Special Assets Portfolio Manager - Up to $90K - Newark, NJ - Job # 2215

Special Assets Portfolio Manager – Up to $90K – Newark, NJ – Job # 2215

Who We Are

The Symicor Group is a boutique talent acquisition firm based in Lincolnshire, IL & San Antonio, TX. Our nationally unique value proposition centers around providing the very best available banking and accounting talent. In fact, most of our recruiters are former bankers or accountants themselves!

We know how to evaluate the very best banking and accounting talent available in the market. Whether you are a candidate seeking a new opportunity or a bank or company president trying to fill an essential position, The Symicor Group stands ready to deliver premium results for you.

The Position

Our bank client is seeking to fill a Special Assets Portfolio Manager role in the Newark, NJ market. The successful candidate facilitates and develops action plans for the restructure, litigation, recovery, or exit strategy for downgraded credits to minimize exposure, mitigate risks, and maximize asset recovery.

The position includes a generous salary of up to $90K and an excellent benefits package. (This is not a remote position.)

Special Assets Portfolio Manager responsibilities include:

• Managing a portfolio of adversely rated credit relationships for the purpose of preserving loan principal, collecting interest, and preventing loans from being charged off.
• Monitoring status of the assigned portfolio to ensure compliance with action plans and terms and conditions of agreements.
• Formulating workout strategies/plans and make recommendations to the chief credit officer with supporting data, reasoning, and analysis.
• Reviewing financial statements, perform financial analysis, and monitor collateral; take appropriate remedial action when needed.
• Negotiating specific terms and conditions for substandard/non-performing loans; obtain additional/sufficient assets to collateralize loans, and restructure credit facilities to minimize risk.
• Coordinating the collection of financial statements, collateral valuations, business plans, and general business information to maintain the accuracy and timeliness of customer data and financial condition.
• Keeping informed of industry changes, trends, and best practices, and assess the potential impact on processes and procedures.
• Communicating with people outside the organization on a regular basis including regulators, auditors, customers, and attorneys.
• Maintaining technical and professional knowledge by attending educational workshops and training, and staying informed of any legal, policy, and procedural changes relating to commercial lending.

Who Are You?

You’re someone who wants to influence your own development. You’re looking for an opportunity where you can pursue your interests and your passion. Where a job title is not considered the final definition of who you are, but merely the starting point for your future.

You also bring the following skills and experience:

• Bachelor’s degree in accounting, finance, or business administration.
• Five or more years of experience in commercial loan workout/asset recovery or related fields of expertise.
• Expert knowledge of credit underwriting concepts, financial statement analysis, accounting, and commercial lending policies and practices.
• Strong knowledge of complex loan structuring and workout strategies and techniques.
• Strong negotiation skills, communication skills, oral, and presentation skills.
• High reasoning skills including the ability to define problems, collect data, establish facts, and draw valid conclusions.
• Ability to calculate figures and amounts such as discounts, interest, commissions, and percentages.
• Ability to effectively present information and respond to inquiries from senior management, attorneys, vendors, government agents, and the general public.
• Strong PC skills, with proficiency in Excel and Microsoft Office suite.

The next step is yours. Email us your current resume along with the position you are considering to:

[email protected]