Head of Special Credits

Title: Head of Special Credits

Location: United States

Full-Time

Remote

Job Description:

ABOUT US

Here at MVB, our company culture defines the environment in which Team Members thrive. Our culture impacts a wide range of elements, including our purpose, values, expectations and goals that support growth and engagement - it is the secret sauce of our organization!

Our values live at the core of all that we do - Trust, Commitment, Teamwork, Adaptive, Respect, Love and Caring are our foundation for success.

MVB Financial Corp. ("MVB Financial" or "MVB"), the innovative financial holding company of MVB Bank, Inc., is publicly traded on The Nasdaq Capital Market under the ticker "MVBF." Through its subsidiary, MVB Bank, Inc., ("MVB Bank") and the bank's subsidiaries, MVB provides services to individuals and corporate clients in the Mid-Atlantic region, as well as to Fintech, Payment and Gaming clients throughout the United States. For more information about MVB, please visit www.mvbbanking.com.

This role can be based remotely.

Candidates must reside in one of the following states: West Virginia, Virginia, Texas, Florida, Ohio, Pennsylvania, Maryland, Washington D.C., New York, New Jersey, Arizona, North Carolina, Georgia, or South Dakota.

ABOUT THE ROLE

The Head of Special Credits position will lead the Special Assets Division within the Commercial Lending area. The Head of Special Credits role is responsible for managing a portfolio of adversely graded loans from various lending groups throughout the Bank. The primary duties of this position include developing and implementing special assets administration strategies that minimize the Bank's potential loss on each assigned loan. This position will handle problem loan workouts; will also handle foreclosures and liquidations; ensure proper grading and reserves on problem loans.

The Head of Special Credits position requires a high knowledge of rules and regulations related to underwriting, collections, foreclosures, and liquidations processes. This position works with the senior management, the lending team and legal counsel to protect the Bank's interests and ensure compliance with all applicable laws and regulations.

WHAT YOU'LL DO

Oversee Special Assets Activities

• Manage with the Bank's special asset portfolio, working with lending officers, borrowers, the credit department, managers, and real estate professionals.
• Identify current or potential problems with existing loans, take ownership and see them through to resolution.
• Implement, when warranted, the appropriate workout strategies for special assets that include restructuring credit and repayment terms, further securing collateral, as needed, and documenting due diligence review.
• Coordinate with legal, audit, and credit/loan policy departments, as necessary, to ensure compliance of negotiated workout agreements within established bank policies, processes, and regulatory requirements.
• Ensure the enforcement of banks rights and remedies if negotiated workout plan proves not feasible and/or further default ensues. May work closely with legal counsel seeking to maximize the recovery of non-performing assets.
• Monitor the collection activity and ensure the correct application of recovered funds.
• Coordinate the proper implementation of workout plans and present to SARC, MLRC, LAC, or Board of Directors, as designated by executive management.
• Maintain MVB Rent Tracking Report on those distressed assets in the process of workout.
• Manage and liquidate acquired properties. Coordinate and establish liquidation value of bank collateral in conjunction with liquidators, appraisers and other professionals.
• Supervise a position dedicated to special assets work regarding consumer loans to include ways to improve the special assets processes.
• Manage Special Asset loan sales disposition strategies & sales execution.

OREO Oversight

• Provide monthly bank-owned property report for Chief Credit Officer to review.
• Maintain monthly Foreclosure Tracking Sheet.
• Maintain close contact with real estate brokers to ensure sales efforts are optimized in liquidating bank owned assets.
• Ensure that appraisal dates are kept current and values reflect current market conditions.
• Make recommendations to Chief Credit Officer on those assets that should be considered for further write-downs due to adverse market conditions and prolonged listing agreements with slow activity.
• Keep all listing agreements current and listing prices reflective of the current real estate cycle.
• Make certain properties are properly maintained and winterized, as applicable.

Support the Special Assets Review Committee (SARC)

• Meet with SARC on a regular basis, when requested to status existing special assets, as well as, identify and manage potential special assets.
• Review overall special assets data and other reports to include statistics, performance metrics, etc.
• Review and offer recommendations on special assets policy, processes or practices.
• Carry out actions approved by SARC.
• Work, as requested, with internal and external auditors regarding special assets review.

Process integrity, Quality Control & Reporting

• Assist in quality control review and continuous quality improvement in the area of special assets including processes and reporting.
• Assist with identification and development of special reporting and data analysis that advances the special assets operations.

Special Projects & Professional Development

• Undertake special assignments or internal projects as requested.
• Identify and complete education that provides expertise in special assets, credit analysis and overall professional development.
• Complete all required MVB education on an annual basis.
• Participate, as warranted and appropriate, in organizations that advance knowhow and skills in special assets and related activities.
• Serve, when requested, on committees, teams and projects across the organization.

EDUCATION & WORK EXPERIENCE

• Bachelor's degree in business-related field required; MBA highly preferred
• 8-10+ years of commercial banking experience
• Proven leadership and management skills within banking
• Strong credit skills and experience with loan documentation and enforcement.
• Advanced negotiating skills and the ability to work effectively under stressed conditions with borrowers
• Advanced presentation and communication skills both verbal and written and demonstrated ability to handle confidential material
• Effective analytical skills to gather and analyze information skillfully and develop solutions in problem solving situations
• Ability to work in a fast-paced environment with attention to multiple requirements

BENEFITS AT MVB

MVB Financial Corp., ("MVB") offers an excellent selection of benefits for regular, part-time and full-time Team Members, including:

• Medical, Dental and Vision Insurance
• Health Savings Account (HSA), Health Reimbursement Account (HRA) & Flexible Spending Accounts (FSA)
• Short- and Long-Term Disability Plan
• Group Life Insurance
• 401K Salary Deferral Plan
• Wellness Program
• Education & Tuition Expense Reimbursement
• PTO and Unique Vacation Purchase Program
• Nationwide Pet Insurance Coverage

#LI-Remote

We encourage you to submit an application even if you haven't performed every job duty listed above, as your skills may be transferrable. MVB is looking for ambitious individuals with related knowledge, understanding and abilities who are willing to learn and grow. What we care about most is allowing you to develop and, in return, you help us become a stronger, more diverse and well-rounded organization.