Special Assets Officer
Company: Disability Solutions
Location: Phoenix
Posted on: September 29, 2024
Job Description:
Job Title:Special Assets OfficerLocation:CityScapeWhat you'll
do:The Special Assets Officer 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. Internal Bank cross-departmental coordination may be under
supervision of manager or other senior personnel.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, Broker Opinions of Value,
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.
- 5 or more years of directly related commercial lending
experience, with increasing responsibility for credit analysis and
underwriting. Minimum of one (1) year of problem loan resolution
(consumer and commercial), loan servicing, or related industry
experience is preferred.
- Intermediate 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. Intermediate experience, knowledge and
training in all lending activities and terminology. Intermediate
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.
- Intermediate understanding of the Fair Debt Collections
Practices Act, bankruptcy law, debtor/creditor law, and the legal
aspects of lendingCompensation: Salary range for new hires is
generally $133,000.00 - $158,456.00 for Las Vegas, NV. Salary range
for new hires is generally $142,000.00 - $166,982.00 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 , Special Assets Officer, Other , Phoenix, Arizona
Didn't find what you're looking for? Search again!
Loading more jobs...