Special Assets Officer

Job Responsibilities

• Manages a portfolio of classified commercial real estate/multi-family loans end-to-end
• Prepare and compile credit approval memos, including detailed financial analysis, relationship overviews, collateral assessments, and risk evaluations
• Identify emerging credit risks and trends early, timely report changes in risk to management, and implement corrective actions to minimize defaults, non-accrual loan status, and migration of impairments
• Develop, recommend and execute workout strategies and make necessary judgements to protect the bank’s interest and achieve maximum recovery
• Lead and manage negotiations with borrowers, guarantors, and third parties to protect the bank’s risk position and achieve maximum recovery
• Establish clear borrower performance expectations and actively monitor and enforce loan covenants, reporting requirements, and agreed-upon action plans
• Prepare formal credit memoranda, risk assessments, and recommendations for review and approval by senior credit authorities in accordance with delegated lending authorities and Special Assets Group Standards
• Review documentation for amendments, restructuring proposals, and litigation
• Interact with Sr. Management and loan officers to compile financial forecasts, including credit deterioration and project losses and recoveries
• Perform quarterly reserve analysis, charge-off calculations, and credit cost forecasting

Required Qualifications

• Education level required: Undergraduate Degree (4 years or equivalent), Business Administration, Finance, or related field
• Minimum experience required: 5+ Years within the Workout/Special Assets field, preferably at an OCC regulated institution
• Familiarity with various loan databases