Since opening our doors in 1926, Seacoast Bank has embraced a visionary approach to the future while remaining true to our local roots and family values. Based in Stuart, we are one of the largest publicly traded banks headquartered in Florida.

We believe that our greatest assets will always be our people — local bankers who are knowledgeable about the communities we serve and dedicated to providing an exceptional customer experience.

We offer exciting and challenging opportunities in an environment that supports diversity, enabling associates across the organization a greater sense of empowerment to create change for the better. This is evident in our American Banker “2020 Best Banks to Work For” and “Best Places to Work for LGBT Equality” by the Human Rights Campaign designations

Summary

The Special Assets Officer (SAO) is responsible for the management of troubled borrower relationships and/or adversely graded loans within the Bank's loan portfolio of diverse size and complexity in compliance with all applicable state and federal laws, rules and regulations and Bank lending policies and procedures.

Management of SAO’s portfolio involves regular direct interactions and negotiation with borrowers, legal counsel, as well as working closely with Bank loan officers and other team members to ensure the Bank’s interests are properly preserved. This includes, but is not limited to, taking appropriate measures to mitigate the risk of loan loss, preserving collateral and/or lien rights, and confirming documentation of loan restructure. The SAO is also responsible for recommending, documenting, implementing, and reporting on loan collection and litigation plans approved by the Bank’s senior management.  

Essential Duties and Responsibilities

• Directly serve as loan or asset manager for assigned relationships to improve loan performance or status
• Implement strategies for legal action through Bank Counsel after consultation with SAD Director, loan committee, and/or the Chief Credit Officer (CCO).. 
• Develop, recommend, and execute work out strategies for a variety of commercial loan types (i.e., C&I, investment CRE, construction loans, owner-occupied CRE) as assigned and meet or call upon with customers for collection and, when necessary, to negotiate work out terms.
• Monitor and report to Management the status of the assigned loans. Such reporting includes but is not limited to Problem Loan Action Reports (PLARs), past due loan reports, risk rating recommendations, and assessing loan loss potential.
• Oversee and guide pre-default loan work out strategies with other lenders for loans that may indicate deteriorating loan credit quality but have not yet triggered a default of payment or covenant. 
• Manage loan work out negotiations with bank counsel and borrowers and to make necessary judgments to protect the bank's interest and achieve maximum recovery.
• Prepare and present requests for approvals for loan modifications, restructures, forbearance agreements and/or settlement agreements to Management.
• Understand and abide by applicable Statutes, regulations, and applicable interagency guidelines (i.e., OCC, FDIC)
• Monitor collateral conditions through inspections as needed
• Oversees relationships with third-party collections vendors, as needed.
• Review and assess the potential impact of borrower bankruptcy filings; ensures protection of bank's position as a creditor.   

Other duties may be assigned.