This position principally provides support in resolving “problem” commercial loans. Within designated company and department policies and authority levels, develops and implements workout strategies on an assigned portfolio of complex and larger exposure problem loans. The Special Assets Officer (SAO) is responsible for securing the repayment or the restructure of troubled borrower relationships of diverse size and complexity in compliance with all applicable state and federal laws, rules and regulations and Bank lending policies and procedures. In addition, the incumbent provides counseling and other advice concerning problem loans not assigned to the SAO which are being managed by Commercial or Business Banking Relationship Managers. From time to time the SAO may be required to manage the disposition of OREO properties. The incumbent works assigned problem credits by assessing the financial position of the obligors and collateral values; reviewing, and where applicable, strengthening documentation; determining the appropriate strategic direction and timelines and executing the strategy to achieve the desired results. All actions are taken while adhering to personal lending authority and file documentation guidelines. The SAO develops contacts with appropriate external resources to assist in managing the Bank’s level of problem assets down to an acceptable level. Although the focus for the position is on commercial loan resolution, the successful candidate should be familiar with consumer lending and collection guidelines and compliance requirements.

Position Accountabilities

• Manages a portfolio of criticized and classified loans as assigned by the Manager of Special Assets to minimize delinquency and charge-offs.
• Meets with problem loan customers to evaluate the severity of the problem and independently develops recommendations to improve the likelihood of repayment and minimize risk of loss to the Bank.
• Negotiates with debtors or their representatives to secure repayment agreements and monitors adherence to the terms of approved repayment agreements.
• Obtains, manages and disposes of repossessed assets in an efficient and timely manner.
• Ensures the risk rating, accrual status and loan loss provisions of the assigned portfolio accurately reflect the risk of those assets. Ensures that charge offs are recommended on a timely basis.
• Manage bankruptcy and foreclosure processes.
• Provides guidance regarding the early identification, evaluation of and potential strategies for deteriorating loan situations to Collections and lending staff on smaller, non-complex business purpose credits not formally assigned to Special Assets in order to minimize losses and maximize recoveries.
• Communicates and attends meetings with senior level Bank Management and/or Relationship Managers as required.
• Provides quality and timely reporting, or responses to inquiries, as required.
• Adheres to all applicable laws and regulations and maintains compliance with Atlantic Union Bankshares’ Policies and Procedures
• Maintains current knowledge of all laws, regulations, and rulings concerning insolvency, bankruptcy, etc.
• Completes all mandatory training within a timely basis, as instructed.

Organizational Relationship

Reports to the Manager of Special Assets.

Position Qualifications

Education & Experience

• Bachelor’s degree in business, finance or related field.
• Minimum of ten years’ experience in banking with at least five years in commercial banking and/or a credit administration position.

Knowledge & Skills

• Advanced knowledge of commercial lending, loan servicing and credit policy/procedure.
• Advanced knowledge of loan collections and workout, loan processing/documentation and credit analysis.
• Excellent problem-solving and decision-making skills.
• Strong interpersonal and verbal and written communication skills.
• Excellent customer service skills and organization.
• Strong interpersonal and listening skills.
• Decisiveness, results oriented and possesses a willingness to be firm when necessary.
• Ability to work independently as well as within a team environment.

Salary offered will be based on several factors including but not limited to education, work experience, certifications, etc. This position is also eligible to participate in either an applicable incentive compensation plan for the position or a discretionary profit sharing bonus program. General information on our comprehensive benefits package can be found by visiting https://www.atlanticunionbank.com/about/careers/benefits.

We are proud to be an EEO/AA employer, Minority/Female/Disability/Veteran. We maintain a drug-free workplace.