Special Assets Officer

Company: Disability Solutions
Location: Phoenix
Posted on: November 1, 2024

Job Description:

Job Title:Special Assets OfficerLocation:CityScapeWhat you'll do:The Special Assets Officer recommends and manages internal and external action plans to resolve adversely graded loans, minimize bank loss and maximize recovery and return to performing status. This requires direct meetings and negotiations with the Borrower and related parties, as well as other 3rd party professionals and vendors. Internal Bank cross-departmental coordination may be under supervision of manager or other senior personnel.What we are looking for:

• Prepares, organizes, and maintains working files on assigned assets, requiring knowledge of all loan and real estate documentation. 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, Broker Opinions of Value, 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 while maintaining the Banks best interest.
• Works with assigned accounts to improve the Bank's position to avoid charge offs. Works with charged off credits for further collection possibilities.Qualifications:
  • Bachelor's Degree in accounting, finance, economics, business administration or other directly related field is required; Master's degree in finance, business administration, or similar is preferred.
  • 5 or more years of directly related commercial lending experience, with increasing responsibility for credit analysis and underwriting. Minimum of one (1) year of problem loan resolution (consumer and commercial), loan servicing, or related industry experience is preferred.
  • Intermediate experience, knowledge and training in financial statement and tax return analysis typically resulting from a combination of education in accounting, financial and/or credit analysis or related areas. Intermediate experience, knowledge and training in all lending activities and terminology. Intermediate 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.
  • Intermediate understanding of the Fair Debt Collections Practices Act, bankruptcy law, debtor/creditor law, and the legal aspects of lendingCompensation: Salary range for new hires is generally $133,000.00 - $158,456.00 for Las Vegas, NV. Salary range for new hires is generally $142,000.00 - $166,982.00 for Denver, CO. Salary amount is determined by specific job location. In addition, the role may be eligible for annual bonus/incentives earned and restricted stock.Benefits you'll love:We offer all the important things you'd want - like competitive salaries, an ownership stake in the company, medical and dental insurance, time off, a great 401k matching program, tuition assistance program, an employee volunteer program, and a wellness program. In addition, you'll have the opportunity to bolster your business knowledge, learning the ins and outs of how successful companies operate and manage their finances, giving you invaluable hands-on experience to help grow your career!About the company:Western Alliance Bank is a wholly owned subsidiary of Western Alliance Bancorporation. Alliance Bank of Arizona, Alliance Association Bank, Bank of Nevada, Bridge Bank, First Independent Bank, and Torrey Pines Bank are divisions of Western Alliance Bank; Member FDIC. AmeriHome Mortgage is a Western Alliance Bank company.Western Alliance Bancorporation is committed to equal employment and will consider all qualified applicants without regard to race, sex, color, religion, age, nation origin, marital status, disability, protected veteran status, sexual orientation, gender identity or genetic information. Western Alliance Bancorporation is committed to working with and providing reasonable accommodations for individuals with disabilities. If you are an individual with a disability and require a reasonable accommodation to complete any part of the application process and/or need an alternative method of applying, please email HR@westernalliancebank.com or call 602-386-2488. When contacting us, please provide your contact information and state the nature of your accessibility issue. We will only respond to inquiries concerning requests that involve a reasonable accommodation in the application process.-- Western Alliance Bancorporation

Keywords: Disability Solutions, Sun City , Special Assets Officer, Other , Phoenix, Arizona