Special Assets and Lending Workout Officer

Description

Connect One Bank proves that putting people first is a better way to do business. At Connect One, we’re builders — of businesses, communities, and equity. Most importantly, we’re building opportunities. Our mission is to ensure our employees feel empowered to make important decisions, reach their potential and truly make an impact.

Connect One is a growth organization by design; it is part of our DNA and we take pride in seeing our employees grow with us. Founded in 2005 by an entrepreneur, we have grown into a high-performing commercial bank, inspiring a new model for our industry’s future. By embracing technology and all the ways it can help us become a world-class service organization, we support small business owners by fueling their mission.

People First is the blueprint for our culture. It is at the foundation of everything we do and the decisions we make. At Connect One, you have the opportunity to be a part of a dynamic culture and team. Develop your forward-thinking skills, thrive in an entrepreneurial setting, and succeed at “a better place to be”.

Connect One Bank is an Equal Housing and Equal Opportunity Lender, and a member of the Federal Deposit Insurance Corporation.

The Special Assets and Lending Workout Officer is responsible for the management of an assigned portfolio of troubled loans in compliance with all applicable State and Federal laws, rules and regulations, and Bank loan policies and procedures.

• Support the Bank’s “People First” focus and rules of engagement—maintaining a professional demeanor, working as an active member of the CNOB team, providing all clients excellent service, always striving to make CNOB “A Better Place to Be”.
• Implement approved loan collection and litigation plans, including taking appropriate measures to mitigate the risk of loan loss, preserving collateral and/or lien rights, and documenting any loan restructure.
• Evaluate assigned loans, borrowers and guarantors.
• Review loan documentation for errors and/or deficiencies.
• Serve as asset manager for assigned loan relationships to improve loan performance or status.
• Develop and recommend workout strategies and make necessary judgments to protect the bank's interest and achieve maximum recovery.
• Review and assess the potential impact of borrower bankruptcy filings to ensure protection of the bank’s position as a creditor.
• Administer the disposition of Other Real Estate Owned (OREO) assets.
• Implement strategies for legal action through Bank Counsel.
• Monitor and report the status of assigned loans to Senior Management. Such reporting includes, but is not limited to, past due loan reports, risk rating recommendations, and assessing loan loss potential.
• Prepare and present requests for approval of workouts, restructures, litigation, and liquidation.
• Prepare a variety of monthly and quarterly reports (e.g., monthly criticized loan reports, quarterly impairment analysis reports).

• Expert knowledge of relevant Federal and State banking regulations.
• Familiarity with Bank security and safety practices.
• Knowledge of CNOB products and services preferred.
• Familiarity with collections, foreclosure, and bankruptcy procedures.
• Working knowledge of all consumer, commercial, and commercial real estate lending, compliance, and regulatory requirements.
• Strong negotiation skills.
• Conflict resolution experience.
• Good organizational skills, with the ability to multitask efficiently.
• Proven ability to problem solve and handle a wide range of decision making.
• Strong attention to detail.
• Strong “People First” interest and ability.

• Working knowledge of Google applications and products is preferred.
• Working knowledge of the nCino platform is helpful, but not required.
• 5 years of workout experience is preferred.

Benefits:

• World class health, vision, and dental benefits on day one
• 401k with employer match
• Hybrid work from home (depending on role)
• Employee appreciation events (team building, softball games, food truck days, etc..)
• Employee assistance programs (EAP)
• Wellness programs (flu shot, preventive care, health programs and services discounts,…