Business Service Operations - Special Assets Program Manager

Golden 1 Talent Acquisition Team•Sacramento, CA

16h

About The Position

The Special Assets Manager is responsible for the active management, resolution, and recovery of criticized, classified, and non‑performing commercial credit relationships, with emphasis on CRE and C&I loans. This individual contributor role leads borrower negotiations, workout and restructure strategies, collateral recovery efforts, and legal remedy processes to minimize losses and ensure timely resolution of distressed assets. The position also ensures compliance with internal policies, regulatory expectations, and documentation standards while providing clear communication and reporting to management and cross‑functional teams. The Special Assets Manager partners closely with Business Lending, Credit Administration, Legal, Finance, and external vendors to execute effective strategies and maintain a strong risk management framework.

Requirements

Bachelor’s degree in finance, Accounting, Business, Economics, or related field; or equivalent combination of education and experience
Minimum 5–8 years of experience in commercial lending, credit administration, special assets/workout, or related functions.
Proven experience managing criticized/classified CRE and C&I portfolios and executing workout, restructure, and liquidation strategies.
Experience partnering with legal counsel, third‑party vendors, and internal stakeholders to resolve complex commercial credit situations.
Strong knowledge of commercial loan structures, cash‑flow‑based lending, collateral valuation, and CRE/C&I underwriting fundamentals.
Expertise in workout strategies, loan documentation, and legal remedies including foreclosure, receivership, bankruptcy, UCC enforcement, and settlement agreements.
Ability to analyze financial statements, tax returns, rent rolls, global cash flow, guarantor strength, and collateral value.
Strong negotiation skills with the ability to manage difficult borrower conversations professionally.
Exceptional written and verbal communication skills, including preparation of credit memoranda, action plans, and reporting.
High attention to detail with strong organizational and time‑management skills.
Proficiency with Microsoft Office applications, loan servicing systems, document management systems, and workflow tools.
Ability to work independently, prioritize competing deadlines, and maintain confidentiality and professional judgment.
Effective oral and written communication skills required to be able to communicate clearly in person, by phone, and electronically.
Must possess sufficient manual dexterity to skillfully operate an on-line computer terminal and other standard office equipment, such as financial calculators, personal computer, facsimile machine and telephone.
Prolonged sitting throughout the workday with occasional mobility required.
Corrected vision within the normal range.
Hearing within normal range. A device to enhance hearing will be provided if needed.
Occasional movements throughout the department daily to interact with staff, accomplish tasks, etc.
Ability to travel occasionally for borrower meetings, collateral site visits, or legal proceedings.

Nice To Haves

Certifications such as CTP, CRC, CCRA, CPA, or CFA are preferred but not required.

Responsibilities

Manage a portfolio of criticized, classified, and non‑performing CRE and C&I loans, including troubled debt restructuring, covenant defaults, and forbearance situations.
Develop and execute individualized workout strategies, including restructures, repayment plans, settlements, collateral liquidation, and exit strategies to minimize loss exposure.
Lead negotiations with borrowers, guarantors, and counsel regarding loan modifications, forbearance agreements, and settlement terms.
Coordinate with internal and external legal counsel to pursue remedies such as foreclosure, UCC enforcement, receivership, litigation, bankruptcy claims, and collateral disposition.
Perform ongoing financial analysis, cash‑flow assessments, guarantor strength evaluations, and collateral reviews to determine risk ratings and appropriate action plans.
Recommend and document risk grade changes consistent with internal credit policy and regulatory guidance.
Prepare reporting and updates for management, committees, and audit/examiner requests, including criticized/classified reports, NPL updates, and recovery estimates.
Ensure complete and accurate credit files with current financials, action plans, memoranda, risk ratings, and workout documentation.
Partner with Business Lending teams to support early identification of problem loans, transfer criteria, and mitigation strategies.
Engage and oversee third‑party vendors (appraisers, brokers, property managers, consultants) related to collateral evaluation, monitoring, or disposition.
Support CECL, charge‑off recommendations, impairment analysis, and reserve forecasting in collaboration with Credit Risk and Finance.
Participate in internal audits, loan reviews, and regulatory examinations, and support remediation of findings.
Identify process improvement opportunities and contribute to best-practice development for problem credit management.
Perform other duties as assigned.
Maintain a thorough understanding of state and federal laws and regulations related to credit union compliance including bank secrecy and anti-money laundering laws appropriate to the position
Foster a positive and engaging work environment for each team member by promoting skill development, coaching for improvement and growth, inspiring others through your words and actions, ensuring positive employee morale throughout Golden 1, and embracing our mission, vision and core values.