Description
Join a well-established financial institution with over 150 years of service in the Chicago area. With a growth trajectory that has expanded from a single location to over 50 branches and $6 billion in assets, we are recognized as a Forbes Best-In-State Bank for Illinois. We invite you to be part of our exciting growth journey!
As the Vice President / Senior Vice President of Special Assets, you will manage a portfolio of distressed and underperforming commercial loans, focusing on risk management and loss mitigation. You will develop and execute strategies to recover and manage distressed loans while collaborating closely with commercial bankers and reporting directly to the Chief Credit Officer.
Key Responsibilities
- Assess and propose credit risk ratings for your assigned portfolio, creating action plans and tracking outcomes.
- Recommend appropriate risk rating adjustments.
- Monitor credit risk critically and develop strategies to mitigate and resolve issues before they escalate.
- Apply loss mitigation practices in line with credit policies and perform collections as needed.
- Create workout strategies based on the borrower's repayment ability, collateral value, and guarantor support.
- Collaborate with partners in Commercial Banking, Loan Operations, Legal, and Credit to support risk mitigation efforts.
- Ensure acceptable risk levels are maintained in credit assessments.
- Participate in early due diligence for acquisitions of credit portfolios.
- Manage or delegate special projects as assigned by the Chief Credit Officer or Commercial Banking Department Head.
Qualifications
- Bachelor's degree in Business, Finance, Accounting, or a related field, with seven or more years of progressive credit experience or equivalent education and experience.
- Comprehensive knowledge of credits, including C&I, CRE, Sponsored Finance, healthcare, leasing, or small business.
- Experience in loan workouts, asset management, OREO management, collections, and risk monitoring.
- Proven experience managing a distressed portfolio and working with leadership at various levels.
- Strong understanding of financial statements, loan structuring, and credit risk.
- Excellent verbal and written communication skills.
- Strong management and data organization skills.
- Hybrid or remote work options available with some local travel as needed.
Preferred Qualifications
This role offers a hybrid work arrangement, allowing for a combination of remote and onsite work. You can work from our Downers Grove, Chicago (Wacker), or Aurora offices, with the actual schedule varying based on business needs.
Thank you for considering this opportunity with us!
Employment Type: Full-Time