In accordance with the Credit Union’s policies and procedures, a Special Assets Officer (SAO) is responsible for the servicing and managing all aspects of the problem loan portfolio, including but not limited to, pre-work out loans, downgraded loan, workout loans, TDR, loans in legal proceeding, etc. to minimize Credit Union’s loss and liability associated with the loans assigned.
Under the direction of Director of Credit Administration, the SAO is responsible for managing and resolving a portfolio of special assets through rehabilitation, exit, or liquidation, as well as oversight responsibilities for past dues, overdrafts and covenant enforcement. The SAO is responsible for developing strategies for workout credits with varying and evolving degrees of aggressiveness commensurate with the situation.
The SAO is responsible to complete the periodic analysis for problem loans assigned. Through the in-depth analysis, SAO identifies and recommends all relevant and available lending options and strategies for the problem credit assigned. The available lending strategies includes but not limited to loan restructuring, liquidation of collateral, pursuing legal action, seeking government guaranties, etc. Calculate and recommend impairment and charge off amount in accordance to GAAP, Credit Union Policy, federal regulations.
Responsible for all aspects of managing, maintaining and liquidating OREO property at a complex level for multiple property types. Assists senior management in evaluating collateral, loan documentation and financial information to determine Credit Union’s position in current economic conditions. Responsible for managing problem assets or loans in a workout capacity, providing resolutions to a diverse range of complex problems. Analyzes complex financial statements and tax returns. Responsible to minimize risk in the portfolio, including risk rating, accrual status, TDR status.
Spreads financial statements and tax returns to evaluate revenue and expense trends, financial health, and repayment capacity. Analyze and present the results in SFCU’s problem loan report, Commercial Quality Report (CQR), or any other ad-hoc any analysis required. Manage foreclosures, negotiates repayment plans, restructures and modifications. Performs collateral evaluation, verifies asset valuations, performs asset verification, investigate credit history, and evaluates personal and business assets within SFCU policy and procedure as well as applicable NCUA regulations and federal laws.
Independently and accurately completes Commercial Quality Report (CQR) or any other credit risk analysis reports encompassing trend analysis, ability to repay, collateral coverage, known and potential risks, mitigation factors, and exit strategies, if applicable. Identifies and recommends all relevant lending strategies including, but not limited, to restructuring, legal actions, or collateral foreclosure and repossession to minimize loss to Credit Union. Present lending strategy recommendations based on the analysis to management for approval.Negotiates payment arrangements to help members stay current with their loan obligations.
Minimum five (5) to seven (7) years of commercial lending and underwriting experience, including loan review and commercial and retail collections. Also requires a working knowledge of loan restructures and collections, bankruptcy and foreclosure laws, along with a general understanding of legal proceedings.
Bachelor degree, or equivalent, from a 4-year college or university in Accounting, Finance, Business Administration or similar field. Certificate in commercial lending and financial analysis a plus.