Description

Skowhegan Savings Bank seeks an individual to join our Credit Administration team as VP, Credit & Special Assets Manager. This position would initially be located in Skowhegan through training and have opportunity for hybrid thereafter.

Position Summary:

The Credit and Special Assets Manager directs the Commercial Credit and Special Assets functions of the bank. This position is responsible to facilitate and administer commercial credit analyses, portfolio administration, collection activities, and supports the Bank’s lending functions and goals with prudent administration of loan policy. Reporting to the EVP Chief Risk Officer, the role works independently through complex credit problems, responsible for the presentation of credit analysis and reports to various committees and make recommendations regarding credit extensions. Furthermore, the role will manage the workout of adversely graded loans through the restructuring of debt, negotiation of settlement agreements, pursuit of appropriate legal action and/or the liquidation of collateral.

Duties and Responsibilities:

Commercial Credit function:

• Proactively monitor and manage credit risk to identify and address potential credit issues.
• Direct and collaborate with team to initiate credit analyses, modifications and risk.
• Conduct thorough review and timely credit analyses on all new commercial/Letter of Credit (LOC) applications and renewals with varying complexities, including spreading, analyzing, and interpreting financial information, for accuracy and to assess creditworthiness for new and existing borrowers.
• Manage, review and guide employee’s credit review and analysis.
• Prepares and presents complex credit related analyses and report presentations to loan officers, Loan Committees and Board of Directors for use in making of lending decisions.
• Independently evaluate appraisals and real estate evaluations on existing and prospective customers and portfolios.
• Investigate discrepancies on variances on customers’ financial statements and tax returns; this may entail obtaining information from other sources such as client, CPA, financial advisors, industry data, or other public records/data.
• Manage production of reporting which provides a clear picture of portfolio(s) risk profiles and performance. including commercial portfolio concentration reports and risk summaries.
• Guide and ensure annual portfolio maintenance is conducted including requesting and reviewing of financial statements, and underwriting file updates.
• Facilitate and assure consistent loan underwriting standards in accordance with Bank policy and regulatory requirements.
• Evaluate and lead the appropriate application of loan policy development, recommend changes, and implement any approved changes.
• Evaluate, guide and recommend business strategy on loan portfolio concentrations.
• Field questions from lenders and credit staff.
• Ensure timely and accurate management of Commercial Loan Review, audit and examination report analysis and response.
• Assess industry trends, economic conditions, and regulatory requirements to inform credit decisions.
• Command thorough knowledge and familiarity with the Bank’s Loan Underwriting and Administration guidelines and Loan Policy.

Special Assets/Collection function:

• Manage workout of adversely graded loans through the restructuring of debt, negotiation of settlement agreements, pursuit of appropriate legal action and/or the liquidation of collateral in coordination with the Bank’s attorneys.
• Collaborate in credit structuring – work to modify and/or enter into forbearance agreements that serve the best interest of the Bank.
• Secures collateral, equity, or assets of the borrower to preserve the loan principal, prevents the loan from being placed on non-accrual and prevents or limits losses.
• Participate in the Loan Committee meetings, providing opinion and advice on watch-rated credits, overall portfolio monitoring, and reserve allocations.
• Asset Management: Act as backup to Special Assets Manager to assist with managing residential and consumer assets and collection activities.
• Reviews ALLL analysis on impaired loans and prepares quarterly ALLL reporting.
• Serves as the bank's liaison with the collection software vendor.

Team Leadership and Management

• Lead, manage, and coach a team of direct reports.
• Manage workflow with the assigned team and communicate position expectations to direct reports.
• Assist and participate in recruiting and hiring of credit and/or special asset professionals, including the interview, assessment, and onboarding process.
• Responsible for the annual performance appraisals and goal setting, holding team accountable to achieve set targets and expectations.
• Identify resources for employee development and training to enhance the performance of direct reports and enable them to grow within their position.

Requirements

Education and Experience:

• Bachelor’s degree or equivalent work experience in business administration, finance, accounting and/or economics.
• 8 years commercial/business loans, lending laws, credit analysis, lending or other directly related experience.
• 3-5 years supervisory experience, leading and managing a team.
• A combination of education and experience may meet qualifications.

Skills and Abilities:

• General accounting principles and concepts.
• Proven analytical, communication (both oral and written), and decision-making skills.
• Proven ability to spread and analyze historical, budget, and projected financials.
• Proven ability to identify borrower credit, industry, and market risks.
• Proven ability to identify and analyze sources of repayment and collateral.
• Demonstrated knowledge of preparing sensitivity analysis and financial covenant models.
• Strong understanding of standard loan documentation components.
• Strong knowledge of commercial/business lending, lending law, bankruptcy law and cash flow analysis.
• Strong analytic and critical thinking skills.
• Excellent organizational skills and attention to detail.
• Demonstrated proven and effective management skills.
• Ability to effectively manage competing priorities and meet deadlines.
• Strong desire to lead and manage people.
• Proficient computer skills including MS Office suite.

Working Conditions:

• General office environment
• Physical surroundings are generally pleasant and comfortable
• Moderate lifting (to 35 lbs.) required.
• Moderate reaching, walking, sitting, and standing required.