CCB - Wholesale Risk - Special Credits Officer - Associate
JP Morgan Chase
JPMorgan Chase & Co. (NYSE: JPM)is a leading global financial services firm with operations worldwide. The firmis a leader in investment banking, financial services for consumers and smallbusiness, commercial banking, financial
transaction processing, and assetmanagement. A component of the Dow Jones Industrial Average, JPMorgan Chase& Co. serves millions of consumers in the United States and many of theworld's most prominent corporate, institutional
and government clients under itsJ.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. isavailable at http://www.jpmorganchase.com/ .
Our Firmwide Risk function isfocused on cultivating a stronger, unified culture that embraces a sense ofpersonal accountability for developing the highest corporate standards ingovernance and controls across the firm. Business priorities are built aroundthe need to strengthen and guard the firm from the many risks we face,financial rigor, risk discipline, fostering a transparent culture and doing theright thing in every situation. We are equally focused on nurturing talent,respecting the diverse experiences that our team of Risk professionals bringand embracing an inclusive
environment. Business/Department Overview
Business Banking provides deposit,credit, and cash management services to small businesses with annual revenue upto $20MM. As a Special Credits Officerin Business Banking Risk, you will manage and service a problem credit portfolioof approximately 35 small business client relationships. Client exposure is typically >$500,000,and the number of clients assigned will vary based on size and complexity. Coreresponsibilities include the following:
- Review existing collateral and loan documentation for assigned loans to identify errors, omissions, or other deficiencies, and remediate as needed and to the extent possible.
- Obtain current financial information and collateral valuation(s) in accordance with procedures, and evaluate client's financial strength / capacity and collateral to repay outstanding debt.
- Assess client and facility risk ratings in accordance with procedures.
- Determine stay / leave strategy for individual clients, and develop / implement a plan of action to protect and improve the bank's position in the credit.
- Negotiate satisfactory restructure of credit facilities and obtain additional collateral as appropriate.
- Monitor progress in accordance with approved strategy, and timely document systems to reflect current status.
- Initiate appropriate legal action when necessary to protect interests of the bank, including litigation and liquidation / foreclosure of collateral.
- Document all contacts, agreements and discussions that transpire with the client, outside vendors and attorneys.
- Timely submission of loans to the Small Business Administration (SBA) for repurchase when the defaulted credit facility is enhanced with a SBA guarantee.
- 5 years of commercial collections and problem credit management experience
- Strong working knowledge of financial statement analysis, standard accounting practices, accounts receivable/borrowing base analysis, and collateral perfection
- Expert understanding of commercial real estate and accounts receivable / inventory lending.
- Strong functional and technical skills: Negotiation and influencing skills, written and verbal communication, decision quality, conflict management, interpersonal, and analytic / problem solving skills.
- Expert knowledge of credit philosophy, policies & procedures, loan documentation, SBA, collections litigation, federal bankruptcy laws, and state collection laws.