Location: Champaign, Illinois
Type: Full Time
Internal Number: SPECI005664
- Develop collection strategies and action plans for problematic loans.
- Prepare detailed analysis and provide recommendations of the collection and action plans.
- Negotiate with borrowers, attorneys, and companies to review and re-structure credit and repayment terms.
- Implement recovery plans that minimize risk and loss to the bank.
- Provide timely and accurate reporting to Special Assets Manager.
- Interact with the spectrum of commercial bank customers experience financial distress; displaying tact and persuasiveness.
- Interact frequently with lawyers and other outside professionals, both those retained by the Bank and those representing our debtors, setting and pursing the Bank's agenda.
- Seek to minimize out-of-pocket legal and non-legal expenses from debtors whenever possible; maximizes loan recoveries and fee income.
WHAT YOU'LL BRING
- Strong oral and written communication skills
- Commercial, real estate, and consumer lending; particularly credit structure and loan policy
- Complex credits and strong knowledge of collateral valuation/liquidation
- Regulatory agencies, third party loan review, and internal/external auditors
- Legal/regulatory requirements pertaining to banking and collections
- Regulatory guidelines regarding appraisal/re-appraisal and all other regulatory policies affecting classified/criticized assets
- Strong negotiation skills
- Analyze credit and develop and negotiate repayment terms with companies and high net worth individuals
- Work independently and prioritize daily workflow
- Analyze and solve problems for which there are not precedents
- Maintain visual attention and mental concentration for extended periods of time
- Perform duties and make decisions under frequent time pressures
EDUCATION AND TRAINING
- Requires Bachelor's degree in Accounting or Finance or equivalent experience.
- Requires formal credit training.
- Requires 3+ years of direct special assets experience.
- Pursuant to the Secure and Fair Enforcement for Mortgage Licensing Act ("SAFE Act"), all associates (if lending) are required to maintain current registration with the Nationwide Mortgage Licensing System & Registry ("NMLS"). If such registration is not active as of the hire date, the associate must immediately attain active registration upon employment. Personal Bankers who fail to maintain an active and current registration will be unable to lend and may be subject to disciplinary action, up to and including termination of employment.
- Requires knowledge of Microsoft Office.
STANDARDS OF PERFORMANCE
- Customer Service - Adheres to The Busey Promise service standards in order to anticipate and exceed the needs of our customers, both internal and external.
- Functional Knowledge and Technical Skills - Skilled in job-specific knowledge that is necessary to provide the appropriate quantity and quality of work in a timely and efficient manner.
- Accountability - Work behaviors demonstrate responsible personal and professional conduct, which contributes to the overall goals and objectives of Busey.
- Interpersonal Relations (Teamwork) - Interacts effectively with others to establish and maintain smooth working relations.
- Attention to Detail - Working in a conscientious, consistent, and thorough manner.
- Analytical Thinking - Analyzing and synthesizing information to understand issues, identify options, and support sound decision making.
- Written Communication - Communicating ideas and information in writing to ensure that information and messages are understood and have the desired impact.
- Oral Communication - Communicating ideas and information verbally to ensure that information and messages are understood and have the desired impact.
Duties are performed in an office setting and include physical demands such as the manual dexterity and skill to operate standard office equipment. Reasonable accommodations may be made to enable people with disabilities to perform the essential functions of this position.
The above statements are intended to describe the general nature of work being performed by people assigned to this job. They are not intended to be considered an exhaustive list of all responsibilities, duties, and skills of the people so classified.
Busey believes that diversity and inclusion among our teammates is critical to our success as a company, and we seek to recruit, develop and retain the most talented people from a diverse candidate pool.
Equal Opportunity Employment is a priority for Busey and all qualified applicants will receive consideration regardless of race, color, religion, national origin, genetic information, sex (including pregnancy), age, sexual orientation, gender (including gender identity and expression), marital status, military status, veterans status, citizenship status, work authorization status, work disability, order of protection or any other characteristic protected by applicable law or other non-merit based factors.