Peoples Security Bank & Trust · 1 month ago
Asset Recovery Officer
Moosic,PA,US
Full-time
Onsite
Senior Level
5+ years expPeoples Security Bank & Trust is a community-focused bank that has been serving customers since 1905. The Asset Recovery Officer is responsible for managing and collecting problem loans, negotiating restructuring terms, and ensuring compliance with workout agreements to maximize financial recovery.
BankingFinancial ServicesInsurance
Responsibilities
Analyzes assigned problem loans and determines the most effective method for maximizing financial recovery
Discusses collection strategies with Asset Recovery Manager and lending officers
In conjunction with the Asset Recovery Manager, negotiates restructuring of credit and repayment terms with customers, attorneys, and representatives of other creditors and lending personnel from other companies to secure appropriate workout arrangements; maintains regular communication with attorneys and customers
Monitors adherence to terms of workout agreements
Evaluates collateral position to better secure loan and establish recourse to other borrower assets against the possibility of charge off
Monitors the sale of repossessed items through auction or other means
Coordinates the timely purchase of SBA guaranteed loans and reimbursement of qualified expenses from SBA
Calculates and submits required documentation for SBA portion of recoveries
Attends bank foreclosure sales and administers bank-owned property (i.e. obtains insurance coverage, shows property to prospective buyers, lists property with realtor, follows up on maintenance concerns, attends closings, etc.)
Works with Bank’s internal Asset Recovery Department, Loan Administration Department, outside auditors, and outside examiners regarding problem loans
Assists in the development and maintenance of a sound credit policy which is consistent with the Bank's philosophy of lending
Assists with reviews of past-due and criticized loan reports, supervisory examination reports, and other sources of information for possible downgrading of deteriorating situations
Qualification
Required
A B.S. or B.A. degree in a related field of study normally required; specialized loan workout education/training
Must demonstrate strong communication skills
Proficient interpersonal relations skills
Proficient financial statement analysis skills
Thorough knowledge of bank lending principles, policies, and practices
Knowledge of current lending and loan workout laws and regulations
Moderate PC skills
A minimum of five (5) years' related experience normally required
Benefits
Medical Plans
Dental Plan
Vision Plan
Life Insurance
Disability Insurance
401(K) Plan
ESOP Plan
Paid Time Off
Paid Holidays
Voluntary Time Off
Employee Assistance Program
Banking Classes
Internal Advancement Opportunities
Company
Peoples Security Bank & Trust
Peoples Security Bank & Trust has become one of the largest independent community banks in eastern Pennsylvania with a footprint stretching through Pennsylvania, New York, and New Jersey.
201-500 employees
Funding
Current Stage
Public CompanyTotal Funding
$118M2025-06-06Post Ipo Debt· $85M
2020-06-01Post Ipo Debt· $33M
2014-04-02IPO
Leadership Team
Jeffrey Drobins
Executive Vice President, Chief Lending Officer
Neal Koplin
Senior Executive Vice President - Chief Banking Officer
Recent News
2025-11-01
2025-02-04
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