The Special Assets Senior Manager is responsible for initiating, pursuing, and ensuring prompt collections of loans with special and personal attention on commercial lines of business. Additionally, the Special Assets Senior Manager provides direct supervision of the Consumer Collections team. This position facilitates monthly department meetings, is responsible for periodic management reporting, and represents the Collections Department in inter-department meetings as directed. This role has contact with individuals within their department and extensive external contact with clients.
Essential Job Duties & Responsibilities
- Coordinate and manage bank’s credit collection activities. Specifically responsible troubled asset management and commercial loan collection.
- Oversee efforts of Consumer Collections Department manager and collection staff with regards to the remediation of delinquent consumer accounts
- Handle customer inquiries/concerns with regards to the collection process using defusing techniques, minimizing any potential damage to bank reputation.
- Negotiate payment terms and methods when right party is reached. The negotiation process often requires reviewing the account information in database, and/or asking probing questions of the consumer in order to better understand potential objections to payment.
- Assist Chief Credit Officer with other duties as assigned including but not limited to quarterly watch list report completion, preparing and compiling information for internal and external auditors and regulators
- Provides oversight and direction to his/her team members in accordance with the organization's policies and procedures. Coaches, mentors, and develops staff, including overseeing new employee onboarding and providing career development planning and opportunities. Consciously creates a workplace culture that is positive consistent with the organization's goals. Leads employees to meet expectations for productivity, quality, and goal accomplishment. Provides effective performance feedback through recognition, rewards, and disciplinary action, with the assistance of Human Resources, when necessary. Maintains employee work schedules including paid time off and any requested leave of absence. Maintains transparent communication as appropriate through department meetings, one-on-one meetings, and appropriate email and regular interpersonal communication.
Experience and Education
- Bachelor’s degree in Business Administration, Finance, or related field preferred or equivalent experience is preferred. A high school diploma is a must. Progressive industry experience can substitute for formal education.
- Significant previous collection experience is required. Commercial Collections experience strongly preferred.
- Demonstrated knowledge of commercial and consumer collections regulations and compliance is a must.
- Must have demonstrated knowledge and ability in the following areas:
- Commercial credit underwriting and troubled asset portfolio management
- Development of collections/workout plans, client negotiations and communications
- Loan documentation, collateral lien perfection, and collateral liquidation
- Previous supervisory experience is preferred