Special Assets Officer II (Reston)
Company: Union First Market Bank
Posted on: June 5, 2021
This position principally provides support in resolving
"problem" commercial loans. Within designated company and
department policies and authority levels, develops and implements
workout strategies on an assigned portfolio of complex and larger
exposure problem loans. The Special Assets Officer (SAO) is
responsible for securing the repayment or the restructure of
troubled borrower relationships of diverse size and complexity in
compliance with all applicable state and federal laws, rules and
regulations and Bank lending policies and procedures. In addition,
the incumbent provides counseling and other advice concerning
problem loans not assigned to the SAO which are being managed by
Commercial or Business Banking Relationship Managers. From time to
time the SAO may be required to manage the disposition of OREO
properties. The incumbent works assigned problem credits by
assessing the financial position of the obligors and collateral
values; reviewing, and where applicable, strengthening
documentation; determining the appropriate strategic direction and
timelines and executing the strategy to achieve the desired
results. All actions are taken while adhering to personal lending
authority and file documentation guidelines. The SAO develops
contacts with appropriate external resources to assist in managing
the Bank's level of problem assets down to an acceptable level.
Although the focus for the position is on commercial loan
resolution, the successful candidate should be familiar with
consumer lending and collection guidelines and compliance
- Manages a portfolio of criticized and classified loans as
assigned by the Manager of Special Assets to minimize delinquency
- Meets with problem loan customers to evaluate the severity of
the problem and independently develops recommendations to improve
the likelihood of repayment and minimize risk of loss to the
- Negotiates with debtors or their representatives to secure
repayment agreements and monitors adherence to the terms of
approved repayment agreements.
- Obtains, manages and disposes of repossessed assets in an
efficient and timely manner.
- Ensures the risk rating, accrual status and loan loss
provisions of the assigned portfolio accurately reflect the risk of
those assets. Ensures that charge offs are recommended on a timely
- Manage bankruptcy and foreclosure processes.
- Provides guidance regarding the early identification,
evaluation of and potential strategies for deteriorating loan
situations to Collections and lending staff on smaller, non-complex
business purpose credits not formally assigned to Special Assets in
order to minimize losses and maximize recoveries.
- Communicates and attends meetings with senior level Bank
Management and/or Relationship Managers as required.
- Provides quality and timely reporting, or responses to
inquiries, as required.
- Adheres to all applicable laws and regulations and maintains
compliance with Atlantic Union Bankshares' Policies and
- Maintains current knowledge of all laws, regulations, and
rulings concerning insolvency, bankruptcy, etc.
- Completes all mandatory training within a timely basis, as
Reports to the Manager of Special Assets.
Education & Experience
- Bachelor's degree in business, finance or related field.
- Minimum of ten years' experience in banking with at least five
years in commercial banking and/or a credit administration
Knowledge & Skills
- Advanced knowledge of commercial lending, loan servicing and
- Advanced knowledge of loan collections and workout, loan
processing/documentation and credit analysis.
- Excellent problem-solving and decision-making skills.
- Strong interpersonal and verbal and written communication
- Excellent customer service skills and organization.
- Strong interpersonal and listening skills.
- Decisiveness, results oriented and possesses a willingness to
be firm when necessary.
- Ability to work independently as well as within a team
We are proud to be an EEO/AA employer,
Minority/Female/Disability/Veteran. We maintain a drug-free
Keywords: Union First Market Bank, Reston , Special Assets Officer II (Reston), Other , Reston, Virginia
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