GreenState Credit Union · 4 days ago
VP Special Assets
North Liberty, IA
Full-time
Onsite
Senior Level, Lead/Staff
10+ years expGreenState Credit Union is seeking a VP Special Assets who will manage and oversee a portfolio of high-risk and non-performing loans. This leadership role involves developing strategic action plans, negotiating loan workouts, and ensuring regulatory compliance to mitigate credit losses and maximize recoveries for the credit union.
BankingFinanceFinancial Services
Responsibilities
Adheres to the Credit Union's core values and Service Standards in conducting GreenState's mission and vision
Demonstrates a positive member service (internal and external) focus at all times
Demonstrates teamwork in all interactions with coworkers and in the completion of all duties and responsibilities
Ensures confidentiality of member information
Supports a diverse and inclusive work environment
Portfolio Management & Strategy: Formulate and implement workout strategies, including loan modifications, restructurings, forbearance agreements, and liquidation where necessary, to minimize loss exposure
Negotiation & Communication: Lead negotiations with debtors, borrowers, and guarantors to secure payment arrangements and resolve complex credit situations. Act as a primary liaison with external and internal legal counsel, auditors, and third-party vendors (e.g., collection agencies, appraisers, property managers, legal firms)
Financial Analysis & Documentation: Conduct comprehensive financial statement and cash flow analyses, monitor collateral adequacy, and review all relevant loan and legal documentation to ensure accuracy and compliance
Compliance & Reporting: Ensure strict adherence to internal policies, procedures, and relevant state and federal regulations. Prepare detailed reports and presentations on portfolio performance, risk analysis, and recovery efforts for executive management, the Board of Directors, and regulators
Leadership & Collaboration: Oversee and mentor special assets teams, providing coaching and training to foster a productive and knowledgeable department. Collaborate with cross-functional teams, including Lending, Finance and Credit Administration to identify early warning signs of credit deterioration and improve overall processes
Qualification
Required
Bachelor's degree in Finance, Accounting, Business Administration, or a related field
Minimum of 10+ years of commercial banking or related experience, with a proven track record in special assets, credit risk, and/or portfolio management
Minimum of 5+ years of management experience
Expert knowledge of commercial lending, underwriting, loan structures, and credit risk management principles
In-depth knowledge of financial and legal processes related to default, foreclosure, bankruptcy, and asset recovery
Exceptional negotiation, analytical, and problem-solving skills, with a focus on data-driven decision-making
Strong verbal and written communication skills, with the ability to present complex information clearly to senior audiences
Proven leadership skills, including the ability to manage and motivate a team in a demanding environment
Proficiency in Microsoft Office applications and relevant banking/CRM software
Experience in restructuring commercial loans, distressed asset management, and non-performing loan workouts
Ability to develop and maintain departmental policies, procedures, training and monitoring
Preferred
Experience working for a large financial institution
Benefits
Progressive benefit package
Company
GreenState Credit Union
GreenState Credit Union is a financial services company that specializes in online banking.
501-1000 employees
Funding
Current Stage
Late StageTotal Funding
$100M2023-02-15Debt Financing· $100M
Leadership Team
Vikram Israni
CEO
Jenn Bleil
Chief People Officer
Recent News
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