Special Assets Manager
Special Assets Manager
Location: Kennebunk, Maine
Come and work with us at Kennebunk Savings. We value your professional expertise and appreciate you as a member of the community. You can be yourself here and use your passions, knowledge, and skills to help customers and advance your career. Is it any surprise we love what we do? We think you will, too.
What does an Accounts Payable & Fixed Assets Administrator do?
Under the broad guidance of the Chief Credit Officer, this position directs and manages the Bank’s Special Assets Department. The department is responsible for managing the Bank’s troubled assets, both commercial and retail, in such a manner as to maximize the Bank’s return/minimize the Bank’s loan losses and charge-offs. Responsible for organizational, people and financial management activities.
Directs commercial and retail special assets officers and other department support staff to ensure that troubled loans are effectively managed through timely identification of issues and communications with borrowers, external parties, and other Bank departments. Responsible for all loan collection activities of the Bank.
- Monitors all accounts managed by the department to provide direction and feedback to others on restructuring efforts and any legal or servicing issues.
- Manages the watched asset portfolio to ensure administrative reviews are timely performed, and assists loan officers in managing special mention (OAEM) credits handled in the field and in transitioning credits to and from the Special Assets Department.
- Ensures that all credit files are accurate and contain up-to-date information regarding the status of the credit and communications with borrowers or others.
- Ensures all collateral is protected to minimize losses.
- Responsible for formulating an effective workout strategy based upon knowledge of the borrower and the Bank’s policies
- Leads the Department in adopting processes, systems, or technologies to enhance the productivity.
Responsible for identifying and ensuring the appropriate treatment of impaired loans, non-accrual loans, specific allocations, and loan loss recognition.
- Assists with forecasting non-accruals and charge-offs.
- Responsible for ensuring that non-accruals are appropriately coded, reported, and recognized according to policy and regulatory guidance
- Ensures credit reviews and risk ratings of the Special Asset portfolio are timely updated and accurate
- Identifies and evaluates loan renewals or modifications for troubled debt restructuring status
Oversees accurate and timely production of Special Assets reports to senior management, various committees, and Board of Directors.
- Facilitates, in a leadership capacity, committee and other meetings related to the management of troubled loans
- Presents reports and periodic updates to management and the Board of Directors
Other Duties and Responsibilities
- Promotes the Kennebunk Savings Brand by recommending our products and services, supporting our community focus & commitment to being a premier employer
- Understands, supports and adheres to applicable organizational policies/procedures and state/federal regulations
- Consistently emphasizes the importance of teamwork in the department and company at large
- Responsible for keeping abreast of company news and information
- Responsible for completing required training and policy review
- May serve on various committees
- Willingness to take on additional tasks and duties
- Not applicable
Desired Knowledge, Skills & Abilities
- Strong negotiating and collections skills with knowledge of legal collection processes available to the Bank.
- Knowledge of regulatory and legal requirements for classification of and accounting for troubled assets
- Effectively delegates
- Displays willingness to make timely decisions using sound judgment
- Displays high level of regard for trust and confidentiality
- Proficient in Microsoft Office Products
- Displays strong written and verbal communication skills
- Displays strong organization skills and the ability to multi-task to meet established deadlines
- Demonstrates a high level of accuracy and attention to detail
- Effectively uses analytical skills to solve technical, as well as, non-technical problems
- Prior knowledge of regulations within the financial services industry is preferred
- Ability to adapt to change
Desired Job Experience
- 5+ years of experience of collections, workout or commercial lending or credit experience
- 5 years of increasingly responsible experience in management capacities within a financial institution
- Experience in a professional, service focused and fast-paced environment
- High school or General Education Diploma
- Bachelor’s Degree or comparable education or related training is preferred
Working Conditions/Minimum Physical Requirements
- Physical surroundings are generally pleasant and comfortable with minimal exposure to injury or other hazards
- Able to operate a computer and other office equipment
- Lifting and moving of moderately heavy objects on occasion
- Job family: Banking
- Pay Type: Salary
- Travel Required: No
- Required Education: Some College
External and internal applicants, as well as position incumbents who become disabled as defined under the Americans with Disabilities Act, or Maine/New Hampshire Human Rights Commissions, must be able to perform the essential job functions (as listed) either unaided or with the assistance of a reasonable accommodation to be determined by management on a case-by-case basis.