At CoBank, The Vice President, Special Assets leads the team in managing the high-risk portfolio, with emphasis on achieving a balance between CoBank’s mission of working with stressed accounts, and the reduction of non-earning assets or those in litigation. The Vice President will contribute to overall bank management through participation in the development of strategic and operating objectives and plans. Coaches, counsels, and develops staff resources to optimize the ultimate resolution of assigned accounts or resulting acquired property, for the benefit of the bank and its customers.
Essential Duties and Responsibilities:
- Manages the Special Assets Group (SAG) through effective organization of resources, a sound functional planning process, consistent policy and procedural direction, and internal controls. SAG works through correction processes, which can include bankruptcy and litigation, restructuring, customer counseling, and liquidation and asset recovery. Focus is directed at balancing CoBank’s mission of working with stressed customers, while minimizing high risk and non-earning assets in accordance with regulations and bank policies, resulting in the greatest net return and best business decision.
- Manages and supports (including recruiting and development) Special Assets relationship managers, analysts, and other staff to actively manage assigned accounts and related assets. Sets performance standards, manages workflow, grants authorities, evaluates performance, and recommends personnel actions within delegated authorities. Consults with Human Resources as appropriate.
- Develops, maintains, monitors, and reports on assigned portfolio, including UCS classifications, risk ratings, and non-performing classifications. Establishes specific loan loss reserves, and identifies loans classified as troubled debt restructurings (TDRs). Develops reports to monitor team account assignments and team efficiency and performance goals, as well as forecasting and business plan development.
- Directs and oversees the execution of plans and strategies for troubled accounts to maximize recovery to the bank and minimize total ultimate loss. Manages stressed account relationships during periods of rehabilitation to fully performing status, and supervises management of stressed accounts that remain under the direct oversight of the bank’s lending groups.
- Leads the Special Assets Team in developing communications strategies and building strong relationships with CoBank leaders, all internal and external customers, lending participants, attorneys, and business consultants.
- Approves credit action under delegated lending and approval authorities, and participates and makes recommendations in CoBank Loan Committee actions.
- Develops and manages internal and external legal counsel relationships and business consultant engagements utilized in the settlement of loans in bankruptcy or litigation.
- Prepares, monitors, and manages budgets for Special Assets and acquired property, and approves related expenses, settlements, and recoveries as appropriate.
- Coordinates with Tax, Legal, Risk Management, and regulatory officials at the highest levels, and prepares and presents reports and recommendations to bank management and the board as necessary.
- Maintains awareness of legislative actions, and area and industry trends and conditions that may affect the bank and its customers.
- Participates in special projects and performs other duties as assigned.
- Bachelor’s degree in business, finance or economics.
- Fifteen (15) or more years of lending experience; or an appropriate combination of education and experience.
- Experience in collection and litigation specific to agribusiness or commercial credit preferred.
- Comprehensive knowledge of commercial lending, banking policies and procedures, Farm Credit System Regulations, financial structuring, loan workout issues, and bankruptcy.
- Strong credit analysis and administration skills.
- Excellent negotiation, presentation, and problem solving skills.
- Strong management and solutions-based problem-solving, decision-making and deal-closing skills.
- Excellent leadership, communication, people management, training and organizational development skills, with a demonstrated ability to motivate in a team-oriented and collaborative work environment, and promote, foster and build a diverse and inclusive workforce.
- Ability to build and maintain effective working relationships with all levels of management, staff, and lending partners.
- Knowledge of Microsoft Office applications (Outlook, Word, PowerPoint, Excel)
- Master’s degree, MBA, and/or CFA designation preferred.
CoBank stands strong as a $125 billion enterprise dedicated to the financial needs of rural communities. That means we help fund new ways to grow food, generate energy, access technology, and otherwise improve life in America. When you choose a career with us, you make a difference by standing for something that matters. A career at CoBank can offer you the opportunity to make a personal impact on the people and communities where we do business. We also provide competitive compensation, health and wellness benefits, company-funded retirement plan, matching 401(k), and professional development programs.
CoBank will not sponsor a work visa (e.g. H1B, etc.) to fill this position.
CoBank is an Equal Opportunity Employer.