VP / SVP Special Assets

Position Overview

The Vice President / Senior Vice President, Special Assets oversees a Commercial credit portfolio of distressed and underperforming loans and is responsible for oversight of the risk management and loss mitigation within that portfolio.  Develops Workout strategies and may involve Commercial Bankers on strategy execution. This role’s primary objective is early identification of distressed loans, development and execution of strategy for recovery and loss mitigation.

This is a senior role that reports to the Chief Credit Officer and regularly engages with Commercial Group Heads. 

Essential Job Functions

• Evaluates and proposes credit risk ratings within assigned loan portfolio; develops action plans, and tracks results. 
• Recommends risk rating upgrades or downgrades as appropriate.
• Oversees the critical monitoring of credit risk and devises strategy and execution toward mitigation and resolution before deterioration accelerates. 
• Follows Credit risk policy in the application of loss mitigation and/or performs collections on loans in compliance with credit policies.
• Develops workout strategies; considers borrower’s repayment ability, collateral condition and value, and guarantor support.
• Leverages and collaborates with business partners in Commercial Banking, Loan Operations, Legal, and Credit to support credit risk mitigation.
• Serves as critical control for ensuring only acceptable risk levels are undertaken when assessing credits.
• May serve in early due diligence of credit portfolio of acquisition banks.
• Manages and/or delegates special projects assigned by the Chief Credit Officer or Commercial Banking Department Head.

Minimum Requirements 

• Bachelor’s degree in Business, Finance, Accounting, or related field and seven or more years of progressive credit experience with increasing responsibility or equivalent combination of education and experience.
• Broad based knowledge of credits including C&I, CRE, Sponsored Finance healthcare, leasing, or small business
• Previous experience in loan workout, managed assets, OREO management, collections and/or risk monitoring.
• Experience working with a distressed portfolio of various size.
• Previous managerial experience working with leadership at all levels including executive management.

Competencies

• Strong understanding of financial statements, loan structuring, and credit risk
• Excellent communication skills (verbal/written.)
• Excellent management and data organization skills.
• Hybrid or remote work arrangement.  Some local travel as needed.

Preferred, but not required:

• MBA

This position is considered a hybrid role.  With management approval, an incumbent may work a combination of remote and onsite work to perform the regular responsibilities of the role.  Opportunity for an onsite location at the Downers Grove, Chicago (Wacker) or Aurora offices.  Actual schedule requirements may vary based upon business needs.

Job levels (VP/SVP) and hiring decisions are based upon both the business needs of the Special Assets team and the qualifications of the incumbent.