VP Special Assets Manager
Position Number: VP Special A
Location: Corporate Headquarters San Jose
The VP, Special Assets Manager is responsible for managing and directing a staff in the restructuring of problem consumer, real estate, commercial and corporate banking loans. The scope encompasses management of the loss mitigation function, including; collection activity on delinquent consumer/corporate loan accounts, charged-off loans, residential real estate loans, commercial loans and the disposition of real estate owned properties acquired through the foreclosure process. The incumbent is responsible for the prompt resolution of delinquent accounts to minimize Tech CU's non-performing assets. The incumbent will operate under the Credit Union’s policy and procedures and regulatory guidelines in support of institutional requirements for safe and sound lending products and services.
Oversees the entire operations of the Special Assets function in accordance with Credit Union laws and regulations, Board of Directors' policies, and the Credit Union's philosophies, policies, plans, and procedures.
Develops, coordinates, and administers loss mitigation strategy to minimize credit losses in all loan areas (consumer, real estate, commercial and corporate banking).
Develops collection strategies to enhance collection effectiveness and employee productivity.
Performs analysis on delinquency trends and projections.
Monitors and reports on the department’s performance against operational goals and objectives.
Recommends accounts for charge-off. Prepares monthly reports for the Board of Directors, ALLL Committee, and for management.
Keeps current with regulatory changes and economic trends related to the industry by a variety of common/acceptable methods. Ensures regulatory compliance with the following:
Charged off loans
Revision agreement requests
Lien sale notices
Real Estate foreclosures
Investor guidelines (Fannie Mae and Freddie Mac)
Home Affordable Modification Program
Responds to inquiries or correspondence from attorneys or other law enforcement agencies and represents the Credit Union when necessary.
Will conduct site visitations, which may include inspections of residential and commercial properties.
Develops working relationships with Contractors, Vendors, and Internal Customers to ensure OREO properties are maintained to the highest standards.
Directs activities of the unit to ensure effective management and maintenance of all assigned accounts; including compliance with all environmental and regulatory requirements.
Ensures that appropriate technology is in place to support department operations.
Manages third party business relationships.
Administers Department policies, procedures, and activities, in the execution of position responsibilities.
Trains and guides staff on department policies and procedures, and collection techniques.
Directs/develops the preparation and maintenance of special assets reports and completes projects relating to Credit Administration initiatives.
Analyzes delinquency trends and implements appropriate strategies.
Establish department’s performance goals and metrics, and monitors/reports on both.
Reviews and monitors recoveries from associated collection agencies or equivalent.
Participates in organizational committees, teams, and task forces as assigned.
Sales and Service
Provides support to the sales and service activities of the Credit Union.
Provides input in the development of new product/service programs and operating procedures to broaden/better serve the membership base, to promote the increased use/value of member services and products, and to maximize the financial results for the Credit Union and its members.
Promotes the TechCU image and philosophy.
Attends presentations and various financial industry conferences, as appropriate.
Establishes scope of authority and responsibility for direct reports.
Engages with direct reports and peers to align goals, establish performance metrics, provide feedback and develop talent.
Develops and manages annual budget to maximize cost effective operations for the department.
Reviews and responds to concerns raised about the Department identified in audit/regulatory reports.
Supports established policy & procedures; recommending changes as needed.
Supports the Credit Union’s Mission & Vision and Lives the Tech CU Values (Accelerate, Collaborate, Innovate, & Cultivate).
Meets on a monthly basis with manager to discuss goal alignment, performance metrics, and development plans.
Adheres to Policy & Procedure put forth in employee handbook; upholds employee Code of Conduct/Ethics, and ensures confidentiality of the workplace.
The employee will comply with all rules and regulations as defined by applicable regulatory agencies. The employee will also adhere to all internal controls and security measures designed to ensure regulatory compliance with State and Federal laws
Typically has at minimum:
Education: BA/BS degree, or equivalent, in a related discipline is desired.
Experience: 6-8 years’ experience in Special Assets total; including 3-4 years’ solid experience in both consumer and consumer real estate credit. Must have 3-4 years’ increasingly responsible management experience.
• Strong managerial, communications, and business-writing skills.
• Good knowledge of the law related to Special Assets collections processes.
• Ability to document simple to complex loan work-outs.
• Should possess strong knowledge of state/local collection rules, regulations and procedures.
• Understanding of loan products features including consumer, real estate, and commercial.
• Solid proficiency in Microsoft Word and Excel.
• Must have a dedication to accuracy and attention to detail. Should be well organized.
• Must possess excellent interpersonal skills.
Travel: Holds a valid California Drivers’ License. Possess current automobile insurance. Willingness to travel and/or drive one’s own auto to conduct Credit Union business. Applicable IRS mileage reimbursement rate will be provided for business/credit union approved business travel.
Ability to sit 85% of the day. Keyboard and read computer screen for 70% of time during which one is seated.
Starting Pay Range: