CCB Risk -Wholesale Risk - Special Credits Officer, Associate
Req #: 170079740
Job Category: Accounting/Finance/Audit/Risk
JP Morgan Chase
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with operations worldwide. The firm is a leader in investment banking, financial services for consumers and small business, commercial banking, financial transaction processing, and asset management. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at http://www.jpmorganchase.com/
Our Firmwide Risk Function
Our Firmwide Risk function is focused on cultivating a stronger, unified culture that embraces a sense of personal accountability for developing the highest corporate standards in governance and controls across the firm. Business priorities are built around the need to strengthen and guard the firm from the many risks we face, financial rigor, risk discipline, fostering a transparent culture and doing the right thing in every situation. We are equally focused on nurturing talent, respecting the diverse experiences that our team of Risk professionals bring and embracing an inclusive environment.
Chase Consumer & Community Banking (CCB) serves consumers and small businesses with a broad range of financial services, including personal banking, small business banking and lending, mortgages, credit cards, payments, auto finance and investment advice. Consumer & Community Banking Risk Management partners with each CCB sub-line of business to identify, assess, prioritize and remediate risk. Types of risk that occur in consumer businesses include fraud, reputation, operational, credit, market and regulatory, among others
As a Special Credits Officer you will manages a portfolio of open, adversely graded credit relationships with small business clients for the purpose of preserving loan principal, collecting interest and preventing loans from being charged off. Special Credits Officer provides proper reporting to management according to bank policies and OCC requirements.
Responsibilities include the following:
- Improves the overall quality of the portfolio through negotiating satisfactory repayment schedules, obtaining additional collateral and/or restructuring credit facilities, as appropriate.
- May also be involved in the management, leasing and sale of commercial OREO property.
- Reviews existing loan documentation for errors and omissions, and evaluate client's financial strength and capacity to repay outstanding debt.
- Ensures collateral lien is perfected and determines collateral’s current value.
- Develops and implements a plan of action to protect and improve the bank's position in the credit.
- Negotiates a satisfactory restructure of the credit facilities and obtains additional collateral as appropriate.
- Monitors plan of action for the desired results.
- Takes legal action when necessary to protect interests of the bank, including liquidation and foreclosure of collateral.
- Documents all contacts, agreements and discussions that transpire with the client, outside vendors and attorneys.
- Extensive specialty lending – SBA, Ag, USDA.
- Expert understanding of workout, collection and negotiation strategies
- Bachelor’s degree or equivalent work experience.
- 5+ years of commercial workout experience.
- Expert underwriting knowledge, financial statement analysis, accounting, economics and finance required.
- Expert understanding of commercial real estate and asset based lending in a lending environment.
- Demonstrates advanced verbal, written, and interpersonal skills as well as analytic and problem solving skills.
- Ability to formulate and articulate objective views based on professional analysis.
- Expert knowledge of credit philosophy and policies, loan documentation, bankruptcy and related legal issues.
- Expert knowledge of standard accounting practices, financial statement analysis, ratio analysis, borrowing base analysis, economics and finance.
- Expert knowledge of federal bankruptcy and state collection laws.