Sr. Special Assets Officer at Mechanics Bancorp in Irvine, CA

Job description

Mechanics Bank is currently searching for a Sr. Special Assets Officer to join our team. Here at Mechanics Bank, we value connection, partnership, long term relationships and working together in person. This role will be based on-site at one of our offices in Irvine, Roseville, or Walnut Creek. Responsible for handling problem commercial loans, which may include C&I and Commercial Real Estate credits. Work with Retail Special Assets group if action is necessary on consumer loans. May oversee REO properties. Primary responsibility is to facilitate the resolution of loans in default or that have other high risk characteristics. What you will do: Work autonomously and with a team to assess issues with problem loans. Independently develop and recommend strategies to resolve the loans. Identify the most cost-effective resolution (retain, exit, liquidate) for loans and REO properties. Underwrite loan modifications, prepare periodic reports for loans in the assigned portfolio. Develop and implements repayment plans for problem loans. Negotiate loan modification terms with clients. Recommend risk rating changes and charge offs. Apply strong deductive thinking skills that support recommendations presented to senior management along with action plans to minimize further credit losses. Primary contact with related third parties in monitoring, servicing, restructuring, collecting, liquidating, and pursuing legal action of problem loan portfolio. Regulatory responsibilities include: 1) adhering to and complying with the applicable, federal and state laws, regulations and guidance; 2) adhering to Bank policies and procedures. Travel Required: 0-10% Who you are: 4 Year / Bachelors Degree preferred. Additional experience may be considered in lieu of degree. 7 years of experience in special assets management including both C&I and CRE loan involved in litigation and bankruptcy required. Knowledge of bankruptcy and litigation processes along with strong negotiating skills are essential. Ability to work effectively with senior management and other internal/external parties. Understanding of risk grading and accounting concepts is required. Strong knowledge of current regulatory requirements for loan restructuring and foreclosure, particularly in California and Washington. Strong interpersonal skills and highly collaborative work style is essential. Excellent communication skills -- written and oral; Strong attention to detail and ability to explain complex situations and resolutions to a broad audience. Strong understanding of credit analysis, administration, policy and procedures. Proficient with Windows suite of programs (Excel, Word, Access, Lotus Notes). ADA Requirements: The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job, the employee is regularly required to sit and talk or hear, and use hands to finger, handle, or feel objects, tools, or controls. The employee is occasionally required to stand; walk; reach with hands and arms; and stoop, kneel, crouch, or crawl. The employee must occasionally lift and/or move up to 10 pounds. Specific vision abilities required by this job include close vision. The noise level in the work environment is usually moderate. #LI-ML1 Pay Range: $130,000 - $175,000 annually AIP Bonus up to 20% Our comprehensive employee benefits program is designed for you to live your best life at work, home, and everywhere in between. Employees working 25 hours or more per week are eligible for health benefits effective the first day of the month following or coinciding with their date of hire. Benefits package includ