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Special Assets Manager
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- The Special Assets Manager primarily works with borrowers who exhibit indications of potential financial difficulties with the objective of rehabilitation/retention of business relationships.
- Builds and maintains open communication with assigned banks to ensure assigned loan portfolio is effectively managed from a market perspective, to ensure potential problem loans are detected early and to facilitate the involvement of, or transfer to, Special Assets when appropriate.
- Analyzes, develops and monitors overall resolution strategy on assigned credit relationships to include rehabilitation/turnaround, liquidation, pre-bankruptcy planning and litigation.
- Immediately upon downgrade to substandard, provides direction and assistance to the lender to insure that the action steps are taken promptly, adjustments to the plan are made when necessary as each of the steps is completed and, in conjunction with the Special Assets Director and Bank President/Senior Lender, determines appropriateness of transfer to Special Assets.
- Keeps bank management, the Special Assets Director, the assigned Credit Officer, Loan Review, and the Chief Credit Officer informed of the action plans and any significant events.
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