MassDevelopment is accepting applications for a Vice President of Risk Management and Special Assets in the Agency’s Boston office. Offering a wide range of finance programs and real estate development services, MassDevelopment supports economic growth, development, and investment across all sectors of the Massachusetts economy: public and private; commercial, industrial, and residential; and nonprofit, including health care, educational, cultural, and human-service providers. Our staff works in collaboration with developers, businesses, and banks to identify investors and leverage funds to support economic growth.

Under the general direction of the Senior Vice President of Lending, the Vice President of Risk Management and Special Assets is responsible for the oversight and management of a portfolio of special asset loans, the majority of which are criticized and classified.

Core Components of the Position:

• Monitor the Agency’s criticized and classified loan portfolio to ensure prompt recognition of loan quality deterioration.
• Working closely with borrowers, guarantors, legal counsel, consultants and other stakeholders, generate strategies and implement action plans to minimize loss and maximize recoveries, resulting in speedy and satisfactory resolution of performance and payment deficiencies. Ultimate success is the rehabilitation of the relationship and returning the loan to the performing loan portfolio until it is refinanced or matures.
• Draft and compile asset quality reports for presentation to senior management, and keep management informed of portfolio trends on a timely basis.
• Review documents for all approved and modified loans through the documentation process to loan closing. This includes, but is not limited to, the review of all commitment letters and loan and guarantee documents for completeness, correctness, clarity and consistency with loan approval origination, as well as ensure documents are structured to provide maximum security for the Agency.  
• Manage a portfolio of assigned accounts and perform quarterly and annual reviews of all assigned accounts. Maintain satisfactory and respectful relationships with existing borrowers at all times.
• Negotiate and structure loan and guarantee modification requests with borrowers and draft for presentment and approval. Maintain accurate loan information and documentation in the database.
• Work with troubled companies to shore up the Agency’s collateral where possible. Provide access to business advice to clients, in order to improve cash flow or identify and secure alternative sources of funds.
• Monitor and process approved loans in a timely manner through commitment, documentation and the closing process. Identify, address and resolve concerns and questions that may arise during the process.
• Manage and monitor financial records, keeping and accounting of all risk and special asset management, including invoicing, payment and repayment on a regular basis (monthly, quarterly and annual).