Special Assets Officer

Summary

The Special Assets Officer leads and manages the Association’s portfolio of high-risk, delinquent, and non-performing assets. Ensures effective resolution strategies that balance risk mitigation, regulatory compliance, and customer outcomes. Provides oversight of distressed loan servicing, restructuring, litigation, and asset recovery processes. Serves as the primary liaison across credit, legal, risk, and branch teams to ensure consistent execution of special asset strategies.

• Special Asset Portfolio Management
  • 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
  • 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 enforce ability and proper structure
  • Support allowance calculations and risk reporting
  • Ensure timely review and response to all Applications for Restructuring and Loss Mitigation requests, documentation and implementation of approved applications, and foreclosure or other liquidation of collateral for applications not approved
• Risk Oversight & Credit Administration
  • 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 enforce ability and proper structure
  • Support allowance calculations and risk reporting
  • Ensure timely review and response to all Applications for Restructuring and Loss Mitigation requests, documentation and implementation of approved applications, and foreclosure or other liquidation of collateral for applications not approved
• Branch & Organizational Support
  • 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
• Compliance, Reporting & Audit Coordination
  • 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
• Legal & External Coordination
  • Serve as liaison with attorneys, courts, and external vendors
  • Track and manage litigation,…