Special Assets Manager

Craft3•Washington, DC

8d•$135,000 - $155,000•Hybrid

About The Position

Reporting to the Chief Credit Officer, the Special Assets Manager handles a portfolio of criticized, classified, delinquent, and other high risk commercial loans. This role is responsible for identifying emerging credit risk, developing, and executing workout and recovery strategies, minimizing losses, maximizing recoveries, and supporting viable borrowers through financial challenges. The position works closely with Lending, Credit Risk Management, Loan Servicing, and Finance to protect asset quality while advancing Craft3's mission of expanding equitable access to capital throughout the Pacific Northwest.

Requirements

5-7 years of experience in commercial lending, credit administration, special assets, loan workouts, portfolio management, or a related field.
Experience analyzing commercial financial statements, cash flow, tax returns, collateral, and repayment capacity.
Experience working with distressed borrowers and negotiating complex credit solutions.
Familiarity with bankruptcy, foreclosure, receivership, litigation, and collection practices.
Ability to independently manage multiple complex borrower relationships and competing priorities.
Bachelor's degree in finance, Business, Accounting, Economics, or a related field, or an equivalent combination of education and experience.

Nice To Haves

Experience serving racially, ethnically, and socioeconomically diverse communities preferred.
Strong knowledge of commercial credit analysis, loan structuring, commercial real estate lending, loan documentation, and collateral management.
Excellent analytical, negotiation, problem-solving, and communication skills.
Ability to balance prudent risk management with relationship preservation and mission-driven lending objectives.

Responsibilities

Manage a portfolio of adversely rated loans, including Watch, Special Mention, Substandard, non-accrual, and other high-risk relationships.
Monitor borrower performance, financial reporting, covenant compliance, collateral values, and guarantor support; identify emerging credit risks and recommend appropriate risk rating and classification changes.
Analyze financial statements, tax returns, cash flow, collateral, guarantor strength, and repayment capacity.
Develop and execute workout, restructuring, rehabilitation, and recovery strategies for criticized, classified, and charged-off credits.
Negotiate loan modifications, forbearance agreements, payment plans, extensions, renewals, and other restructuring solutions.
Prepare credit memorandums, action plans, and recommendations supporting credit decisions and approval requests.
Lead collection and recovery efforts for delinquent and non-performing loans.
Coordinate foreclosure, bankruptcy, receivership, litigation, collateral liquidation, OREO management, and other enforcement activities with legal counsel and external professionals.
Monitor expected losses, recoveries, reserve requirements, and charge-off recommendations.
Maintain accurate documentation and reporting related to workout strategies, credit actions, and regulatory compliance.
Conduct borrower meetings, site visits, financial reviews, and collateral inspections.
Collaborate with Relationship Managers and external partners to address borrower stress, preserve viable businesses, and minimize credit losses.
Participate in Special Assets Committee and portfolio review meetings.
Maximize recoveries while minimizing losses, costs, and reputational risk.