Special Assets Manager

First Mid Bank & Trust

paid time off, tuition reimbursement, 401(k)

United States, Illinois, Champaign

Dec 24, 2024

Position:
Special Assets Manager

Location:

Champaign, IL

Job Id:
3911

# of Openings:
0

At First Mid, base salary is one component of our Total Rewards program. Exact compensation is determined by factors such as (but not limited to) education, skills, internal equity, and experience. This position offers additional compensation in the form of short-term incentives (i.e., bonus, incentives, and/or commission). Benefits for this role include comprehensive healthcare, well-being benefits, paid family leave as well as generous paid time off. Total Rewards also include banking perks, tuition reimbursement, an Employee Stock Purchase Plan, and a 401K plan with company match. Incentives and benefits are subject to eligibility requirements.

The Special Assets Manager is a strategic leader responsible for the design and implementation of special assets management at First Mid. This role will lead oversight of the special assets policy, procedures and regulatory compliance and controls; including development and implementation of recovery strategies for problem loans though negotiated modifications, forbearances, managed litigation and collateral liquidation. The Special Assets Manager leads a dynamic team of professionals actively promoting a risk culture that seeks an appropriate balance between risk and reward across the business activities of First Mid and by ensuring business is conducted in a fair and ethical manner.

Responsibilities include, but are not limited to:

Responsible for identifying and minimizing potential losses and maximizing recoveries on all loan portfolios, through the teams' analysis of individual credits and related portfolios and industries, collection activities, developing/negotiating/execution of workout action plans, including proposing loan restructures, managing negotiations and legal actions, evaluating bank collateral and documentation, and recommending alternative solutions as well as judgment/foreclosure litigation, asset liquidation and bankruptcy.
Manages workout/collections portfolio reviews and makes recommendations for approvals where necessary.
Oversees determination and reporting of appropriate risk classification and ratings for problem loans, reserves and charge-offs, and related portfolio and financial statistics.
Attends and participates in the Loan Administration Committee.
Works closely with credit professionals to help identify and mitigate problem assets.
Develops and implements risk management strategy and programs; manages and monitors significant portfolio risks.
Prepares reports for and leads the Special Assets Committee meeting on a monthly basis.
Works effectively and strategically with business leaders balancing business needs with potential risks to mitigate loss.
Makes recommendations and provides workable alternatives to borrowers as appropriate.
Coordinates legal counsel throughout various litigation matters .
Oversees OREO and note sales, seeking to minimize cost and maximize recovery to the Bank in accordance with regulatory requirements.
Manages a team of special asset professionals located throughout the First Mid footprint.
Responsible for all aspects of the team member life cycle, including recruitment, performance and development.
Other duties as assigned.

Qualifications

Education:

Bachelor's degree preferred, but not required.

Experience:

5+ years of experience in commercial lending, workout or relevant experience,
3-5 years management experience,
Knowledge of lending, foreclosure and judgment laws,
Highly skilled in commercial lending workout across product/asset types including commercial loans, inventory/floorplan finance, commercial real estate,
Skilled in remote team management, working knowledge of regulatory requirements for subject portfolios.

Skills:

Ability to gain thorough knowledge of the Company's products and services,
High level of analytical skills to conduct loan analysis and maintain loan's progress in consideration of market trends, credit/interest rates, economic conditions and other factors,
High level of interpersonal skills to interact with internal and external customers and potential customers in a professional manner,
Ability to gain and maintain up to date knowledge of both internal policies and procedures and the respective state and federal laws and regulations governing departmental functions to ensure performance of individual job duties within the proper control environment,
Quarterly travel required; monthly travel on occasion due to business needs.

First Mid Bancshares, 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.

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