VP, Special Assets

CoreVest American Finance Lender • Irvine, CA

480d • $150,000 - $175,000

About The Position

The Vice President of Special Assets is a strategic leadership role responsible for managing and resolving distressed or non-performing commercial mortgage loans and assets. This position requires extensive experience in asset management, loan workouts, and distressed debt restructuring, focusing on effective resolution and mitigation of credit risk.

Requirements

• Bachelor's degree in finance, real estate, business administration, or a related field; master's degree or professional certifications (e.g., CFA, CPA, CCIM) preferred.
• Minimum 10 years of experience in commercial real estate, finance, asset management, loan workout, or a related field, with a proven track record of successfully managing distressed assets.
• Strong understanding of commercial mortgage lending, loan structuring, underwriting principles, and legal documentation.
• Demonstrated leadership abilities with experience leading and developing high-performing teams in a dynamic and fast-paced environment.
• Analytical, negotiation, and communication skills, with the ability to interact effectively with internal and external stakeholders at all levels.
• Proficiency in financial modeling, Microsoft Excel, and other relevant software applications.
• Thorough knowledge of regulatory requirements and compliance standards related to commercial real estate lending asset management activities.

Responsibilities

• Manage a portfolio of distressed or non-performing assets, ensuring effective resolution and mitigation of credit risk.
• Develop and implement comprehensive strategies and action plans for resolving troubled assets, including loan modifications, restructuring, forbearance agreements and asset disposition.
• Conduct thorough financial analysis, risk assessments, and valuation reviews of troubled assets to evaluate potential recovery options and minimize losses.
• Collaborate with internal stakeholders, including senior management, loan origination teams, legal counsel, and external partners, to develop and execute work out strategies aligned with business objectives.
• Oversee the negotiation and documentation of workout agreements and legal settlements with borrowers, ensuring compliance with regulatory requirements and internal policies.
• Provide leadership and guidance to Special Assets team members including Asset Managers, Analysts, and support staff, fostering a culture of excellence collaboration and accountability.
• Monitor and track the performance of troubled assets, analyze trends, and prepare regular reports and updates for senior management and stakeholders.
• Build and maintain relationships with external parties, including borrowers, asset managers, brokers, and legal advisors, to facilitate asset management and resolution efforts.
• Perform other related duties or special projects as assigned.
• Supervise and mentor junior staff.

Benefits

• Discretionary corporate bonus program
• Multiple health plans
• Short-term and long-term disability options
• Company sponsored life insurance
• Fitness reimbursement
• Paid parental leave
• Time to volunteer
• Paid Time off
• Employee Stock Purchase Plan (ESPP)
• 401K matching

What This Job Offers

• Job Type: Full-time
• Career Level: Senior
• Industry: Credit Intermediation and Related Activities
• Education Level: Bachelor's degree