What are the responsibilities and job description for the Special Assets Relationship Manager position at FIRST FIDELITY BANK?
Job Details
Description
SUMMARY
The Special Assets Relationship Manager is responsible for managing an assigned portfolio of problem commercial real estate loans and other assets. They shall analyze loans and determine the most effective strategy to secure the repayment and/or collection of the debt, negotiate with debtors or their representatives to secure repayment agreements and monitor adherence to the terms of repayment agreements.
PRIMARY DUTIES/RESPONSIBILITIES:
Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities and activities may change at any time with or without notice.
• Gains complete knowledge of business and personal financial condition of 100% of assigned Commercial clients.
• Builds knowledge of all clients and prospects by completing in-depth profiling of Commercial business owners and other principals.
• Collects and analyzes financial and related data to determine the general creditworthiness of Commercial customers.
• Develop information for and make loan presentations to appropriate loan committees when required.
• Establish and negotiate, when necessary, the terms under which credit will be extended.
• Monitor loan repayment activities and take necessary action to collect from past due accounts.
• Formulate and implement litigation strategies in collaboration with outside counsel as needed.
• Negotiates with debtors or their representatives to secure repayment agreements and monitors adherence to the terms of repayment agreements.
• Asses the appropriateness of the loan grade, accrual status and any indicators of Troubled Debt Restructuring (“TDR”).
• Act as a liaison and work closely with the other members of the credit administration team.
• Provides technical advice and assistance to lenders regarding the early identification and evaluation of deteriorating loan situations in order to minimize losses and maximize recoveries.
• Maintains current knowledge of all laws, regulations, and rulings concerning real estate lending, insolvency, bankruptcy, etc.
• Promotes a positive spirit by contributing to balancing team and individual responsibilities.
• Performs additional duties as required.
• Regular and reliable attendance is an essential function of the job.
Qualifications
QUALIFICATIONS
EXPERIENCE REQUIREMENTS:
• Minimum 10 years of commercial banking experience including strong special assets/workout experience.
• Prior experience working effectively with outside counsel.
• Experience and knowledge of Chapter 7, Chapter 11 and Chapter 13 bankruptcies.
• Advanced knowledge of loan collections and workout, loan processing/documentation and credit analysis.
EDUCATION REQUIREMENTS:
• Bachelor’s degree.
OTHER REQUIREMENTS (SKILLS, ABILITIES, CHARACTERISTICS):
• Excellent communication skills, including the ability to listen attentively and intuitively, with high comprehension and effectively convey a response that promotes a positive impression.
• Must be driven, accountable, hardworking, goals-oriented and a self-starter.
• Expert knowledge of specialized lending collections.
• Advanced knowledge of commercial real estate lending, loan services and credit policy/procedures.
• Excellent problem-solving, negotiating and decision-making skills
• Strong interpersonal and verbal and written communication skills
• Excellent time management and organizational skills and the ability to work independently with little supervision.
• Ability to make sound decisions of all types, with little hesitation and after thorough consideration of relevant data.
