Needham Bank
Managed Assets Group Leader
Needham Bank, Needham, MA
Job Description
Job Summary: Responsible for managing problem loans and recommending workout strategies, loan modifications and other loss mitigation scenarios. Develops account remediation strategies, represents the Bank at foreclosure auctions, manages property post foreclosure and oversees the orderly liquidation and protection of Bank' collateral.
ESSENTIAL DUTIES & RESPONSIBILITIES
JOB REQUIREMENTS
Experience and Skills
EDUCATION & EXPERIENCE
WORKING CONDITIONS/PHYSICAL DEMANDS
Needham Bank offers a competitive salary and an amazing benefit package for a full-time employee which includes fully paid medical and dental insurance, HRA, 401(k) plan with an 8% bank match, paid time off (PTO), paid holidays, a bonus program, flexible spending accounts, vision service plan, group term life insurance, short and long term disability insurance, tuition reimbursement, and an Employee Assistance Program. We offer a great benefit package to our eligible part-time employees as well.
At NB, we are dedicated to building a diverse, inclusive and authentic workplace - if you are excited about this role, but your past experience doesn't align perfectly with every qualification in the job description, we still encourage you to apply. You may be just the right candidate for this or other roles.
Needham Bank is an Equal Opportunity/Affirmative Action Employer. Needham Bank will provide all applicants for employment and all employees with equal opportunity for employment and promotion regardless of race, color, religion, gender, national origin or ancestry, age, disability, veteran status, military service, sexual orientation, genetic information, or gender identity.
Job Summary: Responsible for managing problem loans and recommending workout strategies, loan modifications and other loss mitigation scenarios. Develops account remediation strategies, represents the Bank at foreclosure auctions, manages property post foreclosure and oversees the orderly liquidation and protection of Bank' collateral.
ESSENTIAL DUTIES & RESPONSIBILITIES
- Manages all workout department disciplines; collections, reporting, account workout, litigation, OREO, and general adverse borrower litigation.
- Manages recovery activities independently or with collections specialist and line officers.
- Meets with borrowers to develop a resolution for problem loans. Performs in depth financial and cash flow analysis. Develops resolution strategies and implements these strategies to protect Bank assets.
- Oversees maintenance of Bank's Watch list, Criticized Asset Reports, Delinquency Reports, and chairs the Bank's Troubled Asset Review Committee (TARC).
- Identifies and remediates account or collateral problem issues occurring in any of the Bank's loan portfolios in order to protect Bank depositors and secure bank assets and collateral
- Provides guidance to all levels of lenders and management regarding adverse situations or problem accounts.
- Provides guidance and training to less experienced staff.
- Performs additional duties as requested, needed or assigned.
JOB REQUIREMENTS
- C&I (including Small Business) and Commercial Real Estate workout experience is required.
- Technical proficiency utilizing various banking systems to conduct analysis and generate reports.
- General business and financial knowledge; understanding of regulatory requirements.
- Knowledge of the Bank's operations, management, and strategy.
- Interpersonal relations: particularly tact, sensitivity, professionalism, confidentiality, and diplomacy; ability to negotiate effectively with customers.
- Strong communication skills (verbal and written) with strong interpersonal effectiveness and experience building successful relationships and partnerships at all organizational levels.
- Ability to work on multiple projects simultaneously, managing time and resources to ensure work is completed efficiently and within established time frames.
- Analytical, decision-making, and problem-solving skills.
- High degree of proficiency with Microsoft Office applications.
- Ability to adhere to Needham Bank's Core Values (Focus on Customer Relationship, Embrace Change, Work as a Team, Be an Asset to Your Community, Always Learn, and Do the Right Thing).
Experience and Skills
EDUCATION & EXPERIENCE
- Bachelor's Degree in Business or related field including Accounting coursework.
- In-depth progressive experience in commercial lending with a minimum of 5 years extensive experience in areas such as collections, bankruptcy, foreclosure, and loan workout
- Familiar with a variety of the field's concepts, practices, and procedures. Relies on extensive experience and judgment to plan and accomplish goals.
WORKING CONDITIONS/PHYSICAL DEMANDS
- Normal business office environment; hybrid schedule.
Needham Bank offers a competitive salary and an amazing benefit package for a full-time employee which includes fully paid medical and dental insurance, HRA, 401(k) plan with an 8% bank match, paid time off (PTO), paid holidays, a bonus program, flexible spending accounts, vision service plan, group term life insurance, short and long term disability insurance, tuition reimbursement, and an Employee Assistance Program. We offer a great benefit package to our eligible part-time employees as well.
At NB, we are dedicated to building a diverse, inclusive and authentic workplace - if you are excited about this role, but your past experience doesn't align perfectly with every qualification in the job description, we still encourage you to apply. You may be just the right candidate for this or other roles.
Needham Bank is an Equal Opportunity/Affirmative Action Employer. Needham Bank will provide all applicants for employment and all employees with equal opportunity for employment and promotion regardless of race, color, religion, gender, national origin or ancestry, age, disability, veteran status, military service, sexual orientation, genetic information, or gender identity.