SVP & SAD Manager

At Open Bank, we pride ourselves on being different and OPEN to new ideas and opportunities for our clients and employees.

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Job Title: SVP & SAD Manager
Department: Special Assets

We are looking for SVP & SAD Manager to join Special Assets team. The Special Assets Department ("SAD") Manager will be responsible for managing the special assets portfolio and the team with a focus on the mitigation of losses for the Bank. Responsibilities include analyzing financial plans, negotiating loan collection, or restructuring, and recommending/overseeing litigation, liquidation, or charge-off of loans.

Key Responsibilities:

• Develop strategies for resolving classified (special asset) loans to minimize losses on the current loan portfolio.
• Develop strategies for resolving classified (special asset) loans to minimize losses on the current loan portfolio.
• Analyze financial plans, negotiate loan collections or restructuring, and make recommendations, oversee litigation, liquidation, and charge-off of loans.
• Provide leadership and oversee a team for monitoring and managing non-pass rated borrowing relationships.
• Work closely with lending units to develop effective controls and processes for measuring, monitoring, and controlling risks.
• Review and prepare special assets reports for senior management and any additional requested reports.
• Interact with borrowers to discuss their financial difficulties and negotiate repayment plans.
• Collaborate with legal counsels, collection agencies, and external partners to enforce loan recovery efforts.

Requirements/Qualifications:

• Bachelor's degree in business, finance, or accounting, or equivalent, relevant work experience
• A minimum of seven years of experience in commercial/business banking, underwriting, lending, credit risk management, or a related field
• Expert knowledge of the real estate field, including appraisals, deeds and lien recording.
• Organizational ability with strong supervisory and management skills.
• Exhibit a professional, businesslike appearance and demeanor.
• Excellent written and oral communication skills; ability to communicate effectively and project a professional image when giving and taking information in writing, in person, and over the phone.
• Ability to respond effectively to the most sensitive inquiries or customer complaints.
• Ability to make effective and persuasive speeches and presentations on controversial or complex topics to top management, employees, regulators, or board members.
• Ability to analyze and organize financial information and perform complex financial calculations.
• Accurate typing/keyboarding skills; basic computer skills, including the use of word processing, spreadsheet software applications, and e-mail. Ability to retain a broad knowledge of tasks performed in the lending functions.

Employee Benefits & Perks

• Medical, Dental, & Vision: Open Bank offers medical, dental, and vision insurance for all full-time employees and their immediate family members. Employees become eligible for insurance benefits on the first of the month following their hire date.
• Life, Accidental Death & Dismemberment, & Long-Term Disability: Open Bank pays 100% of the cost.
• Flexible Spending Account (FSA): Tax-advantaged financial accounts are offered for employees to pay for eligible out-of-pocket expenses (health, dependent care, transit, and parking) with pre-tax dollars.
• 401(k) Retirement Savings Plan: Open Bank matches 100% of the first 6% of employees' contributions. Employees are eligible to participate on the first of the month following 90 days of employment.
• Paid Time Off (PTO): Employees begin to accrue PTO hours at the time of hire to use for vacation, illness, or other personal reasons.
• Employee Assistance Program (EAP): The EAP offers counseling sessions, online tools and resources, and legal and financial guidance for employees and their family.
• Company Paid Lunch: Open Bank provides company paid lunch twice a week.

To view current job openings, please visit Open Bank Careers Page: https://myopenbank.com/about/#