What are the responsibilities and job description for the Special Assets Manager position at Thomaston Savings Bank?
Responsible for the workout and restructure process for the commercial loan portfolio, including but not limited to, developing or assisting lenders with workout plans, submit recommendations to appropriate loan authority, assign appropriate risk rating, accrual status, and manage the criticized action plans in LoanVantage. Ability to analyze borrowers’ and guarantors’ financial statements.
Oversee and provide direction to the Collections Officer and Residential Workout and Construction Officer regarding residential and consumer workouts and restructures to ensure a timely resolution of problem accounts.
Responsible for hiring, training, performance evaluations and career development for the subordinate positions of the department including Special Assets Portfolio Manager, Collections Officer, Residential Workout and Construction Officer and Special Assets Administrator.
Manages foreclosures, negotiates deed-in-lieu, short sales, asset seizures and liquidations, restructures, modifications and deferments for residential, consumer, commercial loans, and SBA loans. Ensure proper documentation for these transactions per regulations, internal policy and procedures and investor guidelines.
Writes and enhances Loan Collection policy, Loan Collection procedures and workflow management.
Responsible for the management of the Bank’s Watch List. Recommend strategies to Bank management on loan portfolio trends regarding delinquencies and asset quality.
Assists with the Current Expected Credit Loss impairment analysis on a quarterly basis. Oversee and complete all projects as assigned. Keeps Management abreast of all critical issues.
Must comply with all company policies and procedures, applicable laws and regulations, including but not limited to, the Bank Secrecy Act, the Patriot Act, and the Office of Foreign Assets Control.
EOE, including disability/vets
