The Asset Manager position exists to monitor all slow paying and/or delinquent installment and/or mortgage loan accounts and to take necessary action to bring them current in order to protect bank assets, and those sold to investors. The Asset Manager contacts Borrowers to discuss accounts via, phone, email, letters and meetings. Determines if workout options are available to NCB to help determine the best possible resolution options to either minimize loss or maximize the return to NCB or the loan investor. If a workout is feasible, the Asset Manager prepares modification requests for approval. It is also the responsibility of the Asset Manager to manage the process for repossessed assets and recommend offers of sale.
The loan balances generally range from $100,000 to $7 million including secured and unsecured first and second lien term loans and lines of credit for Commercial Loans, Commercial Real Estate, Residential Coop Blanket Mortgages and Homeowner and Condo Associations. Loans are serviced for portfolio and investors, in accordance with Bank policy or through investor servicing policies and procedures.
The Asset Manager position will be responsible for:
1. Loan Collections- 60%
A. Collects delinquent accounts by identifying and notifying delinquent Borrowers. Establishes and approves repayment
schedules with customers by phone, email, in person, or by other means necessary, while complying with appropriate NCB
policy and investor guidelines.
B. Monitors collections efforts by reviewing accounts, entity-level and personal (where appropriate) financial statements and
reports. Proceed with legal action when necessary.
C. Identify delinquent loans that require additional action.
a. Foreclosure or repossession of the collateral
b. Collection activity against guarantors
D. Monitors and updates bankruptcy accounts; works with attorneys and trustees to establish repayment plans and verify the
bank’s assets are secure.
E. Monitors the Matured loan report and contacts the customers accordingly
a. Review Modification Requests to send for approval
b. Submit to Loan servicing for system update
a. Meet goals regarding established benchmarks of Key Risk Indicators (KRI)
i. Days in Workout
ii. Delinquency Totals
iii. Non-Accrual Status
iv. Charge offs /Recoveries
2. Collateral Collection-10%
A. Complete the recovery process, including asset valuation through third party appraisers or consultants, bidding at sale and
B. Manage the assets during the sale process, including payment of bills to third party vendors for property maintenance,
C. Completion of the collateral sale.
3. Reporting- 25%
A. Prepare Watchlist Memos and present Watchlist Memos on a quarterly basis.
B. Prepare Impairment Analysis worksheets on a quarterly basis
C. Complete Annual Reviews for assigned loans.
4. Team Effort- 5%
A. Contributes to team effort by accomplishing special projects as assigned.
Undergraduate degree, in business and/or related work experience preferred. 3-5 years of banking or loan collection experience or the same in a related collection field required. Previous experience in commercial loan and commercial real estate collection experience including collection of real estate mortgages sold in the secondary market (CMBS/Fannie Mae/Freddie Mac). Extensive knowledge of collection and foreclosure laws and regulations. Ability to perform efficiently under pressure.