Responsible for assisting in the management of all aspects of the banks problem loan portfolio. Provide support to the Special Assets Manager, which may include performing a variety of administrative, production and accounting tasks. Responsible for confidential and time sensitive material. Must have the ability to effectively communicate by phone and in writing. May be responsible for special projects or specialized responsibilities.
ESSENTIAL DUTIES & RESPONSIBILITIES INCLUDE THE FOLLOWING (This job description does not list all the duties of the job).
• Monitoring past due loans and contacting borrowers for payments
• Completing and presenting quarterly problem loan reports
• Prepare risk grade, non-accrual and charge off recommendations
• Implementing strategies to collect and/or upgrade problem loans to meet the bank’s minimum credit standards and minimize loss potential
• Manage loan workout processes including preparing and sending demand letters, ordering and reviewing credit reports, site visits and real estate and personal property appraisals
• Complete collateral analysis
• Submit requests to the SBA to buy back loans from the secondary market, which consists of preparing
SBA transcripts of account and gathering required documents
• Compile documents to prepare SBA 10-tab guaranty purchase packages, wrap up and charge off packages and CPC packages
• Compile documents and information to commence foreclosure.
• Monitor bankruptcy proceedings and foreclosures.
• Monitor ongoing performance of the loans being paid under forbearance, settlements, modifications, etc.
• Monitor loans for covenant compliance to include delinquent property taxes and technical defaults such as failure to provide or maintain required insurance (life, hazard, flood, liability, worker’s comp, etc.).
• Review file documentation on problem assets to ensure there are no documentation deficiencies and the bank’s collateral position is properly perfected and correct documentation exceptions when necessary.
• Collect financial information to spread and analyze financial condition.
• Assist special assets manager in managing OREO property
Under general supervision, may be responsible for a portfolio of problem loans to include creating and implementing action plans for maximum repayment and recovery, which could include liquidating collateral, negotiating workout terms, preparing litigation plans, etc. Communication with all obligors, as well as all involved and interested third parties on assigned loans as the primary contact for the Bank. Responsible for ensuring confidentially in all aspects of this position and handling time sensitive material. Must have the ability to effectively communicate by phone and email. May be responsible for special projects or specialized responsibilities. Must adhere to standard banking regulations and practice proficiency and enforcement (when required) in First Choice Bank’s Bank Secrecy Act Policy including Anti-Money Laundering and the Customer Identification Program.
In addition to the above, employee may handle aspects of liquidating collateral to include working with legal counsel, monitoring bankruptcy, negotiating the sale of collateral. Employee may also negotiate workouts for orderly repayment.
This position may have direct or indirect interaction with customers and/or prospects and therefore includes responsibilities relating to BSA/AML, OFAC & USA Patriot Act. In addition to completing annual BSA/AML/OFAC training to remain current with BSA/AML regulations, employee must fulfill any other BSA/AML training as it relates to implementation of BSA/AML regulations within the scope of the Employee’s position. This position requires use of sound judgment and application of concepts when evaluating potential customer relationships, in order to ascertain potential risks involved including such issues as cash transactions, wires, ownership structure for businesses, sources of revenue, and so forth. Employee will also need to understand policies and procedures regarding the completion of customer profiles and risk ratings.
Employee must have knowledge of and adhere to the Bank’s regulatory compliance policies, procedures and processes, which affect the position. Employee must attend and/or complete assigned training to stay current with new and existing compliance issues, policies, procedures and processes as they relate to the Bank in general and specific to the job responsibilities.
These specifications are general guidelines based on the minimum experience normally considered essential to the satisfactory performance of this position. The requirements listed below are representative of the knowledge, skill and/or ability required to perform the position in a satisfactory manner. Individual abilities may result in some deviation from these guidelines.
To perform this job successfully, the individual must be able to perform each essential duty and responsibility, as summarized in the above Job Summary section. The requirements listed below are representative of knowledge, skill, and/or ability required.
• Bachelor’s Degree in business administration, accounting finance or related field preferred
• Five to ten years of loan workout and liquidation experience, or SBA Lending experience related to SBA SOP 50 57 and/or SBA Underwriting loan experience
• Must have understanding of lending concepts and experience working on complex credits of all types
• Thorough knowledge of lending operations, loan processing, documentation requirements and procedures
• Ability to spread and analyze financial statements
• Working knowledge of workout strategies, commercial and SBA credit analysis and problem loan structuring
• Strong understanding of bankruptcy laws
• Problem Solving and negotiating experience
• Familiarity with the legal issues involved with distressed loans such as bankruptcy actions, foreclosures, collateral collection remedies, etc.
• Well-developed records management and business writing skills
• Multi-tasking and prioritizing skills
• Excellent customer service/relations skills with the ability to work as a team in group settings
• General banking skills, excellent oral and written communications skills
• Good computer skills including the ability to use computer software programs such as Word and Excel
• Ability to read and understand technical correspondence and reports
• Strong attention to detail and strong sense of urgency
-Bank paid life/short and long term disability insurance
-Pet Insurance discounts
-Auto/Home Insurance discounts
-10 paid holidays
-401K Plan with Bank match
-Paid Time Off
First Choice Bank is an Equal Opportunity/Affirmative Action Employer, M/F/D/V. First Choice Bank is fully committed to the principle of equal opportunity and diversity. All qualified applicants will receive consideration for employment without regard to race, religion, color, national origin, sex, sexual orientation, gender identity & gender expression, status as a protected veteran, or disability or any characteristic protected by law.
Note: This preceding job description has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job.
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If you need assistance or an accommodation while seeking employment with us, please e-mail
email@example.com or call: 760-448-4707. We will make a determination on your request for
reasonable accommodation on a case-by-case basis.
Additional Salary Information: Depends on Experience
About First Choice Bank
First Choice Bank, headquartered in Cerritos, California is a community focused financial institution serving diverse consumers and commercial clients and specializing in loans to small businesses, Commercial and Industrial (C&I) loans and commercial real estate loans with a niche in providing finance for the hospitality industry. The bank is a Preferred Small Business Administration (SBA) Lender.
Founded in 2005, First Choice Bank has quickly become a leading provider of financial services that enable our customers to grow, maintain strength, and reach unprecedented levels of success. With a majority of our founders being first generation immigrants, our vision is to provide flexible solutions to Southern California's underserved communities. We surpass our clients' expectations through our efficiency and professionalism and are committed to being "First in Speed, Service, and Solutions."
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