Special Assets Officer

Our client, a $350Million Community Bank, has asked us to assist in the search for a Special Assets Officer to add to their team.

This position is responsible for managing the bank’s portfolio of criticized and classified loans, non-performing assets, and other real estate owned (OREO) across both commercial and consumer.

Essential Responsibilities:

• Develop and execute individual asset resolution plans, including loan modifications, forbearance agreements, deeds-in-lieu, short sales, and foreclosure proceedings.
• Conduct or coordinate property inspections, appraisal reviews, environmental assessments, and title work related to collateral evaluation.
• Prepare and present credit approval memoranda, criticized asset reports, and status updates to senior management and the board.
• Manage OREO assets from acquisition through disposition, including property management, marketing, and sale.
• Maintain ongoing communication with borrowers, guarantors, legal counsel, receivers, brokers, and other third parties.
• Monitor and ensure timely compliance with regulatory requirements, including accrual status, charge-off, and reserve adequacy.
• Partner with lenders to identify emerging problem credits early and provide workout strategy guidance.
• Support internal and external loan review, audit, and regulatory examination processes.
• Develop, maintain, and monitor watch lists and action plans for criticized and classified credits, ensuring timely updates, accurate risk ratings, resolution strategies, milestones, and progress toward resolution.
• Monitor and manage past due loans, coordinating with relationship managers to address delinquencies, implement collection strategies, and escalate credits as appropriate.

Key Requirements:

• Bachelor’s degree in Finance, Accounting, Business, or a related field; equivalent experience considered.
• Strong credit analysis skills with ability to interpret financial statements, tax returns, and collateral valuations.
• Familiarity with loan documentation, UCC filings, title insurance, and real estate collateral concepts.
• Knowledge of foreclosure, bankruptcy, and receivership processes; experience with OREO management and disposition preferred.
• Experience with commercial real estate workouts, including retail, office, industrial, and multifamily assets.
• Familiarity with OCC/FDIC/state banking regulatory guidance on problem asset management.
• Ability to work independently, manage competing priorities, and exercise sound judgment under pressure.