Special Asset Manager
The ideal candidate is comfortable handling delinquent accounts, taking appropriate measures to mitigate the risk of loan loss, preserving the collateral, and properly documenting any loan restructure.
The Special Asset Manager is responsible for the management of an assigned portfolio of troubled loans. Management of the Special Asset Manager’s portfolio involves regular, direct interactions with borrowers, our third-party servicers, as well as working closely with the Special Servicing team to make sure Velocity’s interests are properly preserved. This includes, but is not limited to, taking appropriate measures to mitigate the risk of loan loss, preserving the collateral, and proper documentation of any loan restructure. The Special Asset Manager is also responsible for implementing loan collection and litigation plans.
This is a full-time, salaried position based in our Westlake Village headquarters.
Duties and Responsibilities
- Directly serves as an asset manager for assigned loan relationships to improve loan performance or status
- Implement strategies for legal action working in coordination with outside counsel
- Develop and recommend work out strategies as assigned
- Monitor and report to senior management the status of the assigned loans. Such reporting includes, but is not limited to, past due loan reports and assessing loan loss potential
- Oversee the pre-default loan work out strategies for loans that may indicate deteriorating loan credit quality
- Prepare and present request for approvals (i.e. work out, loan restructure, and/or litigation plan) to senior management
- Review and assess potential impact of borrower bankruptcy filings; ensure protection of bank’s position as a creditor
- Other duties may be assigned
Required Skills and Experience
- One or more years of mortgage experience is preferred but not required
- Excellent interpersonal and communication skills
- Good organizational skills, with the ability to multi-task efficiently
- Good attention to detail
- Proven ability to problem solve and handle a wide range of decision making
- Ability to write clear and effective memos
- Ability to analyze real estate markets and cash flow properties
- Bachelor’s Degree
Our benefits package includes medical, dental and vision insurance without having to wait 90 days. Benefits kick in on the first day of the month following 30 days of employment. We offer 401K match and multiple paid holidays.
Stand up desks, stocked café with endless coffee and tea available, as well as healthy snacks and cold drinks.