QNB Bank · 3 months ago
Special Assets Manager
Quakertown, PA
Full-time
Onsite
Senior Level
5+ years expQNB Bank is seeking a Special Assets Manager to efficiently track and manage the bank's Special Assets. The role involves negotiating with borrowers and legal counsel, overseeing collection efforts, and managing employees within the Special Assets/Collections Department.
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Responsibilities
Identify warning signs of potential problem loans, assist in the assignment of credit ratings and make recommendations to management on credit related issues
Ascertain the current status of relationships via review and analysis of financial information, loan documentation, credit reports, etc
Negotiate with borrowers and legal counsel to assess and formulate options available to create a resolution which minimizes the probability of further credit deterioration and/or the loss of principal, interest and expenses
Provide recommendations to senior management regarding action to be taken in connection with the objectives outlined above. Oversee the implementation and management of the selected courses of action
Monitor accounts within the portfolio, including but not limited to periodically investigating compliance with contractual obligations, such as taxes, insurance coverage, lien positions, etc
Manage the collection process from identification to resolution, including foreclosure, if necessary. Responsible for overseeing the effective collection of all past due loans within the Bank's various loan portfolios
Serve as back-up to the Loss Mitigation Specialist
Prepare and distribute regular activity reports to Senior Management and Regulatory agencies, as requested
Manage and supervise employees of the Special Assets/Collections Department
Oversee and facilitate the insurance claims process for loan customers to ensure protection of the Bank's collateral
Comply with and monitor changes to the required collection procedures for the SBA and Government Sponsored Enterprises (i.e. FHLMC & FHLB) to ensure compliance
Attend Bank foreclosure sales and administer Bank-owned property (i.e. obtain insurance coverage, show property to prospective buyers, list property with realtor, follow up on maintenance concerns, attend closings, etc.)
Manage the maintenance, repair, security and disposal of properties obtained through foreclosure
Coordinate and lead the monthly Delinquency and quarterly Special Asset Committee meetings. Review and approve the minutes for the meetings and ensure distribution to the appropriate individuals
Document collection efforts in the Bank's customer relationship management or core processing system, as appropriate
Ensure legal documentation, correspondence, invoices, etc. are saved in the appropriate digital files
Submit invoices from attorneys and vendors for payment
Responsible for the annual budget of the Special Assets Department
Track and provide the information necessary to the appropriate departments for preparation of IRS forms 1099-C (Cancellation of Debt) and 1099-A (Abandonment of Collateral) to mail to the respective customers
Serve as back-up for the appraisal process as needed
Complete assigned compliance training in a timely manner and demonstrate the ability to apply training to their duties and responsibilities including their supervision of other employees
Comply with the Bank's policies and procedures; ensure departmental procedures are kept up to date
Comply with all State, Federal, and local laws as well as Bank regulations
Assume additional job-related duties as required
Qualification
Required
Must have a minimum of five years of Workout and/or Commercial Lending experience
Understanding of loan and legal documents and related terminology
Knowledge of laws and regulations, including the Fair Debt Collection Practices Act
Understanding of accounting and financial statements
Familiarity with third party reports including appraisals, property condition reports, etc
Strong risk assessment and negotiations skills
Ability to multitask in a fast-paced environment
Strong communication and interpersonal skills, both written and oral, to represent the Bank in a positive and professional manner
Proficiency with Microsoft Office suite
Company
QNB Bank
QNB Bank is a community bank headquartered in Quakertown, Pennsylvania.
201-500 employees
Funding
Current Stage
Public CompanyTotal Funding
$40M2024-09-03Post Ipo Debt· $40M
1995-05-16IPO
Leadership Team
David Freeman
President, Chief Executive Officer
Jeffrey Lehocky
Executive Vice President, Chief Financial Officer
Recent News
2026-01-22
2025-12-30
MarketScreener
2025-10-29
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