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Special Assets

Company: Midland States Bank
Location: Rockford
Posted on: August 16, 2019

Job Description:



Special Assets



Location



Rockford, IL - East State St.



Requisition Number

2705



# of Openings

1




Apply Now







Status:Full time

The primary role for this position is to manage a portfolio of problem assets. This will include; identification of the underlying issues impacting the Borrower, early intervention, formalizing possible solutions and implementation of a structured resolution that will result in minimal loss to the Bank. This role will also be responsible for consulting with Commercial Relationship managers and junior staff members to assist in developing plans that will result in optimal resolutions of problem assets.

Primary Accountabilities


  • Develops plans, and implements practices and procedures to minimize loan charge-offs from adversely graded loans and to return such credits to performing status.

  • Coordinates with tax, legal, audit, credit/loan policy, and regulatory officials at the highest levels.

  • Develops and implements strategies to recover principal from borrowers whose non-performing loans have been charged off.

  • Works closely with legal and other departments to maximize the recovery of such funds.

  • Provides recommendations to executive management relative to structuring and reviewing credits to reduce fundamental weaknesses in company's credit/loan policies.

  • Chapter 13 and 7 Bankruptcy knowledge.

  • Skip tracing experience.

  • Fair debt collections practices act knowledge.

  • Previous experience managing employees.

  • Loan recovery experience.

  • Understands repossession law and procedures.

  • Experience liquidating non Real Estate collateral.

  • Familiar with foreclosure laws and procedures for Judicial and non judicial foreclosures.

  • Experience in creating collection strategies.

    Position Qualifications

    Education:


    • Bachelors Degree or experience equivalency

    • Minimum of 7-10 years banking experience with significant credit/risk experience and/or supervisory capacities.

    • Minimum 5 years commercial loan workout experience.

      Competencies/Other Skills:


      • Leading Employees & Forging Synergy

      • Leading Change

      • Risk-taking, Innovation, Courage

      • Strategic Planning

      • Self-Awareness

      • Embracing Flexibility

      • Global Awareness

      • Inspiring Commitment

      • Recognizing Trade-offs

      • Business Perspective

        Midland States Bancorp, Inc. is an Equal Opportunity/Affirmative Action employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability, gender identity, sexual orientation, protected veteran status, or any other applicable federal or state-protected classification.

        LP123

Keywords: Midland States Bank, Rockford , Special Assets, Accounting, Auditing , Rockford, Illinois

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