Special Assets Officer; Hybrid Eligible

Position Overview

The Special Credits Officer is responsible for the management of troubled commercial banking relationships and/or adversely graded commercial loans within the Bank’s portfolio assigned to the Special Credits Officer. This role may also include providing advisory services to Relationship Managers managing their own problem loans. The position is responsible for mitigating risk and maximizing recovery through the active engagement of these relationships.

Location:

This is a hybrid position, subject to WaFd Bank’s guidelines.

Salary: USD $ per year or USD $ per year.

• Manage troubled commercial banking relationships and/or adversely graded commercial loans assigned to the Senior Special Credits Officer.
• Obtain and review financial information and collateral valuations to assess current financial condition and repayment sources to formulate a recommended action plan.
• Analyze and negotiate modification and/or forbearance terms, as appropriate.
• Provide recommendations for appropriate action plans for assigned relationships.
• Mitigate losses through active engagement and administration of approved action plans, which may include modifications or forbearances, foreclosure, receivership action, deeds in lieu of foreclosure, short sales, disposition of collateral or other legal actions to recover monies due.
• Monitor and provide reporting and recommendations for risk rating changes and impairments to management regarding the current status and action plan for relationships managed.
• Monitor collateral conditions through inspections as needed.
• Review loan documentation to identify any errors and/or deficiencies.
• Communicate directly with borrowers, bank employees, and others in a professional and courteous manner.
• Work closely with attorneys, and manage their actions in foreclosure, litigation, and other legal and collection activities.
• Follow the Bank’s Information Security policies, ensuring that the processing and handling of client and confidential bank information is done in a secure manner and environment.
• Avoid all real or perceived conflicts of interest and always maintain client privacy and confidentiality.
• Complete and pass all assigned eLearning courses and certifications as required.
• Adhere to and ensure staff adherence to bank policies and procedures designed to comply with Federal regulations, including but not limited to the Bank Secrecy Act, USA Patriot Act and OFAC regulations. Ensure timely and accurate preparation of Currency Transaction Reports, Suspicious Activity Reports and other recordkeeping requirements.
• Complete special projects as assigned.
• Completes any other job-related duties as assigned by manager or supervisor.

• Strong experience with loan documentation, closing documentation, title reports, appraisals and supporting underwriting criteria.
• Experience in management of complex CRE and C&I relationships.
• Knowledge and experience with bankruptcy and foreclosure laws and processes.
• Experience in managing and disposing of business and income property assets.
• Excellent analytical and organizational skills and the ability to work independently and as a team with little supervision.
• Strong working knowledge and competency in analyzing financial statements and cash flow.
• Demonstrated professional business communication and people skills, plus the ability to work successfully with all layers of an organization.
• Strong organizational skills and the ability to make decisions, work independently, and handle multiple priorities.
• Must have a thorough working knowledge of Microsoft Office and data management.

• Minimum of five years’ experience in commercial banking and problem loan administration.

• Paid time off for vacation, sick days and holidays
• Health insurance
• Stock options
• Bonus programs
• 401(k) plan
• Paid Parental Leave
• Life and AD&D insurance
• Long‑term disability
• Tuition Reimbursement
• Employee assistance programs
• Pre‑tax health and dependent‑care spending plans

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