Special Asset Portfolio Specialist
Pathway Lending is a fast growing nonprofit and a national leader in Community Development Lending. Every day, we work with entrepreneurs to understand their professional opportunities and organizational challenges. Join us and see how our flexible loans and innovative educational services can support their goals, grow their business, and create meaningful impacts in communities across Tennessee and Alabama.
Since 1999, we've helped hundreds of businesses grow, loaned $150+ million, and provided 40,000+ hours of coaching. We've gained a prominent voice as a leader in mission-driven lending and as a strong partner with local, state, and federal agencies that we hope to leverage in the next phase of our growth. Pathway Lending has become one of the largest business focused CDFIs in the country.
Special Asset Portfolio Specialist
The Special Asset Portfolio Specialist oversees Pathway's charged off portfolio including OREO. Responsible for the review, evaluation and working troubled assets to minimize the loss to Pathway. Develops plans and implements practices and procedures to minimize loan charge-offs from adversely classified loans.
- Coordinates with Chief Credit Officer and Portfolio Manager in assessing troubled credits to determine a plan that will provide Pathway the methodology to minimize potential losses. Visits with troubled borrowers to discuss identified issues in an effort to assist in preventing losses to Pathway and provide input into any proposed restructuring of the debt prior to charge off.
- Assess and analyze problems and causes of problems on the charged off loans and develop and implement strategies to recover principal, and interest when possible, from borrowers. Works with borrowers and/or their legal representatives to achieve desired results for each loan. Ensure that activity, including payments, address changes, sale of collateral, etc., are recorded accurately and in timely manner.
- Coordinate with Legal for any potential litigation or any activity necessary to perfect Pathway's position on associated collateral for the charged off loans. Discuss negotiation strategies if necessary.
- Coordinates with outside vendors to market and liquidate acquired assets in a timely manner and at an amount that minimizes or eliminates loan losses for Pathway. The vendors should be experienced with dealing with the types of collateral successfully and should provide the service at the least cost to Pathway.
- Monitor collateral to ensure that any legal, tax and insurance issues are addressed and current.
- Performs collection activity in timely and appropriate manner in consideration of debt collection practices, state laws, bankruptcy laws, etc. and records the status of the activity in Pathway files.
- Provides senior management and the Board of Directors with an objective and timely assessment of the value and status of activity on non-performing loans and associated collateral.
- Provides management with accurate and timely information for financial and regulatory reporting purposes regarding charge offs and recoveries.
- Other duties as assigned.
Qualities: experienced, diligent, persistent, good judgement, excellent negotiation skills, ability to prioritize and working independently. Excellent communication skills and the ability to communicate with a range of people from executives to service providers.
A FEW THINGS TO CONSIDER
- Some travel will be required, occasional overnight.
AT-A-GLANCE "MUST HAVES"
- 10+ years of experience.
- Strong people skills.
- Strong written and oral communication skills.
- Bachelor's Degree preferred or a combination of equivalent education and experience.
THINK THIS IS THE RIGHT OPPORTUNITY FOR YOU?
Please submit a resume and cover letter to Ashley.Verbert@pathwaylending.org. Applications received by October 1st will get preference.
If your background and experience align, you will be asked to complete a short-answer questionnaire and submit a sample of your work.
Next, if you are chosen as a finalist, you will first be interviewed by The Gabriel Institute and then by Pathway. The final step in the hiring process will be to arrange personal reference calls to confirm details of your work history and performance. Part time (est 20- 25 hours per week) Salary commensurate with experience within the range of $45K -$48K.