Special Assets Officer

About the role

The Special Assets Officer manages a portfolio of distressed commercial real estate/multifamily loans, and/or C&I Loans and assists with reporting and litigation matters. Collaborates/works with Special Assets Team Leads and Analysts while supporting efforts to preserve principal and prevent charge-offs. Maintains compliance with policy, procedure and lending regulations.

Responsibilities

• Manage a portfolio of classified commercial real estate/multi-family, and/or C&I 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, restructure 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.
• Perform special projects, and additional duties and responsibilities as required.

Requirements

• Education: Undergraduate Degree (4 years or equivalent) in Business Administration, Finance, or related field.
• Experience: 6+ years within the Workout/Special Assets field, preferably at an OCC regulated institution.
• Familiarity with various loan databases.
• Preferred: 7+ years of relevant work experience.
• Strong knowledge of and ability to interpret real estate documentation.
• Strong knowledge of real estate policies, procedures and related lending laws.
• Computer literate with proficiency in Word and Excel.
• Excellent verbal and written communication skills.
• Excellent organizational skills with ability to multitask.
• Detail oriented and ability to prioritize workload in a fast paced environment.
• Ability to work independently while also collaborating effectively in a team environment.
• Strong financial analysis skills.
• Demonstrates a strong ability to build and maintain effective relationships with stakeholders by communicating clearly, engaging in proactive collaboration, and leveraging cross functional insights.
• Aligns relationship building efforts with enterprise goals to accelerate performance and drive strategic results.
• Builds trusted client relationships, whether internal or external, by identifying needs and delivering tailored solutions to enhance the overall client experience.
• Fosters or supports a positive work culture and productive work environment, displaying importance of effective relationships with customers and stakeholders.
• Consistently adheres