Senior

Recovery & Asset Management Officer

Camden National Bank

Gardiner, US · On-site

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If you’re looking to build your career at a forward-thinking organization with deep community roots and a vision for growth, success, and giving back, you’ve come to the right place.

Get to know us:

We’re your local community bank—and have been since 1875—that is committed to providing excellent customer service and giving back to our communities.
We foster a collaborative, inclusive work environment as part of a close-knit team where your voice is valued and heard.
Our highly engaged employees are rewarded for their performance and have ample opportunities for cross-training and advancement within the organization.
We’ve been named one of the best places to work in Maine, and offer robust benefits focused on your holistic well-being.

Position Summary:

The Recovery & Asset Management Officer is responsible for maximizing recovery on charged-off commercial and real estate loans while minimizing loss exposure to the Bank. This position manages complex recovery efforts that require extensive legal involvement, including litigation, court proceedings, judgments, bankruptcies, foreclosures, collateral liquidation, and negotiated settlements. The Officer serves as a liaison with outside counsel, courts, borrowers, guarantors, and third-party vendors to develop and execute effective recovery strategies. In addition to post-charge-off recovery responsibilities, this role supports the Bank's loss mitigation function by assisting with residential and commercial workout activities. The Officer evaluates distressed credit situations, analyzes repayment and modification options, participates in foreclosure and bankruptcy management, and helps develop solutions designed to preserve collateral value, improve borrower outcomes, and reduce potential losses.

Essential Duties and Responsibilities:

Execute recovery efforts for charged-off commercial and real estate loans, implementing strategies to maximize recovery and reduce loss exposure.
Negotiate loan settlements, repayment arrangements, discounted payoffs, collateral liquidations, deeds in lieu of foreclosure, and other resolution strategies with borrowers and guarantors.
Coordinate foreclosure, bankruptcy, litigation, judgment enforcement, repossession, and collection activities through direct involvement and management of outside legal counsel.
Represent the Bank's interests in legal proceedings, including court hearings, mediations, depositions, creditor meetings, and settlement conferences, as appropriate.
Monitor and pursue collection remedies on charged-off relationships, including execution on judgments, attachment of assets, garnishments, and other creditor rights actions.
Review and analyze legal documents, court filings, bankruptcy plans, collateral valuations, title reports, and financial information to assess recovery opportunities and legal risks.
Maintain relationships with attorneys, appraisers, auctioneers, real estate brokers, asset recovery firms, and other third-party vendors involved in recovery efforts.
Assist with residential and commercial loss mitigation activities, including loan modifications, repayment plans, forbearance agreements, short sales, and other workout solutions.
Support the administration of foreclosure and bankruptcy portfolios by evaluating workout alternatives, preparing recommendations, and ensuring appropriate servicing actions are taken.
Conduct financial analysis of distressed borrowers to identify viable workout, restructuring, or recovery strategies and provide recommendations to management.
Maintain accurate documentation, portfolio reporting, and recovery records while ensuring compliance with applicable laws, regulations, investor requirements, and Bank policies.
Provide support to the Appraisal Review Manager as needed, including assisting with appraisal review-related tasks, documentation, follow-up, and other related activities to support the Bank’s collateral valuation process.

Basic Qualifications:

Bachelor’s degree in Business, Finance, Accounting, Legal Studies, Criminal Justice, or a related field, or an equivalent combination of education and relevant experience.
Minimum of 5 years of experience in commercial loan workouts, special assets, collections, loan recovery, bankruptcy administration, foreclosure management, creditor rights, or a related financial services field.
Demonstrated experience managing legal collections, litigation, court proceedings, bankruptcy cases, foreclosures, and post-judgment recovery actions.
Strong working knowledge of commercial lending, real estate lending, loan documentation, collateral perfection, creditor rights, and collection remedies.
Experience coordinating with attorneys, court systems, trustees, government agencies, and third-party vendors involved in recovery and asset disposition activities.
Knowledge of bankruptcy laws, foreclosure processes, deficiency recovery, judgment enforcement, and debtor-creditor law.
Experience analyzing borrower financial statements, tax returns, collateral valuations, and repayment capacity to support workout and recovery decisions.
Strong negotiation and conflict-resolution skills with the ability to effectively manage difficult borrower and legal situations.
Excellent written and verbal communication skills, including the ability to prepare professional correspondence, legal referrals, and management reports.
Strong organizational skills with the ability to manage a portfolio of complex, high-risk credits while meeting deadlines and regulatory requirements.
Proficiency with Microsoft Office applications and loan servicing, collections, or special assets management systems.
Valid driver's license and ability to travel as necessary for court appearances, property inspections, borrower meetings, and legal proceedings.

Preferred Qualifications:

Juris Doctor (JD), paralegal certification, or formal legal training.
Experience within a bank, credit union, commercial finance company, or loan servicer.
Knowledge of residential mortgage loss mitigation, including loan modifications, foreclosure alternatives, bankruptcy management, and investor or government program requirements

Skills and Abilities:

Solid knowledge of internet software; Microsoft Office Products, with an emphasis on Excel Spreadsheets.
Ability to add, subtract, multiply, and divide in all units of measure, using whole numbers, common fractions, and decimals. Ability to compute rate, ratio, and percent as well as draw and interpret bar graphs.
Ability to effectively present information in a one on one and small group situation of customers, courts, legal and preservation vendors, investors, and other stakeholders of the organization.
Ability to apply common sense understanding to carry out detailed and involved written and/or oral instructions.
Ability to deal with problems involving many variables in a variety of situations.
Strong ability to interpret specific policies, procedures, laws, and regulations.
Ability to effectively present information in a one on one and small group situation of customers, courts, legal and preservation vendors, investors, and other stakeholders of the organization

Supervisory Skills:

This role will be an individual contributor with no direct reports

The statements contained herein reflect general details as necessary to describe the principle functions for this job, the level of knowledge and skill typically required, and the scope of responsibility, but should not be considered an all-inclusive listing of work requirements. Individuals may perform other duties as assigned, including work in other functional areas to cover absences or to equalize peak work periods to balance workloads. We encourage candidates to consult with their Talent Partner throughout the recruiting process to better understand how their experience aligns with the role, as well as details on compensation and our total rewards offerings. The prospective range of pay we will offer to a successful applicant to this position is $51,600.00-$75,700.00, which represents a good faith estimate of what we expect to offer at the time of posting based on the role’s responsibilities, level and location. Actual starting salary will be determined by the Bank in the Bank’s discretion, and shall depend on the applicant’s experience, skills, education, certifications, as well as other relevant business conditions. Final offers will reflect these considerations and may vary accordingly.

Our comprehensive total rewards package offers something for everyone!

Robust medical, dental, and vision insurance packages
Generous time off, including paid federal holidays and paid day off for your birthday
401(k) retirement savings plan
Tuition reimbursement, professional development, and career growth opportunities
Employee assistance program
Comprehensive wellness program

Pursue a career at Camden National Bank and apply today. We can't wait to hear from you!

We are guided and inspired by our Core Values:

Honesty and Integrity above all else
Trust built on fairness
Service that creates remarkable experiences
Responsibility to use our resources for the greater good
Excellence through hard work and lifelong learning
Diversity realized through inclusion and respect

Equal Opportunity Employer

Employment with Camden National is on an at-will basis, meaning employment is not guaranteed for any specific period of time, and any employment relationship established may be terminated by either party at any time, for any reason, with or without notice. Completion of an employment application is not a contract, express or implied, guaranteeing employment. Camden National Bank is an Equal Opportunity Employer and does not discriminate on the grounds of race, color, religion, sex, sexual orientation, including gender identity and gender expression, national origin, citizenship status, age, disability, genetic information or veteran status.

Learn more about why employees love working at Camden National Bank!