Special Assets Officer

Position Responsibilities

• Call and visit special credit customers and serve as primary borrower contact
• Manage and resolve high-risk and non-accrual loan portfolios
• Analyze borrower financials and determine appropriate classification (PD, LGD, accrual status)
• Develop and execute restructuring, liquidation, or foreclosure strategies
• Negotiate repayment terms with borrowers and represent the Association in mediations or legal proceedings
• Maximize recovery and minimize loss on distressed assets
• Maintain and monitor credit quality and risk trends within the distressed portfolio
• Recommend and review risk ratings and loan classifications, leading to improved timeliness, consistency, coordination and completeness of distressed loan identification
• Determine and recommend a specific reserve and/or charge off through review and approval of NRV worksheets on individually evaluated loans
• Ensure compliance with FCA regulations, borrower rights, and applicable lending laws
• Review loan documentation to ensure enforceability and proper structure
• Support allowance calculations and risk reporting
• Ensure timely (i) review of and response to all Applications for Restructuring and Loss Mitigation requests, (ii) documentation and implementation of approved applications, and (iii) foreclosure or other liquidation of collateral for applications not approved
• Serve as subject matter expert on distressed loans and special asset management
• Provide coaching and guidance to branch staff on restructuring, loss mitigation, and borrower rights
• Back up credit underwriting team as workload allows
• Collaborate with Credit, Legal, and Executive Leadership on special asset portfolio
• Support Loan Committee presentations and credit decision processes
• Ensure timely borrower notifications and regulatory compliance actions
• Prepare and validate regulatory, board, and internal reports on high-risk assets
• Maintain accurate documentation and audit-ready files for examinations
• Coordinate with auditors, regulators, and internal stakeholders on inquiries and reviews
• Prepare weekly summary report on status of special credits
• Prepare board reports, review/propose revisions to existing credit policies and procedures, develop/propose new credit policies and procedures, and ensure compliance with policy/procedure and laws/regulations through ongoing coaching and training
• Maintain loan servicing plans to ensure that plans address required aspects of Association’s loan servicing plan requirement guidance and FCA’s information memorandum
• Lead least cost analysis in collaboration with regional VPs
• Lead loan modification in collaboration with regional VPs
• Serve as liaison with attorneys, courts, and external vendors
• Track and manage litigation, bankruptcies, and foreclosure processes
• Review legal invoices and ensure compliance with engagement terms
• Coordinate collateral disposition, acquired property management, and recovery activities

Qualifications

• Bachelor’s degree in Accounting, Finance, Agriculture or related field
• 5-8 years of experience in lending, credit administration, special assets or other related field.
• Collection experience preferred.