Special Assets Officer
Company: Rockland Trust
Posted on: November 17, 2022
Position Summary:Rockland Trust is seeking a Special Assets
Officer to manage a diverse number of classified loans as assigned
by the Special Assets Manager. The incumbent will promptly devise,
negotiate and implement strategies and alternative courses of
action to either, rehabilitate viable classified loans or maximize
recovery of principal and interest and expenses for assigned
portfolio of classified loans. They will minimize NPA's, charge
offs and delinquency by helping to attain performance metrics
quarterly and yearly as stated in the RTC'sNon-Performing
Projections for C/O, NPA's and overall delinquency for the
commercial loan portfolio. The incumbent reports to the SAG Manager
and is accountable to the Chief Credit Officer. The SAG Officer
will utilize their credit skills to manage a portfolio of complex
criticized loans for both C&I and Real Estate loans.Will assist
the SAG Manager on specific projects as requested from the SAG
- Manage and maintain an assigned portfolio of classified assets.
This will include middle size middle market accounts, national
syndicated credits, specialized loans and commercial RE loans and
- Ensure compliance with all internal, external and regulatory
compliance matters and issues. Understand completely all specific
rules, regulations, and laws that relate to the management of
problem credits within financial institutions and specifically
- To Perform consistent, timely and high quality credit
administration duties including proper ratings of assigned loan
portfolio, file maintenance, timely completion of memorandums,
- Work with a Portfolio Manager for loan restructure approval,
including submission to Special Asset Committee.
- Work with a Portfolio Manager for credit analysis in accordance
with LUAG for existing relationships with special emphasis on loan
restructuring and risk mitigation.
- Work with Portfolio Manager in the preparation of Watched Asset
Reports & Classified Assets Reports as needed.
- Work with Portfolio Manager to follow up on loan
- Work with Portfolio Manager to maintain timely renewals of loan
maturities for assigned portfolio of criticized assets.
- Monitors current loans and credit lines to ensure compliance
- Monitors and maintain tracking of existing loans for covenant
- Facilitate borrower financial reporting submissions to
- Review and recommend accurate relationship risk ratings on an
- Ensure the timely completion of credit file updates
- Working with Portfolio Manager to communicate with attorneys,
customers, consulting groups, appraisers, etc.
- Work with Portfolio Manager in coordinating pre-closing
- Assisting in the resolution of customer inquiries and
- Work with Portfolio Manager to resolve
- The candidate shall posses the ability to make complex
restructuring and risk mitigation strategies to prevent bank
losses, which are based on their analysis of the business'
financial condition, cash flow, capacity, collateral and its
ability to repay.
- Ability to communicate with existing loan customers, their
accountants, and lawyers as needed to obtain information concerning
their business, needs, abilities and earnings to determine risk
mitigation strategies to prevent losses for the bank.
- Ability to communicate with attorneys as needed to obtain
information concerning legal strategies to determine risk
mitigation strategies to prevent losses for the bank
- Formal Credit Training
- 10+ years previous experience in servicing and working with
distressed portfolios of commercial loans.
- An MBA, Accounting, Finance, Economics or equivalent experience
is preferred .
Our goal is to offer our colleagues the most generous benefits
package possible. We strive to provide colleagues with a
comprehensive benefits package and an environment that supports a
healthy work-life balance. Benefits include: Competitive
compensation with performance incentive awards, Health Insurance,
Dental Insurance, a 401K and DC Plan for your retirement, LTD &
Life Insurance, Vacation Time, Day Care Reimbursement, Tuition
Assistance for graduate and undergraduate programs, an Award
Winning Wellness program and much more!
At Rockland Trust you'll find a respectful and inclusive
environment where everyone is given the chance to succeed. We are
an equal opportunity employer and all qualified applicants will
receive consideration for employment without regard to race, color,
religion, sex, sexual orientation, gender identity, marital status,
national origin, disability status, protected veteran status, or
any other characteristic protected by law.
Reasonable accommodations may be made to enable individuals with
disabilities to perform the essential functions.
Keywords: Rockland Trust, Brockton , Special Assets Officer, Other , Brockton, Massachusetts
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