Business Service Operations - Special Assets Program Manager

TITLE: SPECIAL ASSETS PROGRAM MANAGER
STATUS: EXEMPT
REPORT TO: DIRECTOR – BUSINESS LENDING
DEPARTMENT: BUSINESS SERVICE OPERATIONS
JOB CODE: 11997
PAY RANGE: $93,700.00 - $105,000.00 ANNUALLY

GENERAL DESCRIPTION:
The Special Assets Manager is responsible for the active management, resolution, and recovery of criticized, classified, and non performing commercial credit relationships, with emphasis on CRE and C&I loans. This individual contributor role leads borrower negotiations, workout and restructure strategies, collateral recovery efforts, and legal remedy processes to minimize losses and ensure timely resolution of distressed assets. The position also ensures compliance with internal policies, regulatory expectations, and documentation standards while providing clear communication and reporting to management and cross functional teams. The Special Assets Manager partners closely with Business Lending, Credit Administration, Legal, Finance, and external vendors to execute effective strategies and maintain a strong risk management framework.
TASKS, DUTIES, FUNCTIONS:
1. Manage a portfolio of criticized, classified, and non performing CRE and C&I loans, including troubled debt restructuring, covenant defaults, and forbearance situations.
2. Develop and execute individualized workout strategies, including restructures, repayment plans, settlements, collateral liquidation, and exit strategies to minimize loss exposure.
3. Lead negotiations with borrowers, guarantors, and counsel regarding loan modifications, forbearance agreements, and settlement terms.
4. Coordinate with internal and external legal counsel to pursue remedies such as foreclosure, UCC enforcement, receivership, litigation, bankruptcy claims, and collateral disposition.
5. Perform ongoing financial analysis, cash flow assessments, guarantor strength evaluations, and collateral reviews to determine risk ratings and appropriate action plans.
6. Recommend and document risk grade changes consistent with internal credit policy and regulatory guidance.
7. Prepare reporting and updates for management, committees, and audit/examiner requests, including criticized/classified reports, NPL updates, and recovery estimates.
8. Ensure complete and accurate credit files with current financials, action plans, memoranda, risk ratings, and workout documentation.
9. Partner with Business Lending teams to support early identification of problem loans, transfer criteria, and mitigation strategies.
10. Engage and oversee third party vendors (appraisers, brokers, property managers, consultants) related to collateral evaluation, monitoring, or disposition.
11. Support CECL, charge off recommendations, impairment analysis, and reserve forecasting in collaboration with Credit Risk and Finance.
12. Participate in internal audits, loan reviews, and regulatory examinations, and support remediation of findings.
13. Identify process improvement opportunities and contribute to best practice development for problem credit management.
14. Perform other duties as assigned.
15. Maintain a thorough understanding of state and federal laws and regulations related to credit union compliance including bank secrecy and anti-money laundering laws appropriate to the position
16. Foster a positive and engaging work environment for each team member by promoting skill development, coaching for improvement and growth, inspiring others through your words and actions, ensuring positive employee morale throughout Golden 1, and embracing our mission, vision and core values.
PHYSICAL SKILLS, ABILITIES, AND EXERTION UTILIZED IN THE PERFORMANCE OF THESE TASKS:
1. Effective oral and written communication skills required to be able to communicate clearly in person, by phone, and electronically.
2. Must possess sufficient manual dexterity to skillfully operate an on-line computer terminal and other standard office equipment, such as financial calculators, personal computer, facsimile machine and telephone.
ORGANIZATIONAL CONTACTS & RELATIONSHIPS:
1. INTERNAL: All levels of Staff/Management/Members/Third Parties.
2. EXTERNAL: Member Applicants and their related agents such as their CPA or Broker.
QUALIFICATIONS:
1. EDUCATION: Bachelor’s degree in finance, Accounting, Business, Economics, or related field; or equivalent combination of education and experience
2. EXPERIENCE:
◦ Minimum 5–8 years of experience in commercial lending, credit administration, special assets/workout, or related functions.
◦ Proven experience managing criticized/classified CRE and C&I portfolios and executing workout, restructure, and liquidation strategies.
◦ Experience partnering with legal counsel, third party vendors, and internal stakeholders to resolve complex commerc