Special Assets Officer

MSUFCU • East Lansing, MI

10h • Hybrid

About The Position

This position is available to work hybrid (2-3 days/week), or onsite at our Headquarters building in East Lansing, MI. The schedule is 8:30a-5p ET with one later shift per week of 9:30a-6:30p, and 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.

Requirements

• 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.

Responsibilities

• Oversee a portfolio of criticized, classified, and non-performing 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, charge-offs, accrual/non-accrual status, and risk-rating 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/ALLL-ACL 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.

Benefits

• 100% Company-Paid Health, Dental, Vision, Life, and Long-Term Disability Premiums
• Up to 26 days of PTO within your first year
• Volunteer Time Off
• 11 Paid Holidays
• 401(k) with a company match
• Tuition Reimbursement
• Up to 12 Weeks of Paid Parental Leave

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: High school or GED