VP Special Assets

GreenState Credit Union•North Liberty, IA

20h

About The Position

The VP Special Assets is a key leadership role responsible for managing and overseeing a portfolio of high-risk and non-performing loans and distressed assets to mitigate credit losses and maximize recoveries for the credit union. This role involves developing and executing strategic action plans, negotiating loan workouts, ensuring regulatory compliance, and providing expert guidance to senior management and junior team members. GREENSTATE CULTURE: At GreenState, our purpose is to create lasting value for our members, our communities, and one another. We empower our teams to create opportunities that strengthen financial well-being, transform lives, and enhance the vitality of the communities we serve. We know our success—now and in the future—is deeply rooted in fostering an engaging, diverse, and inclusive workplace where everyone knows they matter, their work makes an impact, and their everyday commitment to living our values is what brings our mission to life. Salary range for this position is $186.985.50 - $218,607.74 with a progressive benefit package.

Requirements

Bachelor's degree in Finance, Accounting, Business Administration, or a related field.
Minimum of 10+ years of commercial banking or related experience, with a proven track record in special assets, credit risk, and/or portfolio management.
Minimum of 5+ years of management experience.
Expert knowledge of commercial lending, underwriting, loan structures, and credit risk management principles.
In-depth knowledge of financial and legal processes related to default, foreclosure, bankruptcy, and asset recovery.
Exceptional negotiation, analytical, and problem-solving skills, with a focus on data-driven decision-making.
Strong verbal and written communication skills, with the ability to present complex information clearly to senior audiences.
Proven leadership skills, including the ability to manage and motivate a team in a demanding environment.
Proficiency in Microsoft Office applications and relevant banking/CRM software.
Ability to develop and maintain departmental policies, procedures, training and monitoring.

Nice To Haves

Experience working for a large financial institution is preferred.
Experience in restructuring commercial loans, distressed asset management, and non-performing loan workouts.

Responsibilities

Formulate and implement workout strategies, including loan modifications, restructurings, forbearance agreements, and liquidation where necessary, to minimize loss exposure.
Lead negotiations with debtors, borrowers, and guarantors to secure payment arrangements and resolve complex credit situations.
Act as a primary liaison with external and internal legal counsel, auditors, and third-party vendors (e.g., collection agencies, appraisers, property managers, legal firms).
Conduct comprehensive financial statement and cash flow analyses, monitor collateral adequacy, and review all relevant loan and legal documentation to ensure accuracy and compliance.
Ensure strict adherence to internal policies, procedures, and relevant state and federal regulations.
Prepare detailed reports and presentations on portfolio performance, risk analysis, and recovery efforts for executive management, the Board of Directors, and regulators.
Oversee and mentor special assets teams, providing coaching and training to foster a productive and knowledgeable department.
Collaborate with cross-functional teams, including Lending, Finance and Credit Administration to identify early warning signs of credit deterioration and improve overall processes.