Director Commercial Special Assets

$132,400 - $220,600/Yr

Fulton Financial Corporation - Lancaster, PA

Full-time - Senior

Lancaster, PA

Securities, Commodity Contracts, and Other Financial Investments and Related Activities

About the position

The Director of Commercial Special Assets at Fulton Bank is responsible for overseeing the commercial workout function, ensuring effective management of problem loans and leases. This role involves creating and communicating strategies for the department, which includes collection and workout activities, while ensuring compliance with all regulatory and legal requirements. The position allows for flexibility in location within the bank's five-state footprint (PA, MD, NJ, DE, and VA) and offers hybrid work options. In this role, the Director will maintain oversight of function managers responsible for the collection and workout arrangements of commercial mortgage problem loans and leases, including foreclosure and liquidation processes aimed at minimizing financial loss for the bank. The Director will establish goals, objectives, and measurement methods for the Commercial workout function under Special Assets, while also focusing on the development of management staff through training and experience. The Director will prepare an annual budget, ensuring that the department operates within its financial limitations. They will oversee the development, enhancement, and monitoring of processes to ensure compliance with various regulatory requirements, including but not limited to Regulation X, Regulation B, Fair Lending, and the Bank Secrecy Act. Additionally, the Director will meet with bank examiners, auditors, and management teams to discuss findings and necessary improvements, and will manage corporate nonaccrual and charge-off processes for all commercial mortgage loans based on thorough analysis of borrower financial statements. The role also involves developing strategies for large criticized and classified commercial loans to upgrade or revitalize them while minimizing loss and risk of lender liability. The Director will serve on various internal committees, contributing to discussions and decisions related to loan products and services, ensuring adherence to regulatory and accounting requirements associated with problem loans.

Responsibilities

• Ensure effective and efficient operation of the Commercial Special Assets focus.
• Maintain oversight of function managers and their responsibilities for the collection and workout arrangement of commercial mortgage problem loans and leases.
• Establish goals, objectives, and measurement methods for the Commercial workout function under Special Assets.
• Develop management staff for growth through training and experience.
• Make recommendations for department managers and direct report employees regarding employment, performance ratings, salary changes, promotions, transfers, and terminations.
• Prepare an annual budget and ensure that the department operates within its limitations.
• Oversee function development, enhancement, and monitoring processes to ensure compliance with regulatory, servicing, and legal requirements.
• Develop, review, and recommend operating policies and procedures; oversee the proper implementation and maintenance of approved changes.
• Meet with bank examiners, auditors, and management teams to discuss findings and necessary improvements.
• Manage corporate nonaccrual and charge-off processes for all commercial mortgage loans based on thorough analysis of borrower financial statements.
• Consolidate all known charge-offs and recoveries and recommend nonaccrual and charge-off amounts to management.
• Develop strategies on large criticized and classified commercial loans to upgrade or revitalize them while avoiding or minimizing loss and risk of lender liability.
• Ensure adherence to regulatory and accounting requirements associated with problem loans.
• Serve on various internal committees including the Asset Quality Rating Committee, the Credit Risk Management Committee, and the Fair Lending Committee.

Requirements

• Bachelor's Degree or equivalent experience in Business Administration or a related field (Required).
• 10 or more years of management experience in commercial workout (Required).

Benefits

• Medical plans with prescription drug coverage
• Flexible spending account or health savings account
• Dental and vision insurance
• Life insurance
• 401(k) program with employer match
• Employee Stock Purchase Plan
• Paid time off programs including holiday pay and paid volunteer time
• Disability insurance coverage
• Maternity and parental leave
• Adoption assistance
• Educational assistance
• Robust wellness program with financial incentives