Senior Commercial Workout Special Assets Officer

Here at Commercial Alliance, we do more together. We thoughtfully prepare, we get stuff done, and we celebrate. Our colleague experience is second to none, attracting top talent from across the industry.

• Supportive Teams
• Inspiring spaces to work, recharge and collaborate

• Competitive Compensation
• Medical, Dental, and Vision Benefits
• Life Insurance
• Paid Time Off:
  Including vacation, sick days, bereavement, jury duty, disability, and holidays
• Employee Assistance Program
• 401k Match
• Tuition Reimbursement

Position: Senior Commercial Workout Special Assets Officer

Location: Troy, MI

Job : 162

# of Openings: 1

SENIOR COMMERCIAL WORKOUT SPECIAL ASSETS OFFICER

Commercial Alliance provides a comprehensive suite of lending services designed to help credit unions succeed with business members across six states. We are looking for an enthusiastic, self-motivated Commercial Workout Officer that will manage a portfolio of criticized,classified, and non-performing commercial relationships. Develop and execute workout strategies designed to maximize recovery, minimize losses, preserve collateral, and mitigate lender liability. Serve as a subject matter expert for commercial workouts, SBA servicing and liquidation matters, borrower negotiations, litigation coordination, and recovery strategy development.

ESSENTIAL DUTIES AND RESPONSIBILITIES:

• Independently manage a portfolio of criticized, classified, or non-performing commercial loan relationships from Credit Union affiliates.
• Develop and execute workout, restructuring, liquidation, or exit strategies for Commercial Real Estate, Commercial & Industrial, SBA, and other commercial credit relationships.
• Analyze borrower financial condition, collateral position, guarantor support, loan documentation, repayment capacity, and legal or operational risks to recommend appropriate action plans.
• Negotiate workout arrangements with borrowers, guarantors, attorneys, creditors, lending personnel, and other third parties within established legal and policy parameters.
• Prepare and present written recommendations for risk rating changes, non-accrual status, charge-off, reserves, workout strategy, litigation action, collateral disposition, or other portfolio actions.
• Coordinate with inside and outside counsel on litigation, foreclosure, bankruptcy, receivership, collections, loan document enforcement, and collateral recovery actions.
• Manage SBA workout and liquidation matters, including servicing requirements, liquidation plans, guaranty purchase support, charge-off/recovery documentation, and SOP compliance, as applicable.
• Evaluate, manage, and coordinate disposition of collateral and Credit Union-owned property, including Other Real Estate Owned, to maximize recovery and financial return.
• Conduct borrower meetings, collection calls, site visits, collateral inspections, and third-party vendor coordination to assess status and move action plans forward.
• Consult with lending, credit, legal, audit, loan operations, senior management, loan committees, and regulatory stakeholders regarding deteriorating credits and recommended courses of action.
• Develop and maintain relationships with workout vendors, including attorneys, property managers, environmental experts, appraisers, brokers, receivers, and liquidation specialists.
• Monitor progress of workout accounts, update action plans, adjust strategies as needed, and ensure timely follow-up to minimize and prevent loss.
• Mentor junior workout staff and provide practical guidance on documentation, borrower communication, analysis, and workout process expectations.
• Assist leadership with portfolio reporting, board or senior management materials, audit/exam support, policy recommendations, and Special Assets process improvements.
• Ensure the loan workout function is conducted in accordance with Credit Union/CUSO policies, procedures, documentation standards, and applicable statutory and regulatory requirements.
• Perform other duties as assigned.

QUALIFICATIONS:

Required

• Bachelor's degree in Business Administration, Finance, Accounting, Economics, or a related field, or equivalent combination of education and relevant experience.
• Seven or more years of commercial lending, commercial credit administration, Special Assets, loan workout, restructuring, asset recovery, or related financial services experience.
• Direct experience managing distressed Commercial Real Estate and/or Commercial & Industrial credit relationships.
• Experience with borrower negotiations, collateral analysis, bankruptcy/foreclosure coordination, attorney management, charge-off recommendations, non-accrual recommendations, and recovery strategies.
• Experience with SBA servicing, liquidation, guaranty purchase support, or SBA workout/recovery matters.
• Broad knowledge of banking, accounting, finance, commercial lending, loan documentation, and applicable regulatory expectations.
• Ability to calculate and interpret figures such as discounts, interest, commissions, percentages, ratios, proportions, collateral…