Commercial Special Assets Officer

Position Summary

The Special Assets Officer is responsible for managing and monitoring a portfolio of complex commercial loans. Responsibilities include developing collection strategies, action plans, negotiating, and implementing plans to maximize the bank’s recovery.

Responsibilities

• Develop collection strategies and action plans for problematic loans.
• Prepare detailed analysis and provide recommendations of the 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.
• Interact frequently with lawyers and other outside professionals, both those retained by the Bank and those representing debtors, setting and pursuing the Bank’s agenda.
• Seek to minimize out‑of‑pocket legal and non‑legal expenses from debtors whenever possible, maximizing loan recoveries and fee income.
• Ensure BSA compliance.

Requirements

• Strong oral and written communication skills.
• Experience in commercial, real estate, and consumer lending, particularly credit structure and loan policy.
• Knowledge of complex credits and collateral valuation/liquidation.
• Familiarity with regulatory agencies, third‑party loan review, and internal/external auditors.
• Understanding of legal and regulatory requirements pertaining to banking and collections.
• Knowledge of regulatory guidelines regarding appraisal/re‑appraisal and other policies affecting classified/criticized assets.
• Strong negotiation skills.
• Ability to analyze credit and develop/negoti­ate repayment terms with companies and high‑net‑worth individuals.
• Ability to work independently and prioritize daily workflow.
• Ability to analyze and solve problems for which there are no precedents.
• Ability to maintain visual attention and mental concentration for extended periods.
• Ability to perform duties and make decisions under frequent time pressures.
• Bachelor’s degree in Accounting, Finance, or equivalent experience.
• Formal credit training.
• 5+ years of direct special assets experience.
• Current registration with the Nationwide Mortgage Licensing System & Registry (NMLS) per the SAFE Act; if not active at hire, must obtain immediately.
• Proficiency with Microsoft Office.

Compensation and Benefits

Base Pay Range: $103,000 – $134,000 per year. The role may be eligible for bonus or incentives based on company and individual performance.

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