Special Management Officer Special Management Officer …

Pacific Mercantile Bank
in Costa Mesa, CA, United States
Permanent, Full time
Be the first to apply
Pacific Mercantile Bank
in Costa Mesa, CA, United States
Permanent, Full time
Be the first to apply
Special Management Officer
Special Assets Management Officer II

  VOTED TOP WORKPLACE 2018 & 2019 


Who we are: Pacific Mercantile Bank is unique from other business banks. While other banks are in the loan and deposit business, we are in the solutions business. We finance growth opportunities by providing innovative and customized banking solutions with a full range of loans, deposit and cash management products and services for our clients long-term success. Our experience team is dedicated to our mission Helping companies succeed.

What you bring to PMB: Your experience working in a commercial bank lending environment is the foundation for your ability to understand that urgency begins with ME, and you are energized when tackling challenges and new tasks. You are excited to manage problem loans, charged off loan collections, and OREO management. You are open to learning and coaching and you are comfortable providing relevant, positive, and constructive feedback with the intention of helping one another succeed. You consider yourself a problem solver because youre always on the watch for processes that need improvement and you own it until it is resolved. You believe in making a difference every day to support your team and the organizations goals and mission.

Heres what youll do: The Special Assets Management (SAM) Officer is the primary contact for both internal and external communications associated with the individual troubled loans and is directly involved in workout strategies, negotiations and credit underwriting of the loans in the SAM portfolio. The Officer must have experience working on complex credits of all types and have a strong working knowledge of, workout strategies, commercial credit analysis, problem loan structuring, contracts, bankruptcy laws, OREO management and market dynamics. The position requires excellent written and verbal communication and time management skills.

Essential Job Duties

Problem Loan Management

Assists in the management of all aspects of the banks problem loan portfolios.

Create and implement action plans for resolving problem loan weaknesses and defaults, to include restructures, forbearance's, legal action, settlements, foreclosures, liquidations, note sales, and other actions. Negotiate with borrowers and guarantors to arrive at best possible resolutions

Upon transfer of a loan into SAM, review loan for documentation and other deficiencies and evaluate status.

Complete appropriate impairment analyses, accrual and non-accrual determinations, reserves and charge-off recommendations. Prepare and submit approvals for same to senior management.

Prepare quarterly Problem Loan Reports documenting loan status and impairment status. Prepare other management reports as required.

Contract with and utilize bank legal counsel as needed.

Prepare default letters, pre-negotiation agreements, reservation of rights, etc.

Analyze financial condition and the credit status of borrowers and guarantors. Spread financial statements in financial spreadsheet software programs to evaluate cash flows and the borrowers/guarantors ability to repay the loan under current or modified repayment plans.

Analyze collateral value. Review real estate appraisal reports, research current market data, business evaluation reports, accounts receivable audits, operating statements, etc.

Monitor ongoing performance of the loans being paid under forbearances, settlements, modifications, etc. Monitor bankruptcy proceedings of loans in the SAM portfolio. Work with legal counsel to ensure banks best interest are represented and enforced

Maintain and update SAM files with appropriate documentation. Follow for annual credit reports, tax returns, financial statements, property tax payments, insurance, etc. Insure proper title insurance is obtained and in place.

Manage all stages of the foreclosure process. Responsible for the disposition of foreclosed properties and repossessed assets.

Market, negotiate terms, and sell non-performing notes.

Monitor and direct the banks outside mortgage-servicing company (DMI) on collection activities being carried out on the banks behalf on the mortgage loan portfolio.

Advise line relationship officers on strategies to resolve loan problems before they accelerate to the point they need to be transferred to SAM. Charged Off Loan Collections

Initiate and manage collection procedures of charged-off loan accounts.

Develop and implement strategies to maximize individual loan recoveries.

Monitor performance and borrowers adherence to loan terms of charged-off credits.

Carry out all collection activities, including phone calls, letters, default notices and filings, etc. within the scope of local, state, federal and other regulatory entities. OREO Management

Manage all OREO operations for the bank and its subsidiaries.

Complete initial and ongoing net value and impairment analyses.

Evaluate, recommend and carry-out disposition plans for OREO properties

Prepare and present monthly status reports to PMAR management.

Ensuring proper on-going property management and value preservation of the OREO properties. Arrange for professional property management, to include on-site security, property maintenance, rent collection, evictions, bill payments, insurance coverage, tax payments, etc.

Responsible for obtaining entitlements and approvals from municipalities or agencies having jurisdiction over the properties. Arrange for completion of necessary construction or repairs to the properties.

Liquidate OREO properties. Contracting with listing brokers, negotiate sales prices and terms, work with legal counsel to ensure appropriate sales and other contracts, arranging auctions, obtain and evaluate bids from service providers and other contractors, obtain management approvals, coordinating financing assistance if applicable, coordinate sales closings.

Perform other tasks and duties as assigned.

 What you need for this position:

A minimum 5-10 years of experience in troubled loans workouts and collecting in a commercial bank or equivalent environment. Demonstrated history of successful problem asset resolution and risk management.

Underwriting and management skills for varied loan types including commercial and industrial loans, real estate loans, lines of credit, SBA and ABL loans, secured and unsecured loans.

Familiarity with the legal issues involved with distressed loans such as bankruptcy actions, foreclosures, performance claims, and collateral collection remedies.

Must possess strong computer skills including Excel.

Bachelor's degree in business administration, accounting, finance or related field preferred.

Full time position reporting to the manager of the Manager of the Special Assets Management department.

Whats in it for you:

Competitive salary

Comprehensive benefits package includes medical HMO or PPO, dental, and vision

Life/AD&D & Long Term Disability benefits

Flexible Spending Accounts (FSA) and Dependent Care

Employee Assistance Program (EAP)

Tuition reimbursement

Matching 401(k) Vacation benefits minimum accrual of three 3 weeks vacation per year

Personal Days (PTO) personal holidays

Paid Bank observed holidays

We even celebrate your hire anniversary date by giving you the day off!

The best part, youll be partnering with a team of empowered professionals who lead by example and who reinforce strong core values through collaboration, trust and the celebration of success. 

We are an Equal Opportunity Employer that considers applicants without regard to race, religion, sex, sexual orientation, gender identity, gender expression, transitioning, transgender, national origin, color, disability, or protected veteran status.