Special Asset Officer - Military veterans preferred

Description:

The Farmers Bank is locally owned and operated with ten full-service financial centers located in Central Indiana providing retail, business, trust and asset management, investment, mortgage and electronic banking services. With over 150 years of community banking expertise, we take pride in being an active part of the communities we serve. The Farmers Bank delivers on our commitment to serving our customers by ensuring we have the right people in the right seats here at the bank. We continue to expand our footprint, and in doing so, need talented employees to help us make that happen. Let's Grow!

Our Special Asset Officer manages all aspects of the Commercial Loan collection and workout process. Serve as Chair of the Criticized Asset Committee. Assist in the development of effective and proactive collection procedures. Work with Commercial Banking Officers in identifying loans with an unacceptable risk of loss to The Farmers Bank.

Responsibilities:

1. Commercial Special Asset Management

· Develop and execute strategies for the Commercial Loan collection and workout activities; manage and document these activities.

· Maintain correspondence of collection efforts and their results.

· Maintain OREO properties resulting from commercial defaults and from consumer defaults (as needed).

· Assist in a commercially reasonable fashion the management and disposition of repossessed/foreclosed loan collateral (OREO) to maximize the bank's return.

· Work with legal counsel once collection actions have been initiated and be prepared to represent The Farmers Bank in bankruptcy and other collections actions.

· Assist legal counsel with the collection action for any deficit balances after bank collateral is liquidated.

· Monitor and track judgments and their results, including wage garnishments.

· Meet with the SVP/CCO and Chief Banking Officer regularly to discuss the status and progress on criticized assets.

· Review the grades on commercial credit exposure and assist in any changes that are needed in order to maintain a proper grade.

2. Special Asset & Credit Team Development

· Supervise other members of the team, specifically the Retail Credit Manager and Credit/Collections Specialist

· Assist in the periodic review and further development of credit department procedures.

3. CAC Chair & Member of LRC

· Act as Chair of the Criticized Asset Committee: prepare agenda, choose CBOs who are still managing certain criticized assets, and recommend grade changes on credits discussed.

· Preside over all aspects of preparing quarterly FAS 114 reports for classified credits.

· Execute or assist in the execution of FAS 114 action plans.

· Attend and contribute as a voting member in the quarterly Loan Review Committee.

1. Loan Committees

· Review Director Loan Committee reports and packets and attend DLC as needed.

· Review Senior Loan Committee and Officer Loan Committee reports and packets, and actively attend SLC and OLC.

2. Other duties as assigned.

Competencies Required

1. Analytical Skills: ability to gather and analyze information and problem-solve to reach a meaningful conclusion

? Ability to understand the issues being raised and offer direction

? Seek to comprehend the data being presented and the ‘why' behind the process

2. Leadership: ability to understand processes and peoples' abilities and motivations, and to leverage them to help achieve a goal

? Set a positive example for members of our team and for all members of TFB

? Make decision with primary focuses being the maintaining of the assets of the Bank

3. Accountability: willingly accept responsibility for your actions

? Be able to properly hold yourself and hold others accountable for their actions

? Be willing to be part of a culture where accountability is an essential tool

4. Customer Relations: ability to professionally interact with external and internal clients

? Shown ability to discuss with customers any issues that exist with their loan account(s) regardless of the situation

? Shown ability to interact in a proper and professional manner with third parties and external customers in order to maintain our relationships while protecting the assets of the Bank

? Ability to use multiple avenues in order to communicate with internal/external clients and third parties

5. Teamwork & Cooperation: works well with others during conversations, projects, meetings or other collaborations

? Accept responsibility for the performance of the team

? Communicate in a clear, personable, professional manner

? Maintain an awareness of team dynamics and act to improve the team's performance

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