Careers: Special Asset Officer
Builders Capital provides a comprehensive range of loan products to builders, developers, and investors across the country, we strive to be a builders most valued relationship. Our willingness to think creatively with loan terms, aggressive rates, agile in-house servicing team, speed to fund, and technology help set us apart from others. Builders Capital is the leading private equity construction lender, out loans help to create quality housing in a market at five million home deficits.
Builders Capital offers a suite of loan products to builders and developers that is second to none. Our ability to think creatively with deal structure agile in-house operations and servicing teams, speed to fund, and technology suite help set us apart from others.
We are seeking a Special Asset Officer for this remote role. Must be an analytical, organized, team-focused individual with excellent verbal and written communication skills. This individual will be responsible for managing and completing in-depth analysis of troubled commercial real estate loans, as well as making recommendations based on such analysis.
Primary responsibilities include working with our Servicing and Legal teams closely to get a good handle on deals that may be in default soon or in default.
- Responsible for the servicing and managing all aspects of the problem loan portfolio, including but not limited to, pre-work out loans, downgraded loan, workout loans, prepared and updating Impairment Analysis, loans in legal proceeding, etc. to minimize BC’s loss and liability associated with the loans assigned.
- Under the direction of our Principals, Executive team, and the SAG Director, the Special Asset Officer is responsible for managing and resolving a portfolio of special assets through rehabilitation, exit, or liquidation, as well as oversight responsibilities for past dues, overdrafts, and covenant enforcement.
- The Special Asset Officer is responsible for developing strategies for workout credits with varying and evolving degrees of aggressiveness commensurate with the situation.
- Responsible to complete the periodic analysis for problem loans assigned. Through the in-depth analysis, Special Asset Officer identifies and recommends to senior management all relevant and available lending options and strategies for the problem credit assigned.
- The available strategies includes, but is not limited to, loan restructuring, liquidation of collateral, pursuing legal action receivership through coordination with the Legal Department, pursuing guaranties, foreclosures, deed in lieu, REO, etc.
- Calculate and recommend impairment and charge off amount in accordance with GAAP, BC Policy, and federal regulations.
- Makes policy and procedure recommendations to senior management as it relates to problem loans, impairment analysis and workouts.
- Responsible for all aspects of managing, maintaining and liquidating REO property at a complex level for multiple property types.
- Assists senior management in evaluating collateral, loan documentation and financial information to determine BC’s position in current economic conditions.
- Responsible for restructuring and reducing problem assets at the lowest possible cost and risk, taking into account net credit losses, the cost of carrying non-performing assets and administrative costs.
- Present Workout strategy recommendations based on the analysis to management for approval.
- Responsible for minimizing risk in the portfolio by (1) rehabilitating relationships so that problem assets may be restored to a satisfactory condition/servicing and (2) executing an exit strategy for problem assets that have no prospects for improvement. The analysis will include: assigning appropriate risk rating and accrual status on all problem loans, updating Problem Loan List reporting, and supporting Watch List reporting to help BC anticipate any problem loans, and preparing impairment analysis to help management determine reserve levels.
- Independently and accurately complete periodic Reporting, including PLR’s or any other credit risk analysis reports encompassing trend analysis, ability to repay, collateral coverage, known and potential risks, mitigation factors, and exit strategies, if applicable.
- Understands and stays abreast of changes to BC’s Policy, Procedures, laws, and regulation applicable to area of responsibility.
- Performs collateral evaluation, verifies asset valuations, performs asset verification, investigate credit history, and evaluates personal and business assets within BC’s policy and procedure as well as applicable federal laws.
- Verify all financial spreads are accurate, no discrepancies in third party reports, notate any issues that may impact the credit and make recommend changes to accurately assess a credit’s risk profile.
- Maintains current knowledge of general economic conditions or changing trends that may affect BC’s assets.
- Other duties as assigned to achieve the goals of the department and BC.
- Bachelor’s degree in finance, Commercial Real Estate, or related field.
- 10+ years of real estate finance experience is required; an equivalent combination of education and experience may be considered.
- 5+ years of working with distressed construction projects.
- Excellent communication and people skills, with proven ability to build and maintain relationship with stakeholders.
- Strong analytical and critical thinking skills, with a history of making data-driven decisions.
- An initiative-taker with a strong attention to detail and good organizational skills.
- Able to meet deadlines and can work through any problems that might arise.
- A critical thinker that can work independently or as a team.
- Willing to assume duties and projects to further the goals of the company.
- Competitive salary.
- Work Life Balance.
- Paid Time Off.
- Paid Holidays.
- Health Insurance: Builders pays 100% of employee medical insurance premiums.
- Health Reimbursement Account (HRA).
Salary for this position is $150,000 – $185,000 annual commensurate with experience and education.
This job posting highlights the most critical responsibilities and requirements of the job; however, there may be additional duties, responsibilities, and qualifications for this job.
Construction Loan Services II, LLC. (Builders Capital) and its affiliates are Equal Employment Opportunity (EEO) employers and welcome all qualified applicants. This is a full-time exempt position. The job description contained herein is not intended to be a comprehensive list of duties and responsibilities of this position, which may change without notice.