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Special Assets Officer

Company: Farm Credit Council
Location: Austin
Posted on: April 3, 2024

Job Description:

Who we are:


Farm Credit Bank of Texas is a $36.9 billion wholesale bank that has been financing agriculture and rural America for over 100 years. Headquartered in Austin, Texas, we provide funding and services to rural lending associations in five states, and we are active in the nation's capital markets.





While you may not be familiar with our name, Farm Credit Bank of Texas plays a critical role in supporting the businesses that make it possible for America to maintain access to an affordable and safe food supply, an industry which is one of the most innovative and evolving of our time. And while you help us deliver on our mission, we deliver on our commitment to you as a valued employee by providing competitive compensation, generous health and wellness benefits packages and an attractive hybrid workplace located along the bluffs of the Colorado River just minutes west of downtown Austin. We seek out top talent in their fields, whether it be technolo gy, finance, accounting, credit, human resources, or other administrative functions, and welcome you to join us in our mission to feed the world.





Position Description:


We are searching for a Special Assets Officer. The Special Assets Officer is responsible for managing the bank's problem loan asset portfolio with a goal of minimizing loan losses, reducing nonperforming assets and maintaining compliance with bank and regulatory requirements. The Special Asset Officer must have the ability to assess, analyze and recommend the best course of action in difficult credit situations. The incumbent will work with Senior Management, legal counsel, peer banks, and clients to resolve troubled loans.





Day-to Day-Duties and Responsibilities:


Working in our hybrid work design you will:


- Monitor and manage troubled loans within the bank's portfolio and develop and implement strategies to mitigate risk and maximize recovery.


- Effectively analy ze assigned loan portfolio, including loan documentation review, collateral evaluation, and financial condition assessment.


- Complete reporting, including quarterly reserve analysis on assigned portfolio.


- Prepare and present reports on the status of troubled loans to senior management.


- Conduct thorough analysis of total loan portfolio to identify potential risks and develop appropriate action plans.


- Collaborates with administrative agents, peer banks, outside legal counsel, the client, and other parties as needed to ensure timely and accurate resolution of troubled loans.


- Communicate and collaborate with sub participants.


- Represent the bank in legal proceedings and negotiations related to troubled loans.


- Communicate regularly with borrowers to assess their financial situation and negotiate repayment plans.


- Conduct site visits and inspections to assess collateral and property conditions.


- Stay informed on industry and regulatory guidelines related to special assets management, particularly related to Farm Credit requirements.


- Maintain accurate and organized documentation of all actions and communications related to troubled loans.


- Continuously evaluate and improve processes and procedures related to special assets management.


- Negotiate with borrowers and others in a manner consistent with overall strategy while maintaining objectivity and professionalism.





What You Bring to the Team:


Our ideal candidate lives within a commutable distance from our office and appreciates the value of the hybrid work design.





It's an important role that covers many skills. This position requires:


Bachelor's Degree in finance, business administration or other related business field or commensurate experience. Ten or more (10+) years' experience in all facets of lending including the marketing, extension, administration, and analysis of commercial credit with at least seven or more (7+) years' experience in the management of troubled loans and distressed asset workout and recovery. This role requires a deep understanding of credit analysis, with strong analytical and problem-solving skills, and a knowledge of bankruptcy laws and related legal proceedings; as well as, strong oral, written communication, and negotiation skills.





Demonstrate good judgment, interpersonal skills, and the ability to work within deadlines and under pressure are essential. Accuracy in maintaining records and files is essential. Knowledge of Microsoft Office is required. This position requires skill and knowledge in credit administration, financial analysis, the use of various loan analysis software programs, accounting standards, credit policies, and procedures, as well as program and product development. A thorough knowledge of financial statement analysis, forecasting analysis, cash flow analysis, collateral analysis a nd payment performance in the areas of mortgage and commercial lending. Knowledgeable on credit and accounting standards, real estate appraisals, product and service marketing techniques and programs. Must be able to accurately identify, measure and manage risk in loans, loan portfolios and direct loans. This position will require time management skills with travel up to 10 percent.





Our benefits:


In addition to a competitive salary, we offer comprehensive, affordable, and competitive benefit options that are focused on health and wellness, financial security, and achieving a work-life balance:





- Flexible and affordable health and wellness benefits, including medical insurance, prescription drug coverage, dental insurance, vision care, flexible spending accounts, and more.


- 401(k) plan that includes an employer match (up to 4%) plus an additional employer contribution (up to 5%), both of which vest on the first day of employment


- Employer p aid long-term disability and life insurance


- Generous vacation leave, sick leave, and up to eleven paid holidays


- Paid parental leave program of up to six weeks


- Up to five days per year to volunteer in local community organizations, services, or events


- Ongoing professional development opportunities


- Generous tuition-reimbursement program


- Physical fitness incentive plan


- Employer matching gifts program


- Modern hybrid work schedule combining in office and remote work locations.





Our culture:


In a world filled with unpredictable challenges, we invest in our people and ensure they have dependable careers with ample growth opportunities. As part of the larger Farm Credit System, we focus on building our culture around personal relationships and the ability to be connected to leadership through in-person conversations, regular town halls and employee engagement events. We are deeply committed to attracting and fos tering a diverse workforce, development and career advancement and recognizing the hard work of individuals who contribute to our success.





Important note: We care about your hiring process and take it seriously. A real person will review your applications, meaning response timelines may vary. The interviewing process at Farm Credit Bank of Texas may include phone calls and emails, on-site interviews, and requests for portfolios or demonstrations of work. We cannot personally follow-up with each applicant, and we will do our best to create a professional, respectful, and thorough process for candidates with whom we identify as a potential fit.





A/EOE/M/F/D/V

Keywords: Farm Credit Council, Austin , Special Assets Officer, Other , Austin, Texas

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