The South Financial Group conducts banking operations as Carolina First Bank with over 100 banking offices in NC and SC, as Mercantile Bank with over 65 banking offices in Florida, and as Bank CaroLine (Internet only). Founded in 1986, The South Financial Group uses a super-community bank strategy, serving the needs of small business, middle market companies, and retail consumers by offering a full range of financial services, including deposits and loans; treasury management and merchant processing; full service brokerage and investments; business and personal insurance; trust and investment management; and wealth management and private banking....and an exceptional level of personalized service.

The South Financial Group focuses on fast-growing banking markets in the Southeast and operates Carolina First Bank, which conducts operations as: Carolina First Bank (NC and SC), and Mercantile Bank (FL).

Founded in 1986, The South Financial Group uses a super-community bank strategy, serving the needs of small business, middle market companies, and retail consumers by offering a full range of financial services, including deposits and loans, treasury management and merchant processing; commercial insurance; full service brokerage and investments; life insurance; trust and investment management; and wealth management and private banking. As a super-community bank, we offer customers personalized service and local decision-making, backed by products and services usually found only at larger banks.

Special Assets Officer Job Summary
Actively manages a portfolio of adversely graded commercial credits and is responsible for working out charged off loans in order to maximize principal recovery. Analyzes charged off loans and determines the most effective method for maximizing recovery.

Special Assets Officer Key Responsibilities:

Maintains acceptable delinquency and loss ratios within portfolio

Develops action plans and works closely with attorneys and other involved parties to secure appropriate repayment arrangements

Updates Watch Reports on managed credits

Responsible for OREO and recovery efforts on charged off loans

Provides technical advice and guidance and assists Commercial RM’s (e.g. identification and evaluation of deteriorating loan situations) in order to recognize charged off loans early and minimize losses.

Works closely with attorneys on lawsuits and bankruptcies

Interfaces with Loan Operations to aid lenders with loan maintenance and documentation issues

Evaluates risk and loss potential in Lender portfolios as assigned.

Key Qualifications for Special Assets Officer
Education

4-year degree in finance, accounting, economics or business administration

Experience

5+ years experience in special assets and specialty lending with demonstrated success in resolving problem loans

Solid understanding of accounting with a minimum of 9 credit hours completed (including intermediate accounting)

Successful completion of credit training program

Requires extensive prior special assets and recovery background, experience in analyzing financial statements, ability to structure and negotiate credit and decision loans, while exercising sound judgment in all relationships and activities

Must have a proven track record in achieving goals, as well as the ability to bring negotiations to closure and solve business problems

Financial statement analysis background

knowledge of state and federal bankruptcy and collection laws and requirements and also SBA lending and workout requirements

proven experience resolving problem loans

specialty lending experience

Availability to travel for extended periods of time

Competencies:

Unquestionable ethics, integrity, and values

High energy, hands-on, “get it done” style

Strong written and verbal communication skills and ability to interact effectively with customers, both external and internal

Strong credit skills

Strong analytical skills including understanding of corporate finance

Strong problem solving skills

Sound judgment and decision-making skills

Ability to negotiate effectively

Exemplary customer service skills

Business acumen

Function effectively as a team member

Must be able to successfully pass job-related assessments, credit check, criminal background check, drug screening, and reference check.