Special Assets Officer

Work Arrangement:

This position is available to work hybrid (2-3 days/week), or onsite at our Headquarters building in East Lansing, MI.

8:30a-5p (ET) with one later shift per week of 9:30a-6:30p. One Saturday shift from 9am-3pm every month.

An offer of employment with MSU Federal Credit Union and affiliates is contingent upon the agreed work arrangement (onsite/hybrid/remote) and work location. MSU Federal Credit Union may or may not be able to accommodate temporary or permanent changes to work arrangements or allow employment outside the city and/or state of residency in which the new hire resides at the time of offered employment.

• Salary Range: $28.00- $29.00/hr dependent on experience
• 100% Company-Paid Health, Dental, Vision, Life, and Long-Term Disability Premiums
• Up to 26 days of PTO within your first year, as well as Volunteer Time Off & 11 Paid Holidays
• 401(k) with a company match
• Tuition Reimbursement
• Up to 12 Weeks of Paid Parental Leave
• Learn more about our benefits here

• Oversee a portfolio of criticized, classified, and nonperforming commercial and consumer real estate loans, developing and executing individualized resolution and recovery strategies to minimize losses.
• Respond to inquiries from members, front line and other employees, and service providers. Communicate relevant Credit Union processes and procedures as appropriate to explain next steps and potential outcomes on defaulted commercial and consumer residential loans.
• Negotiate loan workouts, modifications, forbearances, restructures, and liquidation strategies directly with borrowers and guarantors, balancing loss mitigation with relationship management and regulatory guidance.
• Recommend impairments, chargeoffs, accrual/non-accrual status, and risk rating changes.
• Conduct site visits for new loan applications and annual reviews, and complete inspection reports.
• Analyze borrower financials, cash flow, collateral, and loan structures to assess viability, accrual status, and impairment/ALLLACL needs, and prepare concise reporting and written analyses for senior management, Credit Risk Committees, and regulators to support resolution decisions and compliance.
• Work closely with internal and external counsel, receivers, appraisers, and other vendors to manage defaults, foreclosures, bankruptcies, and other legal or enforcement actions in accordance with policy and regulatory requirements.
• Recommend improvements to Special Assets policies, procedures, and controls.
• Understand the Credit Union's policies and procedures to ensure compliance and accountability for managing operational risks. Adhere to established internal controls and procedures to safeguard assets, prevent fraud, and maintain the integrity of credit union operations.
• Perform other duties as assigned

• High School Diploma or equivalent is required.
• Prior experience in credit analysis, loan review, asset recovery, commercial or consumer real estate lending, special assets/workouts, collections, collateral management, SBA lending, foreclosure or bankruptcy processes, or related financial risk roles is required.
• NMLS number required in accordance with federal regulations.
• Fannie Mae secondary market eligibility required.

• Core Competencies that must be demonstrated by all Credit Union employees include Communicate, Navigate Change & Evolve, Solve Problems & Make Decisions, Plan, Prioritize, and Achieve, and Collaborate.

• Organizational Awareness
  :
  Understands and aligns actions with the organization's goals, core functions, needs, and values.
• Analytical Thinking
  :
  Breaks down complex information into smaller parts.
• Data Analysis
  :
  Analyzes and draws insights from relevant data. Uses storytelling to effectively communicate insights and actionable, data-informed recommendations.
• Adherence to Procedures
  :
  Includes knowledge of relevant external and internal policy and compliance procedures.
• Time Management
  :
  Manages time and resources to ensure that work is completed efficiently.
• Initiative
  :
  Takes proactive and prompt action to accomplish work goals. Takes action to achieve results beyond requirements.
• Organized
  :
  Arranges work in a systematic way either on small or large scales.
• Detail Oriented
  :
  Ensures information is complete and accurate. Adheres to processes as outlined. Follows up to ensure quality and completion of work.
• Teamwork
  :
  Works well with internal and cross-functional teams to achieve…