Special Assets Officer III

Location

800 Philadelphia Street, Indiana, Pa 15701

2 North Church Street, West Chester, PA 19380

491 North Cleveland-Massillon Road, Akron, OH 44333

2032 Front Street, Cuyahoga Falls, OH 44221

309 Main St., Irwin, PA 15642

358 North Shore Drive, Pittsburgh, Pa 15212

Monday - Friday 8AM-5PM (Additional hours as necessary to meet the objectives of the department)

Responsible for the effective management of a portfolio of 15-20 commercial loan workout relationships with an average size of >$2.5MM, diverse scope and complexity. Ensures timely resolution of transactions while preserving principal, obtaining fee income and expense reimbursements. Establishes action plans with specific resolution target dates and promptly conveys recommendations on adjustments for risk ratings, loss recognitions or write‑offs and accrual status.

Loan approval authority of $5MM workout only. Uses professional knowledge, experience, and analytical criteria to make decisions and acts independently to determine methods and procedures on new assignments.

• Effectively manages an assigned portfolio of commercial loan workout relationships. May work closely with officials of both lending and borrowing institutions to develop feasible, timely workout strategies; restructuring credit and repayment terms, better securing collateral or establishing recourse to other borrower assets.
• Coordinates with tax, legal, audit, and credit/loan policy departments as necessary to ensure compliance of negotiated workout agreements with established company policies and regulatory agencies ordinances.
• Coordinates the enforcement of bank rights and remedies if negotiated workout plan proves not feasible and/or further default ensues. May work closely with counsel, loan recovery, turnaround professionals, court‑appointed receivers, and others in enforcement proceedings, seeking to maximize the recovery of nonperforming assets. Attend bank judicial proceedings as required. Coordinate and establish liquidation value of bank collateral in conjunction with liquidators, appraisers and other professionals.
• Prepares management reporting and maintains credit file documentation. Timely recommends risk rating adjustments as needed, updating loan loss recognition and required accruals. Monitors covenant compliance, ensures required financial reporting, and resolves any documented exceptions.
• Monitors the collection and ensures the correct application of recovered funds. Coordinates the proper implementation of workout plans with loan review, accounting, and other relevant departments.
• Interacts regularly with peers in other functional areas, managers, and customers. Interactions may involve controversial situations or trying to influence actions. Erroneous decisions can result in critical delays in schedules or department operations or jeopardize overall business objectives.
• May orient, train, or review the work of lower‑level workout analysts.
• Maintains a good working relationship with bank employees. Demonstrates a strong ability to work as a team player to contribute to the success of the branch and in turn, the organization.
• Performs other related duties as required.

Requires a four‑year degree. Degree in Accounting, Business Administration or Finance preferred.

Requires 10+ years directly related work experience (including 5+ years workout and 5+ years lending).

Operates a keypad device 30% of the day; operates office equipment 5% of the day; operates personal vehicle 5% of the day. The primary parts of the body involved in performing these tasks are the fingers, hands, thumb, wrists, elbow, legs, lower, and upper torso and feet. Sitting is required 90% of the day in a leaning position. Walking is required 10% of the day, which is slow in speed.

Performs repetitive movements for typing up to 30% of the business day. Specific vision requirements include close vision of 18‑20” for computer work. Business travel is required to meet customers, attorneys, and consultants (usually same day travel). Potential exists for threat of physical harm due to the nature of the job.

Equal Opportunity…