Special Assets Officer

This position reports on-site.

Summary: The Special Assets Officer is responsible for managing a portfolio of problem and high-risk commercial and consumer loans. This role focuses on minimizing credit losses through proactive workout strategies, restructuring, collections, collateral management, and, when necessary, legal action. The Special Assets Officer works closely with borrowers, legal counsel, and internal stakeholders to develop and execute strategies that protect the bank’s interests while seeking practical resolutions. 

Duties and Responsibilities:

• Understands and complies with the requirements of all laws and regulations applicable to the position
• Manage an assigned portfolio of criticized, classified, and non-performing loans, including commercial, real estate, and consumer accounts.
• Conduct in-depth financial analysis, collateral evaluations, and borrower viability assessments to determine workout strategies.
• Develop and implement action plans to mitigate risk, including restructurings, forbearance agreements, repayment plans, or liquidation strategies.
• Partner with legal counsel to manage foreclosure, bankruptcy, litigation, and other legal proceedings as necessary.
• Monitor borrower compliance with covenants and agreements; maintain accurate and timely documentation of all activities.
• Prepare and present credit memos, risk assessments, and status updates to the Credit Committee, senior management, and regulators as required.
• Negotiate directly with borrowers and guarantors to maximize recoveries and preserve relationships where possible.
• Collaborate with internal teams, including Credit Administration, Loan Operations, and Compliance, to ensure adherence to regulatory and policy requirements.
• Participate in audits, regulatory exams, and portfolio reviews by providing accurate and comprehensive loan-level reporting.
• Contribute to policy, process, and control enhancements within the Special Assets function.
• Other duties as appropriate.

Supervisory Responsibilities: This position does not have supervisory responsibilities. Some travel may be required for borrower, property, and attorney meetings.

Qualifications: To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions. 

Education and/or Experience:

• Bachelor’s degree in Finance, Accounting, Business Administration, or related field (MBA or professional certification such as CRC or CTP preferred).
• 5 years of experience in commercial credit, loan workout, or special assets within a financial institution.
• Strong knowledge of commercial lending, loan structures, collateral valuation, bankruptcy, foreclosure, and regulatory requirements.

Skills

• Proven negotiation and problem-solving skills, with the ability to manage complex and sensitive borrower relationships.
• Excellent analytical, written, and verbal communication skills.
• Proficiency in Microsoft Office Suite; experience with banking systems and credit risk software preferred.
• Credit and Risk Analysis
• Negotiation and Conflict Resolution
• Regulatory and Compliance Knowledge
• Relationship Management
• Decision-Making and Accountability
• Communication and Presentation Skills

Physical Demands: The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions. 

While performing the duties of this job, the employee is regularly required to sit for long periods; use hands to operate controls on the computer; reach with hands and arms for phone and computer work; to communicate on the phone while wearing a headset for extended periods. The employee must occasionally lift and/or move up to 10 pounds. Specific vision abilities required by this job include close vision, distance vision, color vision, peripheral vision, and the ability to adjust focus. This job description is subject to change at any time.

First Foundation is an equal opportunity employer, and all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, protected veteran status, status as a qualified individual with a disability, sexual orientation, gender identity, or any other characteristic protected by law.