Northwest Bank · 3 months ago
Commercial Banking - Special Assets Officer
Midvale, UT
Full-time
Onsite
Senior Level
7+ years expNorthwest Bank is seeking a Special Assets Officer responsible for managing a portfolio of adverse risk rated loans. This role involves developing strategies to maximize recovery and minimize losses while working closely with borrowers, executives, and legal teams.
BankingFinanceFinancial Services
Responsibilities
Perform assigned duties in accordance with the Bank’s Mission, Vision and Core Values; and provide the Bank’s customers and employees with timely, responsive and exceptional service in accordance with the Bank’s customer service standards and internal service level agreements
Responsible for managing a portfolio of Criticized or Classified Assets, Repossessed Assets and Other Real Estate Owned within established bank policies and procedures to minimize losses and maximize recoveries on loans, repossessed assets and Other Real Estate Owned to the bank through effective development, implementation of workout and liquidation strategies to mitigate loss
Responsible for identifying and developing strategies to maximize recovery and minimize, eliminate potential losses , through collection activities, , negotiating, execution of workout action plans including proposing loan restructures, managing negotiations and legal actions, evaluating bank collateral and documentation, and recommending alternative solutions as well as judgment/foreclosure litigation, asset liquidation and bankruptcy and provide recommendations for approval within established time frames
Responsible for creation of, management, and implementation of asset disposition relative to more complex transactions including C&I collateral, A&D, bulk lots, land development properties, and note sales
Create and prepare reports pertaining to portfolio status, action plans, performance tracking, forecasting losses, charge-off recommendations, impairment analyses, accrual / non-accrual recommendations and other relevant reports for the area of responsibility. Reports may be in conjunction with other departments within the Bank
Maintain third party client contact records
Perform other duties as assigned
Qualification
Required
Bachelor's Degree in Business/Finance, related field and/or equivalent experience required
7.5 years' experience in special assets in C&I, Real Estate, or Small Business Administration (SBA)
7.5 years' commercial credit skills and experience analyzing corporate financial statements, cash flow statements, evaluating appraisals and commercial/corporate structure including restructure of C&I, Real Estate and SBA loans
Demonstrated ability to analyze credit and to develop and negotiate repayment terms with small and mid-sized companies and high net worth individuals
7.5 years' experience with financial analysis, bankruptcy, workout, UCC, litigation, foreclosure of personal and real property and disposition of collateral
7.5 years' experience with loan restructuring and re-negotiation of interest rates, terms, collateral requirements, documentation and loan agreements
7.5 years' experience in working through adversarial litigation scenarios
Maintain constructive interaction with clients, work colleagues, and bank regulators
Advanced knowledge of loan impairment analysis and updating ALLL information
Ability to train and present to small and mid-size audiences
Excellent interpersonal, verbal and written communication skills, negotiation, analytical, and organizational skills to interact effectively with all levels of Bank personnel and customers due to the complex nature of special assets management
Ability to work in a team oriented, goal driven environment
Ability to meet tight deadlines, problem solve, set and achieve priorities and goals
High working knowledge of both internal policies and procedures and the laws and regulations governing departmental functions to ensure performance of individual job duties within the proper control environment
Thorough understanding of bank loans and loan systems
Travel may be required to facilitate effective completion of job duties including liquidation of problem assets, third party training and development, and collaboration with all markets in credit management
Proficient computer skills with collaboration and productivity tools including Windows-based operating systems and office suites (Microsoft Word, Outlook, Excel, PowerPoint); spreadsheet applications to organize data used for advanced data analysis; internet; email; and bank software
Preferred
Understanding of the SBA SOP requirements for liquidation plans, eTran updates, 10-Tab SBA Guarantee request form, etc
Ability to communicate clearly and efficiently with Borrower's when collection efforts become challenging and or contentious
Ability to independently assess the Bank's position or risk when evaluating special assets and be able to quickly communicate a necessary action plan based on that assessment
Company
Northwest Bank
Northwest Bank is a privately held community bank that offers services to small and medium-sized companies, professionals, and NGOs.
51-200 employees
H1B Sponsorship
Northwest Bank has a track record of offering H1B sponsorships. Please note that this does not
guarantee sponsorship for this specific role. Below presents additional info for your
reference. (Data Powered by US Department of Labor)
Distribution of Different Job Fields Receiving Sponsorship
Represents job field similar to this job
Trends of Total Sponsorships
2025 (4)
2024 (7)
2023 (3)
2022 (1)
2021 (5)
2020 (3)
Funding
Current Stage
Growth StageLeadership Team
Scott Van Den Elzen
SVP, Chief Technology Officer
Allan Siegel
Chief Financial Officer
Company data provided by crunchbase