Commercial Special Assets Officer

Position Summary

The Special Assets Officer is responsible for managing and monitoring a portfolio of complex commercial loans. This role develops collection strategies, negotiates with borrowers and external parties, and implements plans to maximize the bank’s recovery while ensuring BSA compliance.

Responsibilities

• Develop collection strategies and action plans for problematic loans.
• Prepare detailed analysis and provide recommendations for collection and action plans.
• Negotiate with borrowers, attorneys, and companies to review and re‑structure credit and repayment terms.
• Implement recovery plans that minimize risk and loss to the bank.
• Provide timely and accurate reporting to the Special Assets Manager.
• Interact with commercial bank customers experiencing financial distress, displaying tact and persuasiveness.
• Frequent interaction with lawyers and other outside professionals, setting and pursuing the bank’s agenda.
• Seek to minimize out‑of‑pocket legal and non‑legal expenses from debtors, maximizing loan recoveries and fee income.
• Ensure compliance with BSA regulations.

Requirements

• Bachelor’s degree in Accounting, Finance, or equivalent experience.
• Formal credit training.
• 5+ years of direct special assets experience.
• Strong oral and written communication skills.
• Knowledge of commercial, real‑estate, and consumer lending, credit structure, loan policy, and complex credit collateral valuation/liquidation.
• Familiarity with regulatory agencies, third‑party loan review, internal/external auditors, and legal/regulatory banking and collections requirements.
• Understanding of appraisal/re‑appraisal guidelines and other policies affecting classified/criticized assets.
• Strong negotiation skills; ability to analyze credit and develop repayment terms with companies and high‑net‑worth individuals.
• Ability to work independently, prioritize daily workflow, and make decisions under frequent time pressures.
• Proficiency with Microsoft Office.
• Compliance with the Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act): current NMLS registration required for lending associates.

Compensation

Base Pay Range: $103,000 – $134,000 per year. Salary is based on job duties, qualifications, experience, and local market trends. The role may be eligible for bonuses or incentives based on company and individual performance.

Benefits

• 401(k) match and profit sharing
• Employee stock purchase plan
• Paid time off
• Medical, dental, and vision insurance
• Company‑paid life insurance and long‑term disability
• Supplemental voluntary life insurance
• Short‑term and long‑term disability coverage
• Wellness incentives and employee assistance program
• Pre‑tax health savings accounts and flexible spending accounts