Special Assets Officer

First Foundation Inc.•Irvine, CA

38d•Onsite

About The Position

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.

Requirements

Bachelor's degree in Finance, Accounting, Business Administration, or related field
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.
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

Nice To Haves

MBA or professional certification such as CRC or CTP preferred.
experience with banking systems and credit risk software preferred.

Responsibilities

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.