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SVP, Special Assets Manager
Boston, MA
Job Description
SVP, Special Assets Manager
Division: Risk Management
Department: Loan Workout
Reports to: EVP, Chief Credit Officer
Status: Exempt/Officer
Grade: 15
Pay Range: $139,614 - $251,282
Actual compensation within the pay range will be decided based on factors including, but not limited to, skills, prior relevant experience, and specific work location.
Location: Hybrid - Boston or Worcester, MA or Albany, NY
Purpose/Objective:
Administer loan quality through the direct oversight of Commercial Workout, Small Business Workout, and the Loan Quality Portfolio Monitoring Group. The primary focus will be to ensure asset quality soundness through the management of the troubled loan portfolio via the AQR and Asset Quality Forecasting processes, and loan quality administration. The secondary focus will be to ascertain the credit risk, on the line side of the Bank, via participation in the Credit Risk Committee (voting member) and ELC (non-voting member).
Key Accountabilities:
* Assist the EVP, Chief Credit Officer with the administration of the loan portfolio, with an emphasis on loan quality, through a variety of tools such as personnel, policies, procedures, and processes.
* Oversee and provide leadership, guidance, and expertise to a team of seasoned Workout Officers whose goal is to improve the asset quality and minimize losses of the Bank through an efficient exit and remediation process.
* Coordinate with the Loan Review team to ensure that a proper set of checks and balances are in place to measure and protect the loan quality of the Bank. In addition to the review of individual loans and loan portfolios, emphasis will be placed on the review of all processes and procedures to safeguard the portfolio from credit risk.
* Manage the quarterly Loan Workout AQR process and be an active participant in the quarterly Line AQR process.
* Work with the Loan Quality Group and Strategic Services to improve the asset quality forecasting process. This includes setting the plan and providing quarterly and annual forecast and budget data for charge off, NPL, delinquent, criticized and watch loans.
* Administer the loan quality of the Bank through sign-off authority on loan approvals and modifications, risk rating upgrades and downgrades, partial and full charge-offs, TDR's, FAS 114 analysis, non-accrual, and charge-off waivers.
* Works in collaboration with other leaders in Commercial and Credit/Risk Management (i.e., legal, documentation, compliance, credit, and the line) to achieve the goals of the Bank.
* Participates in civic activities to promote growth and development of the community and a positive image for the Company. Performs additional duties and participates in special projects as required.
* Ensures compliance with all banking laws, rules, regulations, and prescribed policies/practices/procedures necessary to reduce risk and uphold ethical standards related to and required by one's duties.
Portfolio Information:
Commercial loan portfolio size of $9.1 billion; includes CRE, C&I, Asset Based Lending, and Small Business
Education:
* Bachelor's degree
* Ongoing industry related and management education
* Formal credit training
Experience:
* 15+ years of workout and troubled loan experience critical
* Commercial credit experience
* Commercial lending experience
* Supervisory and leadership experience
Skills & Knowledge:
* Strong leadership and communication skills
* Knowledge of bankruptcy laws/regulations and legal system surrounding restructurings, collections, filings, etc. required
* Self-motivated with strong initiative
* Strong knowledge of ABL, C&I, CRE, and construction lending structures and products
* Familiarity with generally accepted accounting principles (GAAP) pertaining to carrying problem loans on the balance sheet
Berkshire Bank is an Equal Opportunity Employer - all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity or national origin.
Equal Opportunity Employer Minorities/Women/Protected Veterans/Disabled
Job Summary
Start Date
As soon as possible
Employment Term and Type
Regular, Full Time
Required Education
Bachelor's Degree
Required Experience
15+ years
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