Special Assets Officer in Norwalk, Connecticut at Mitsubishi HC Capital America Inc

Position Overview:

Special Assets Officer working under the direction of the Credit Division to develop and implement strategies for loans and leases considered Special Assets or workout accounts. This individual will be responsible for working with customers to achieve the desired resolution to mitigate risk and maximize recovery to Mitsubishi HC Capital America, Inc. (MHCA). The key area of focus for this role is managing and restructuring distressed accounts loan workout activities for multiple loan segments. Their primary goal is to minimize potential losses by developing and implementing effective recovery strategies. This position will collaborate closely with the portfolio team, Chief Credit Officer, and underwriting team to maintain acceptable credit loss exposure, credit quality goals and overall organizational risk strategy. 

Commitment to Internal Control:

Incumbent must understand, abide, and uphold system of internal controls related to the essential duties of the position.

Essential Duties and Responsibilities:

Strategy and Oversight

• Develop strategies to minimize losses on special asset loans.
• Oversee and recommend liquidation or charge-off of loans.
• Monitor and track the progress of restructured loans to ensure adherence to new terms.

Client and Loan Management

• Negotiate loan collection and restructuring directly with clients.
• Conduct site visits and meetings with borrowers to assess financial situations.
• Build relationships with borrowers and internal/external partners.

Collaboration and Coordination

• Work directly with credit and portfolio management teams to manage non-pass rated loans.
• Collaborate with legal teams to ensure compliance with regulatory requirements during workouts.
• Engage with external professionals (attorneys, appraisers, auditors, collection firms, financial advisors) to enhance recovery strategies.

Analysis and Assessment

• Review problem assets and identify possible workout or exit strategies, including identifying and obtaining additional security and/or guarantees to reduce potential loss.
• Analyze troubled accounts, assess borrower finances and collateral value, and develop recovery strategies.
• Understand financial capacity of clients by reviewing industry financial statements.
• Build, review, and update 13-week cash flows and liquidation models to evaluate liquidity and exit scenarios.
• Collaborate with Accounting and portfolio management to recommend appropriate specific reserves where necessary.

Legal and Compliance

• Perform detailed reviews of legal files to determine lender rights.
• Ensure compliance with all regulatory requirements during loan workouts and adjust strategy for changing economic and regulatory environments.

Portfolio Management

• Manage distressed commercial loans, leases, and asset-based lending (ABL) accounts.
• Oversee restructuring and recovery efforts.

Reporting and Communication

• Prepare reports and track restructured accounts.
• Stay updated on relevant regulations.
• Confidently communicate and negotiate loan terms with borrowers to facilitate restructuring and workout plans.

Key Performance Indicators:

• Coordinate workout and recovery efforts with internal team members and external resources such as legal counsel, auditors and appraisers.
• Maintain acceptable credit loss exposure.

• Provide consistent review and reporting on distressed credit, including reports to senior management and ICD where applicable.

Responsibility and Decision-Making Authority:

• Credit assessment, structure, and transaction communication within company prepared guidelines.
• Credit signature authority in accordance with established credit policy guidelines.
• Mitigate loan loss to acceptable levels.

Qualifications/Competencies Knowledge, Skills, and Abilities:

• Proficient in commercial lending, including leases, and senior secured loan underwriting, structuring, and documentation.
• Skilled in analyzing financial statements and assessing credit risk.
• Deep understanding of loan structures and risk evaluation.
• Strong problem-solving and analytical abilities; effective across all organizational levels.
• Creative thinker with solid negotiation and sound decision-making skills.
• Experienced with financial software tools.
• Excellent communication, organization, and interpersonal skills.
• Capable of managing tight deadlines and multiple complex recovery cases simultaneously.
• Adept at handling detailed internal reporting requirements.

 Education and Experience:

• BS in Accounting, Finance or Economics or equivalent experience.

• Minimum of (8) eight years’ experience in complex, multi-business segment credit based lending.
• Minimum one (1) year experience in commercial workout or collection.
• Experience with distressed portfolios and knowledge of recovery regulations.

Licensing and Certification:

• N/A

Working Hours:  

• Hours may vary and will require evening work depending on business needs; it may require working more than 40 hours / week depending on business needs.

Travel:  

• Occasional travel to MHCA headquarters, client visits, and industry conferences.

Physical Demands:

• Digital dexterity and hand/eye coordination in operation of office equipment.
• Light lifting and carrying supplies, files, etc.
• Ability to speak to and hear customers and/or other employees via phone or in person.
• Body motor skills are sufficient to enable incumbent to move from one office location to another.

The job description does not constitute an employment contract, implied or otherwise, other than an “at will” relationship and is subject to change by the employer as the needs of the employer and requirements of the job change.

The position is exempt and the salary will be between $137,000 and $160,600 with an opportunity to earn a discretionary annual bonus.

The salary range is determined and based on internal equity, market data/ranges, applicant's skills, prior relevant experience and education.

Additional benefits:

- Medical, Dental, and vision plans

- 401(k) and matching

- Paid Time Off

- Company Paid Life Insurance

- Employee Assistance Program

- Training and Development Opportunities

- Employee Discounts