Special Assets II (Chicago)

Position Title: Special Assets II


Locations: Chicago_IL


Time Type: Full time


Req ID: JR1308-Chicago_IL


At Midland, we’re proud to be a little different. You can see it in our bright orange signs-but there’s more to it than that. With our heartfelt and personalized approach, we’re focused on meeting every customer’s needs with the brightest solutions.

For more than 140 years, we’ve learned by serving customers skillfully with dedication and follow-through, we can brighten every interaction to drive our collective success. And this goes beyond traditional banking.

We foster programs that empower our communities, continuously invest in our employees, and actively pursue brighter futures for all.

Our humble ambition keeps us growing, giving back, and looking ahead. We’re innovating and optimizing our services to ensure we stay unique - providing strength you can count on with heart you can feel.

You might say we’re unlike any other bank.

And you’d be right.


At Midland States Bank, base salary is one component of our Total Rewards program. Exact compensation is determined by factors such as (but not limited to) education, skills, internal equity, and experience. This position offers additional compensation in the form of short-term incentives (i.e. bonus and/or commission) and may include long-term incentives (i.e. stock awards). Benefits for this role include comprehensive healthcare, well-being benefits, paid family leave as well as generous paid time off. Total Rewards also include banking perks, an Employee Stock Purchase Plan, 401K plan with company match and may include the opportunity to participate in our Non-Qualified Deferred Compensation plan. Incentives and benefits are subject to eligibility requirements.

Salary: $107,000-$160,000/annually

Position Summary

The primary role for this position is to manage a portfolio of problem assets. This will include; identification of the underlying issues impacting the Borrower, early intervention, formalizing possible solutions and implementation of a structured resolution that will result in minimal loss to the Bank. This role will also be responsible for consulting with Commercial Relationship managers and junior staff members to assist in developing plans that will result in optimal resolutions of problem assets.

Primary Accountabilities

• Develops plans, and implements practices and procedures to minimize loan charge-offs from adversely graded loans and to return such credits to performing status.
• Coordinates with tax, legal, audit, credit/loan policy, and regulatory officials at the highest levels.
• Develops and implements strategies to recover principal from borrowers whose non-performing loans have been charged off.
• Works closely with legal and other departments to maximize the recovery of such funds.
• Provides recommendations to executive management relative to structuring and reviewing credits to reduce fundamental weaknesses in company's credit/loan policies.
• Chapter 13 and 7 Bankruptcy knowledge.
• Skip tracing experience.
• Fair debt collections practices act knowledge.
• Previous experience managing employees.
• Loan recovery experience.
• Understands repossession law and procedures.
• Experience liquidating non Real Estate collateral.
• Familiar with foreclosure laws and procedures for Judicial and non-judicial foreclosures.
• Experience in creating collection strategies.
• The role requires occasional travel for training and team meetings, and willingness to travel periodically, to locations within market as needed.
• May require work in a Midland office to ensure collaboration and support of internal and external customers.
• Maintain compliance with all applicable regulations including, but not limited to, the Bank Secrecy Act (BSA).
• Other duties as assigned.

Position Qualifications

Education:

• Bachelor’s Degree or experience equivalency
• Minimum of 7-10 years banking experience with significant credit/risk experience and/or supervisory capacities
• Minimum 5 years commercial loan workout experience

Competencies/Other Skills:

• Business insight
• Cultivates innovation
• Drives results
• Makes sound decisions
• Being a brand champion
• Collaborates
• Communicates effectively
• Customer focus
• Being Authentic
• Emotional Intelligence
• Self development
• Being flexible and adaptable

At Midland States Bank, we believe that when we can bring our whole selves to work each day, we become happier, more comfortable, more confident and more excited to do great things for our customers, each other and our company. We’re proud to be an Equal Opportunity and Affirmative Action employer. At Midland, we recruit, employ, train, compensate and promote without regard to race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability, age, or veteran status. If you are looking for a place to grow, we encourage you to apply at Midland States Bank, because you belong here.

If you require reasonable accommodation in completing this application, interviewing, completing any pre-employment testing, or otherwise participating in the employee selection process, please direct your inquiries to Midland States Bank Human Resources at [email protected].

Midland States Bank may use automated tools and artificial intelligence (“AI”) to assist with recruiting, screening, and hiring decisions. In accordance with the Illinois Human Rights Act (effective January 1, 2026), these tools are designed and monitored to be neutral and job-related, and must not be used in a way that discriminates against applicants or employees based on any protected characteristic.

THIS JOB DESCRIPTION DOES NOT CONSTITUTE A CONTRACT FOR EMPLOYMENT

Compensation details: 107000-160000 Yearly Salary

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