Special Assets Officer

Position Summary:

Work Arrangement: This position is available to work hybrid (2-3 days/week), or onsite at our Headquarters building in East Lansing, MI.

Schedule: 8:30a-5p (ET) with one later shift per week of 9:30a-6:30p. One Saturday shift from 9am-3pm every month.

An offer of employment with MSU Federal Credit Union and affiliates is contingent upon the agreed work arrangement (onsite/hybrid/remote) and work location. MSU Federal Credit Union may or may not be able to accommodate temporary or permanent changes to work arrangements or allow employment outside the city and/or state of residency in which the new hire resides at the time of offered employment.

Compensation & Benefits:

• Salary Range: $28.00- $29.00/hr dependent on experience

• 100% Company-Paid Health, Dental, Vision, Life, and Long-Term Disability Premiums

• Up to 26 days of PTO within your first year, as well as Volunteer Time Off & 11 Paid Holidays

• 401(k) with a company match

• Tuition Reimbursement

• Up to 12 Weeks of Paid Parental Leave

• Learn more about our benefits here

Essential Duties & Responsibilities:

Level 1:

• Oversee a portfolio of criticized, classified, and nonperforming commercial and consumer real estate loans, developing and executing individualized resolution and recovery strategies to minimize losses.
• Respond to inquiries from members, front line and other employees, and service providers. Communicate relevant Credit Union processes and procedures as appropriate to explain next steps and potential outcomes on defaulted commercial and consumer residential loans.
• Negotiate loan workouts, modifications, forbearances, restructures, and liquidation strategies directly with borrowers and guarantors, balancing loss mitigation with relationship management and regulatory guidance.
• Recommend impairments, chargeoffs, accrual/nonaccrual status, and riskrating changes.
• Conduct site visits for new loan applications and annual reviews, and complete inspection reports.
• Analyze borrower financials, cash flow, collateral, and loan structures to assess viability, accrual status, and impairment/ALLLACL needs, and prepare concise reporting and written analyses for senior management, Credit Risk Committees, and regulators to support resolution decisions and compliance.
• Work closely with internal and external counsel, receivers, appraisers, and other vendors to manage defaults, foreclosures, bankruptcies, and other legal or enforcement actions in accordance with policy and regulatory requirements.
• Recommend improvements to Special Assets policies, procedures, and controls.
• Understand the Credit Union's policies and procedures to ensure compliance and accountability for managing operational risks. Adhere to established internal controls and procedures to safeguard assets, prevent fraud, and maintain the integrity of credit union operations.
• Perform other duties as assigned

Job Requirements:

Level 1

• High School Diploma or equivalent is required.
• Prior experience in credit analysis, loan review, asset recovery, commercial or consumer real estate lending, special assets/workouts, collections, collateral management, SBA lending, foreclosure or bankruptcy processes, or related financial risk roles is required.
• NMLS number required in accordance with federal regulations.
• Fannie Mae secondary market eligibility required.

Competencies:

• Core Competencies that must be demonstrated by all Credit Union employees include Communicate, Navigate Change & Evolve, Solve Problems & Make Decisions, Plan, Prioritize, and Achieve, and Collaborate.

• Functional Competencies:

Physical Demands & Work Environment:

• May be required to remain in a stationary position for an extended period.
• Ability to operate standard office technology, equipment, and tools, which may include many hours of computer and phone usage.
• Occasionally needs to move about inside of an office area.
• Exposure to potentially hazardous condition, i.e. robbery. Receives detailed instructions and procedures to be followed to minimize the exposure.
• This position can work in hybrid or onsite working arrangements.
• This position may require occasional travel to off-site locations of varying states of repair for assessment and inspection, and may encounter environments that are dusty, cluttered, or otherwise unmaintained and include uneven surfaces.

Disclaimer:

• Please note this job description is not intended to be construed as an exhaustive list of all functions, responsibilities, skills, and abilities. Additional functions and requirements may be assigned by supervisors as deemed appropriate. This document does not represent a contract of employment, and MSU Federal Credit Union reserves the right to change this position description and/or assign tasks for the employee to perform, as MSUFCU may deem appropriate.
• MSUFCU is an affirmative-action, equal-opportunity employer.
• To perform this job successfully, an individual must be able to perform each essential job duty satisfactorily. Reasonable accommodation may be made to enable qualified individuals with disabilities to perform essential job functions.