credits with other institutions such as banks,
title companies, and the Small Business Administration while
maintaining the Banks best interest.
- Works with assigned accounts to improve the Bank's position to
avoid charge offs. Works with charged off credits for further
collection possibilities.Qualifications:
- Bachelor's Degree in accounting, finance, economics, business
administration or other directly related field is required;
Master's degree in finance, business administration, or similar is
preferred.
- 8 or more years of directly related commercial lending
experience, with increasing responsibility for credit analysis and
underwriting. Minimum of two (2) years of problem loan resolution
(consumer and commercial), loan servicing, or related industry
experience is preferred.
- Advanced experience, knowledge and training in financial
statement and tax return analysis typically resulting from a
combination of education in accounting, financial and/or credit
analysis or related areas. Advanced experience, knowledge and
training in all lending activities and terminology. Advanced
knowledge of commercial, construction, real estate and consumer
loan processing.
- Good working knowledge of proper assignment of loan grades for
adversely graded credits, working knowledge of identifying impaired
loans, choice of methodologies for impairment analysis,
identification of accrual status and troubled debt
restructures.
- Advanced understanding of the Fair Debt Collections Practices
Act, bankruptcy law, debtor/creditor law, and the legal aspects of
lending.Compensation: Salary range for new hires is generally
$152,000.00 - $191,236.00 for Nevada. Salary range for new hires is
generally $161,452.00 - $201,354.00 for Denver, CO. Salary amount
is determined by specific job location. In addition, the role may
be eligible for annual bonus/incentives earned and restricted
stock.Benefits you'll love:We offer all the important things you'd
want - like competitive salaries, an ownership stake in the
company, medical and dental insurance, time off, a great 401k
matching program, tuition assistance program, an employee volunteer
program, and a wellness program. In addition, you'll have the
opportunity to bolster your business knowledge, learning the ins
and outs of how successful companies operate and manage their
finances, giving you invaluable hands-on experience to help grow
your career!About the company:Western Alliance Bank is a wholly
owned subsidiary of Western Alliance Bancorporation. Alliance Bank
of Arizona, Alliance Association Bank, Bank of Nevada, Bridge Bank,
First Independent Bank, and Torrey Pines Bank are divisions of
Western Alliance Bank; Member FDIC. AmeriHome Mortgage is a Western
Alliance Bank company.Western Alliance Bancorporation is committed
to equal employment and will consider all qualified applicants
without regard to race, sex, color, religion, age, nation origin,
marital status, disability, protected veteran status, sexual
orientation, gender identity or genetic information. Western
Alliance Bancorporation is committed to working with and providing
reasonable accommodations for individuals with disabilities. If you
are an individual with a disability and require a reasonable
accommodation to complete any part of the application process
and/or need an alternative method of applying, please email
HR@westernalliancebank.com or call 602-386-2488. When contacting
us, please provide your contact information and state the nature of
your accessibility issue. We will only respond to inquiries
concerning requests that involve a reasonable accommodation in the
application process.-- Western Alliance Bancorporation
Keywords: Disability Solutions, Phoenix , Senior Special Assets Officer, Accounting, Auditing , Phoenix, Arizona
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