Independent Bank · 4 hours ago
VP, Commercial Loans Special Assets Officer
Troy, MI
Full-time
Onsite
Mid, Senior Level
5+ years expIndependent Bank is a company that promotes a culture of professional growth and values diversity. They are seeking a VP, Commercial Loans Special Assets Officer to lead the restructuring of adversely-graded loans and manage clients with troubled loans, focusing on preventing losses and maximizing collections.
BankingCommercialFinanceFinancial ServicesLendingMortgageOnline AuctionsRetail
Responsibilities
Acts as primary servicing officer for assigned portfolio. Review and assess all credit and collateral files of workout loans which includes overseeing the critical monitoring of credit risk and devises strategy and execution toward mitigation and resolution before deterioration accelerates
Develops workout strategies; considers borrower’s repayment ability, collateral condition and value, and guarantor support
Leverages and collaborates with business partners in Commercial Banking, Loan Operations, Legal, and Credit to support credit risk mitigation
Evaluates and proposes credit risk ratings within assigned loan portfolio; develops action plans, recommends risk rating upgrades or downgrades as appropriate
Responsible for the day-to-day monitoring of accounts, tracks delinquency on each account, taking the necessary steps to ensure the bank receives payment, daily control of overdrafts on deposit accounts related to portfolio
Develops and implements strategies to recover principal from borrowers whose non-performing loans have been charged off
Compile necessary data including borrower’s financial information, collateral values, etc. in order to present loan proposals to management for approval
Work with attorneys on accounts requiring legal action. Responsible for obtaining updated information regarding legal actions, sheriff’s service, bankruptcy proceedings, judgments, etc. Seasoned in legal statutes pertaining to loan work out plan of action
Make arrangements for payments of discharged debts. Negotiates reaffirmations, offers of settlement and works with bank counsel, defendants counsel or both in order to effectuate closing terms and reviews all agreements presented prior to execution. Refers negotiated terms to supervisor for final approval
Analyze bankruptcy pleadings, make recommendations concerning actions such as repossessions, foreclosures, lifts of stay, reaffirmations, settlement offers and repayment plans consistent with bankruptcy laws
Maintains close control and accounting of expenditures as a vital component of departmental goal to limit losses and maximize loan recoveries. Audit and recommend approval of all invoices generated by vendors to ensure accuracy
Utilizes appropriate resources as needed. Adheres to audit controls, standards, and established guidelines. Clearly communicates with clients and responds to requests as necessary. Adheres to all CRA and Fair Lending practices
Supervises/manages work in process on assignments and preparation of financial analysis, Provides direction and feedback to Commercial Credit Analysts
Maintains professional communicative skills in dealing with loan customers, various outside professionals, and bank personnel of all levels
Participation in court proceedings, facilitation and settlement conferences
Prepare and participate in quarterly problem loan presentation with Senior Executive Management
Performs other related duties as assigned
Qualification
Required
Bachelor's degree in Accounting, Finance, or Business
Successfully completed formal commercial credit training curriculum required (via academics and/or equivalent work experience)
Excellent interpersonal, presentation and communication skills
Ability to operate with a high degree of autonomy, and with management confidence in ability to make difficult credit decisions
Must interact well with executive management, peers, subordinates, and those within and outside of the organization to accomplish results
Must demonstrate computer proficiency and familiarity with financial databases and spreadsheet applications, preferably Microsoft Office
Requires well-honed time management skills
Preferred
5+ years of commercial lending or workout experience; preferably 3+ years of previous collection experience in commercial loans
Benefits
Comprehensive total rewards package.
Community-focused events and volunteer opportunities.
Company
Independent Bank
Independent Bank offers financial services that include retail and commercial banking, mortgage lending, investments, and title services.
501-1000 employees
Funding
Current Stage
Public CompanyTotal Funding
$13.4M2013-09-10Post Ipo Equity· $13.4M
1985-09-13IPO
Leadership Team
William Bradford Kessel
President and CEO
Michael Stodolak
Executive Vice President of Retail Banking
Recent News
2026-01-23
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