Job Title: Special Assets Officer
Reports To: Chief Credit Officer
Special Assets Officer – St Louis Park, MN
Citizens Independent Bank has an opening for a Special Assets Officer at our St. Louis Park location. Under the administration of the Chief Credit Officer, this position is responsible for Special Asset Administration and assists with credit related policies. In this capacity, the incumbent will prepare and present reports to the Board of Directors as necessary. Additional responsibilities include but are not limited to:
- Develops, plans and implements practices and procedures to minimize non-performing assets, criticized/classified assets and loan charge offs from adversely-graded loans (Special Assets) and to return such assets to performing status. Coordinates foreclosure/ replevin efforts as necessary for optimal collection on accounts.
- Works closely with relationship managers and senior management of the bank to gain optimum repayment terms and conditions, collateral coverage, monitoring, recourse positions and covenant terms for existing or modified “special asset” loans.
- Develops and implements strategies to recover principal from borrowers whose loans have been charged off.
- Oversees OREO/ OPPO booking, sale and recovery to maximize bank’s position.
- Works with Finance department to ensure proper booking of assets, accrual issues and payments.
- Prepares monthly/ quarterly reports to senior management and/or Board of Directors as directed.
- Assists in developing training of business bankers and credit administration staff as requested by the Chief Credit Officer.
- Provides industry specific analysis and recommends controls, limits, procedures or policies necessary to protect the bank in the risk categories identified.
- Assists on updating, reviewing and presentation to the Board of Directors of credit related policies and procedures.
- Attends Directors Loan Committee meetings and provides appropriate risk assessments and other comments as needed.
- Monitors the bank’s watch list of criticized and classified assets.
- Works with relationship managers to complete ongoing reporting of Problem Loan Reports for all criticized and classified assets.
- Conducts periodic, formal problem loan reviews.
- Facilitates and monitors attorney relationships as it pertains to credit/workout/collection efforts.
- Provides senior management reporting as requested to help in assessing bank/ lender performance in asset quality measures.
- Participates in special projects for the department as assigned.
- Supervises the Loan Review Specialist.
- Oversees the evaluations, hiring, staff development and other functions and resources dealing with the activities of subordinate position supervised.
- Other duties as assigned.
Experience & Qualifications
- Bachelor degree from a four-year college or university or equivalent experience in skills, knowledge and abilities.
- Minimum of 4 years experience in credit, business lending, bank examinations or related areas.
- Excellent organizational, analytical, and computer skills.
- Excellent written and verbal communication, supervisory skills and interpersonal skills.
- Hours are 8 am - 5 pm, Monday through Friday. Includes 1 out of every 4 Saturdays, 8:45am-12pm. Must be able to stay until work is completed. Must be flexible to adjust work hours to meet the growing needs of the department. This position requires the flexibility to work before or after normal business hours, including Saturdays to meet deadlines and attend various meetings.
About Citizens Independent Bank
Citizens Independent Bank is a community bank with four locations in St Louis Park, Robbinsdale, Hopkins, and Plymouth. Since the bank was chartered in 1949, CIB has dedicated itself to serving the community as well as its customers. We take to heart that local involvement and decision-making is how a bank should operate.
We are looking for employees who will uphold our values of honesty, integrity, social responsibility, and exceptional customer service. If you have these traits, we welcome you to apply.
At CIB, we take care of our people with a comprehensive benefits package that provides a safety net not only for today but also for your future. Eligible employees receive Paid Time Off (PTO), Paid Holidays, Medical Insurance, Dental Insurance, Life Insurance, 401(k), Education Reimbursement and more!
All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, national origin, or other status protected by applicable law. EOE/AA