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VP Special Assets Officer

New York, NY

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Metropolitan Commercial Bank (the “Bank”) is a full-service commercial bank based in New York City. The Bank provides a broad range of business, commercial, and personal banking products and services to individuals, small businesses, private and public middle-market and corporate enterprises and institutions, municipalities, and local government entities.

Metropolitan Commercial Bank was named one of Newsweek’s Best Regional Banks and Credit Unions 2024. The Bank was ranked by Independent Community Bankers of America among the top ten successful loan producers for 2023 by loan category and asset size for commercial banks with more than $1 billion in assets. Kroll affirmed a BBB+ (investment grade) deposit rating on January 25, 2024. For the fourth time, MCB has earned a place in the Piper Sandler Bank Sm-All Stars Class of 2024.

Metropolitan Commercial Bank operates banking centers and private client offices in Manhattan, Boro Park, Brooklyn and Great Neck on Long Island in New York State.

The Bank is a New York State chartered commercial bank, a member of the Federal Reserve System and the Federal Deposit Insurance Corporation, and an equal housing lender. The parent company of Metropolitan Commercial Bank is Metropolitan Bank Holding Corp. (NYSE: MCB).

 

Position summary:

 

The Special Assets Officer will manage a portfolio of criticized and classified loans and develop exit strategies that protect the bank from incurring loan losses. The Special Assets department serves as a bridge between financial institutions and borrowers, working diligently to find mutually beneficial solutions that mitigate losses and help borrowers regain financial stability

This position will report to the Head of Special Assets

We have a flexible work schedule where employees can work from home one day a week.

Essential functions and responsibilities

  • Manage and oversee assigned portfolio of criticized and classified loans.
  • Negotiate workout transactions with borrowers to minimize risk to bank.
  • Recommend appropriate strategies for resolution of loans to senior management.
  • Partner with lending team members to assist with watch list credits as needed.
  • Ensure risk ratings are accurate.
  • Prepare quarterly Asset Recovery Group Memos and present to committee.
  • Monitor and assess collateral values of loans in the assigned portfolio and prepare all quarterly impairment/specific reserve memos.
  • Review and or assist with preparation of credit approvals for credit actions on assigned criticized and classified loans and ensure proper documentation of same.
  • Work with counsel as needed to document restructures, initiate foreclosure proceedings and/or bankruptcy matters when necessary.

Knowledge, skills and abilities:

  • College degree or equivalent work experience.
  • 10 plus years of commercial loan workout experience at a banking institution.
  • Strong credit and financial statement analysis skills.
  • Strong negotiation skills.
  • In depth knowledge of bank loan risk rating categories and regulations pertaining to problem loans.
  • Knowledge of complex loan documentation.
  • Experience with CRE and C&I loans.
  • Strong foundation of knowledge with foreclosure processes and bankruptcy proceedings.
  • Experience with preparing internal loan workout reports and presenting same to committees or senior management as needed.
  • Ability to work directly with counsel as needed.

Potential Salary: $140,000 - $150,000 annually

This salary range reflects base wages and does not include benefits, bonus, or incentive pay. Salary bands are purposefully wide ranging to encompass the different factors considered in determining where a candidate falls in the range, including but not limited to, seniority, performance, experience, education, and any other legitimate, non-discriminatory factor permitted by law. Final offer amounts are determined by multiple factors including candidate experience and expertise and may vary from the amounts listed here.

Metropolitan Commercial Bank provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state, or local laws.

This applies to all terms and conditions of employment, including recruiting, hiring, placement, promotion, termination, layoff, recall, transfer, leaves of absence, compensation, and training.

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