at Centennial Bank in Conway, Arkansas, United States
Job Description
The Special Asset Loan Officer I manages delinquent loans, collections, and problem/nonperforming loans. This position manages and maintains OREO, OREO sales and rental income, repossessions, and bankruptcies.
ESSENTIAL DUTIES AND RESPONSIBILITIES
1. Completes required BSA/AML training and other compliance training as assigned. This duty is performed annually.
2. The ability to work in a constant state of alertness and in a safe manner. This duty is performed daily.
3. Communicates with loan officers and management regarding problem credits (phone calls, meetings). This duty is performed daily, about 50% of the time.
4. Coordinates necessary documentation for collection purposes. This duty is performed daily, about 10% of the time.
5. Facilitate resolution of payment arrangements. This duty is performed daily, about 10% of the time.
6. Review, code and approve OREO bills, collection bills, and legal bills. This duty is performed as needed.
7. Prepare management ad hoc reports related to Special Assets and past dues. This duty is performed monthly, about 15% of the time.
8. Finalizing OREO sales for closing/application of sale proceeds to GLs. This duty is performed as needed.
9. Attend legal proceedings and foreclosure sales on behalf of the bank. This duty is performed as needed.
10. Discuss Bankruptcies/collection cases with legal counsel. This duty is performed weekly, about 20% of the time.
11. Review and Monitor Bankruptcy Case and Complete Bankruptcy Claim Forms/Reaffirmations. This duty is performed weekly, about 50% of the time.
12. Manage OREO (maintenance, rental income, utilities, repairs, etc). This duty is performed as needed.
13. Collection Calls/ Make payment arrangements with past due customers. This duty is performed weekly, about 15% of the time.
14. Attend meetings and Discuss with Management problem loans and OREO. This duty is performed weekly, about 15% of the time.
15. Locate or Skiptrace to find delinquent customers for collection/judgments. This duty is performed monthly, about 15% of the time.
16. Communicate with Realtors and Title companies on pending OREO sales. This duty is performed as needed.
17. Show OREO to potential buyers and negotiate sales terms. This duty is performed as needed.
18. Order and assign out repossessions. This duty is performed monthly, about 5% of the time.
19. Apply and monitor monthly Bankruptcy payments. This duty is performed monthly, about 20% of the time.
20. Review and Monitor past due loans and problem loans for loan adjustments. This duty is performed monthly, about 10% of the time.
21. Order and Review appraisals for Problem Loans for Transfer to OREO. This duty is performed monthly, about 10% of the time.
22. Maintain OREO files. This duty is performed monthly, about 10% of the time.
23. Perform any other related duties as required or assigned.
QUALIFICATIONS
To perform this job successfully, an individual must be able to perform each essential duty mentioned satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required.
EDUCATION AND EXPERIENCE
Broad knowledge of such fields as accounting, marketing, business administration, finance, etc. Equivalent to a four year college degree, plus 5 years related experience and/or training, and 3 years related management experience, or equivalent combination of education and experience.
COMMUNICATION SKILLS
Ability to read, analyze, and understand common scientific and technical journals, financial reports, and legal documents; Ability to respond to complex or difficult inquiries or complaints from customers, regulatory agencies, or members of the business community.
MATHEMATICAL SKILLS
Ability to calculate figures and amounts such as discounts, interest, commissions, proportions, percentages, area, circumference, and volume. Ability to apply concepts such as fractions, ratios, and proportions to practical situations.
CRITICAL THINKING SKILLS
Ability to solve practical problems and deal with a variety of known variables in situations where only limited standardization exists. Ability to interpret a variety of instructions furnished in written, oral, or diagram formats.
ADDITIONAL INFORMATION
Required:
Banking experience in the field of Special Assets to include knowledge of bankruptcies.
Preferred:
Bachelor's Degree or Special Assets banking experience.
