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Senior Special Assets Officer
| Company | Western Alliance |
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| Location | Phoenix, AZ, USA |
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| Salary | $152000 – $201354 |
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| Type | Full-Time |
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| Degrees | Bachelor’s |
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| Experience Level | Senior |
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Requirements
- Bachelor’s Degree in accounting, finance, economics, business administration or other directly related field is required
- 8 or more years of directly related commercial lending experience, with increasing responsibility for credit analysis and underwriting
- Minimum of two (2) years of problem loan resolution (consumer and commercial), loan servicing, or related industry experience is preferred
- Advanced experience, knowledge and training in financial statement and tax return analysis
- Advanced experience, knowledge and training in all lending activities and terminology
- Advanced knowledge of commercial, construction, real estate and consumer loan processing
- Good working knowledge of proper assignment of loan grades for adversely graded credits
- Working knowledge of identifying impaired loans, choice of methodologies for impairment analysis, identification of accrual status and troubled debt restructures
- Advanced understanding of the Fair Debt Collections Practices Act, bankruptcy law, debtor/creditor law, and the legal aspects of lending.
Responsibilities
- Recommends and manages internal and external action plans to resolve adversely graded loans
- Minimizes bank loss and maximizes recovery and return to performing status
- Prepares, organizes, and maintains working files on assigned assets
- Communicates with borrowers to identify reasons for problem and negotiates acceptable terms and conditions for reinstatement or curing default
- Calculates amounts owed on loans; prepares/reviews reinstatement and payoff statements, default notices, bankruptcy Proofs of Claim
- Performs loan and borrower research on loan servicing systems
- Prepares loan assumption, forbearance, and loan modification documents
- Orders and tracks all necessary third-party reports such as appraisals, environmental inspections, property profiles, title reports, invoices, etc.
- Acts as the Bank’s Loan Recovery Officer
- Initiates Trustee and Attorney engagement packages for foreclosure, receivership, bankruptcy, or other legal actions
- Coordinates collection efforts on adversely graded credits with other institutions such as banks, title companies, and the Small Business Administration
- Works with assigned accounts to improve the Bank’s position to avoid charge offs
- Works with charged off credits for further collection possibilities.
Preferred Qualifications
- Master’s degree in finance, business administration, or similar is preferred
- Minimum of two (2) years of problem loan resolution (consumer and commercial), loan servicing, or related industry experience is preferred
