This position is responsible for the administration of a portfolio of troubled and/or distressed loans and/or other assets. The Special Assets Administrator works closely with management, lending and coaching staff, and legal counsel to protect NI's interests and ensure compliance with all applicable program requirements, laws and regulations.
This position will be responsible for developing and implementing credit administration strategies that minimize potential losses.
Administer the collections process according to Loan Policy, program requirements, and any applicable government regulations.
Work directly with assigned borrowers to negotiate work out and recovery plans and track performance. Borrower communications may include in-person meetings, site visits, phone calls, and written communications.
Review loan files upon assignment to understand the transaction and circumstances.
Collect delinquent payment from borrowers.
Complete the SBA servicing and liquidation process.
Monitor delinquent loans and work with staff and borrowers to develop an action plan to avoid future delinquencies.
Recommend and complete loan modifications and restructures based upon borrowers' financial capacity including a review of earnings, payment history, and net assets levels.
Take appropriate action to enforce NI's right or position with respect to the loan and collateral and appropriately document loan files.
Discuss issues with management and/or legal counsel to develop strategies and solutions.
Works with third parties when appropriate to dispose of collateral.
The position will be located in our main office in Marquette, Michigan. View the full job description at:
https://northerninitiatives.org/careers/------------------------------
Amanda Blondeau
Northern Initiatives
9068695940
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