Special Assets Officer (SAG)

Description

JOB CLASSIFICATION

Full / Part-time: Full-time

Hours Per Week: 40 hours

Location: 1801 S 2nd St, McAllen, TX 78503

JOB SUMMARY

The Special Assets Officer is responsible for a portfolio largely consisting of commercial problem loans, including SBA guaranteed loans, and occasionally mortgage loans. They are responsible for duties which include loan workouts, bankruptcies, foreclosures, litigation, and settlements. The Special Assets Officer is expected to contribute to the department’s success in minimizing losses and maximizing recoveries in the best interest of the bank.

ESSENTIAL DUTIES

The duties listed below may not include all responsibilities that the person in this role may be asked to perform and may be required to perform other related duties as assigned.

1. Onboarding of loans transferred to SAG in a timely manner, to include review of initial underwriting, loan documents, loan review reports, collateral exceptions, communications, etc. and a debrief of the servicing officer.
2. Identifies any urgent matters or events regarding a loan which requires immediate action and timely engagement of the SAG Director.
3. Develops rehab or exit strategic plans and action steps for recommendation to the Special Assets Director, Special Assets Committee (SAC), CCO or DLC as necessary for loan workouts, restructures, settlements, bankruptcies, or other strategies.
4. Adheres to the Bank’s Credit Policy, regulatory compliance, state regulations and the Special Assets processes and procedures.
5. Is cognizant of the lending authority granted by the Special Assets Committee, Director’s Loan Committee, and Board of Directors.
6. Continuously monitors problem loans for past due status, maturity dates, credit and collateral exceptions, risk rating, impairment, specific reserves and charge-offs. Any adverse events are to be brought to the attention of the Special Assets Director.
7. Attend SAG department and Special Assets Committee meetings and attend DLC meetings when required.
8. Provides support, direction, and mentoring to junior personnel in SAG as needed.
9. Ensures that all duties are performed in accordance with the Fair Debt Collection Practices Act.
10. Other duties as assigned.

Requirements

QUALIFICATIONS

These specifications are general guidelines based on the minimum experience normally considered essential to the satisfactory performance of this position. The requirements listed below are representative of the knowledge, skill and/or ability required to perform the position in a satisfactory manner. Individual abilities may result in some deviation from these guidelines.

• Bachelor’s degree (BA) or equivalent from a four-year college or university; Finance or Accounting preferred. 
• 3+ years of prior Special Assets work experience to include loan workouts of various types of commercial loans, bankruptcies, foreclosures, and litigation at a community or regional bank.
• Ability to work independently, demonstrating a strong work ethic and commitment to the success of a team. 
• Excellent analytical, time management, organizational and problem-solving skills with the ability to multi-task, prioritize and manage tasks in a deadline-driven environment.
• Excellent verbal, written, presentation and interpersonal communication skills.
• Must be able to carry out instructions and instruct others.
• Flexibility and willingness to work with complex problems involving multiple facets and variables in non-standardized situations while meeting multiple types of deadlines. 
• Bilingual— English/Spanish a plus.
• Must be able to travel occasionally.  

EOE/M/F/D/V  

BANK SECRECY ACT (BSA)

All employees of Vantage Bank Texas, herein referenced to as the “Bank”, must comply with the terms of the BSA Policy upon acceptance of this position. The primary responsibility for enforcement of this policy and its operating procedures rests with the BSA/AML/OFAC Officer. However, it is the responsibility of each employee to take the required BSA training modules and become familiar with and adhere to the Bank Secrecy Act, Anti Money Laundering and Office of Foreign Asset Control Policy.