Job Description:
Dominion Financial Services (DFS) is a mortgage originator for single family real estate. DFS originates two main loan products – a short-term bridge loan for fix & flip investors, and a long-term rental loan for landlords growing their rental portfolios. DFS is thriving in the current competitive environment and shows aggressive quarterly growth. Our current origination volume is $70MM per month. DFS is looking for a detail-oriented Director of Special Assets to join our growing team.
Our Company’s Core Values:-
Integrity
-
Accountable & Dependable
-
Team Centric
-
System & Process Oriented
-
Service Ethic
-
Organized Efficiency - Risk Management & Compliance
Responsibilities:
- Effectively handle all aspects of the lender’s past due and non-performing loan accounts.
-
Negotiate terms and conditions of workout agreements with borrowers, while maximizing recovery for the lender.
-
Monitor the progress of workout plans, including reviewing financial performance, assessing compliance with agreed-upon terms, and addressing any emerging issues promptly.
-
Provide guidance in developing appropriate, balanced, and actionable plans and processes to mitigate risk for the lender.
-
Ensure timely reporting to senior management on exposure and potential losses, reserve amounts, and risk-rating changes.
-
Lead Special Assets team in the compilation of pertinent data, placement of contractors/auditors, and management of expenses in workout situations.
-
Analyze data to report on the financial deficiencies of non-performing loans and maintain/retain data and records on non-performing loans in Pass, Special Mention, and non-Performing status.
-
Coordinate information flow between Special Assets department and other lender personnel and/or departments as needed to manage problem accounts, primarily Portfolio Management and Loan Operations.
-
Oversee the repurchase of collateral and liquidation of assets on non-performing loans. Report results and problems to management to minimize loss.
-
Manage internal and external resources required in the sale of repossessed assets, and REO.
-
Coordinate interaction with attorneys, business principals, property preservation companies, contractors, and outside agents to limit exposure, fulfill requests for information, and communicate with all parties involved with non-performing loans.
-
Ensure adherence to policies, procedures, and other appropriate compliance measures in handling Special Assets accounts.
Requirements:-
5+ years of directly related professional level experience in commercial lending environment.
-
3+ years in a management role, providing leadership, coaching, guidance and training, and contributing to staff development is preferred.
-
Expertise in creating and presenting ideas to executive management.
-
Thorough knowledge of commercial lending for business purposes with emphasis on RTL and DSCR Loans
-
Thorough knowledge of accounting, financial statement analysis, cash flow, and credit workout/collections
-
Knowledge of financial and legal processes of all aspects of commercial lending
-
Thorough computer knowledge of Microsoft Office, including Word, Excel.
-
Bachelor’s Degree in related field required.
Preferred Qualifications:
- Sense of urgency and understanding of timeliness on value to company.
-
Works well with all team members and seeks holistic opportunities for continuous improvement.
-
Works well in a fast-paced environment and can manage multiple projects/processes simultaneously and can act judiciously in ambiguous situations.
-
Ability to make sound business decisions.
-
Excellent oral/written communication, interpersonal, persuasive communication and presentation skills.
-
Ability to interface with all levels of management.
-
Experience working with Salesforce.
- Excellent organizational skills.
Benefits:
- Health insurance
- Dental insurance
-
Vision insurance
-
401(k)
-
401(k) matching
-
Paid time off
While At Dominion You Will Enjoy-
Company outings & social events
Virtual events
-
Mu1lkhxgEJ