Special Assets Officer I (Hybrid)

First Citizens Bank•Boston, MA

2d•Hybrid

About The Position

This hybrid position is based in Denver, Colorado; Los Angeles or San Francisco, California; New York, New York; or Boston, Massachusetts. Work regularly takes place both inside and outside a company office. The role assists with managing a portfolio of stressed and distressed assets to minimize losses to the Bank. Its primary focus is maximizing recoveries and minimizing losses on stressed and distressed loan and equity positions through restructuring efforts that bridge to an exit or turnaround. Exposures may be bilateral, participations in syndicated facilities, or agent-led transactions.

Requirements

Bachelor’s degree and 2 years of experience in credit training or financial modeling, valuation, and credit; or a high school diploma or GED and 6 years of experience in those areas.
Ability to negotiate and influence others.
Knowledge of financial principles and concepts.
Ability to interpret financial information and create effective models.

Nice To Haves

Preferred areas of study: Accounting, Finance, or Credit.
Preferred areas of experience: Commercial Banking or Advisory.

Responsibilities

Analyze portfolio financials for stressed and distressed assets and create models to structure borrower workout strategies.
Prepare and process portfolio reviews, credit action applications, and upgrade or downgrade memos.
Work with team leaders to develop, implement, and monitor restructured strategies.
Assist team leaders in negotiating amendments, waivers, restructuring proposals, and other necessary credit documentation.
Maintain current knowledge of practices and regulations relevant to managing stressed and distressed portfolios and ensure adherence to regulations and Bank policies and procedures.
Perform due diligence to identify risks associated with credit actions.
Interface with multiple internal business units to support the timely, efficient, and compliant management and resolution of stressed and distressed portfolios.