Mgr - Special Assets

J  o  b    D  e  s  c  r  i  p  t  i  o  n

THE DETAILS

Job Code:

12012

Grade:

26S

Status:

Exempt

POSITION AND PURPOSE

The Manager - Special Assets 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 role includes direct management and development of staff, including analysts and other support roles, to ensure effective and timely execution of workout strategies and recovery processes.

The Manager- Special Assets leads borrower negotiations, workout and restructure strategies, collateral recovery efforts, and legal remedy processes to minimize losses and ensure timely resolution of distressed assets. This position ensures compliance with internal policies, regulatory expectations, and documentation standards while providing clear communication and reporting to management and cross‑functional teams. The Manager -Special Assets partners closely with Business Lending, Credit Administration, Legal, Finance, and external vendors to execute effective strategies and maintain a strong risk management framework.

WHO WE ARE

Golden 1 Credit Union is among the top credit unions in the country. As a member-owned, not-for-profit cooperative, Golden 1 is guided by the credit union philosophy of “people helping people.” We are committed to empowering our members and uplifting our communities as we create a more equitable and financially inclusive California. We welcome all who embrace our Core Values.

WHO YOU ARE

You are a seasoned commercial credit professional with deep expertise in managing and resolving criticized, classified, and non‑performing CRE and C&I loan relationships through disciplined workout, recovery, and risk mitigation strategies.

You are a collaborative and decisive leader who partners effectively with Business Lending, Credit Administration, Legal, Finance, and external stakeholders to drive timely resolutions while ensuring regulatory compliance, sound documentation, and strong risk management practices.

You bring strong analytical judgment, negotiation skills, and people leadership, enabling you to guide complex borrower situations, develop high‑performing teams, and protect the Credit Union’s financial strength while supporting sustainable outcomes.

THE WORK

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Manage a portfolio of criticized, classified, and non‑performing CRE and C&I loans, including troubled debt restructuring, covenant defaults, and forbearance situations.

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Develop and execute individualized workout strategies, including restructures, repayment plans, settlements, collateral liquidation, and exit strategies to minimize loss exposure.

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Lead negotiations with borrowers, guarantors, and counsel regarding loan modifications, forbearance agreements, and settlement terms.

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Coordinate with internal and external legal counsel to pursue remedies such as foreclosure, UCC enforcement, receivership, litigation, bankruptcy claims, and collateral disposition.

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Perform ongoing financial analysis, cash‑flow assessments, guarantor evaluations, and collateral reviews to determine risk ratings and appropriate action plans.

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Recommend and document risk grade changes consistent with internal credit policy and regulatory guidance.

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Prepare reporting and updates for management, committees, audits, and examiners, including criticized/classified reports, NPL updates, and recovery estimates.

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Ensure complete and accurate credit files with current financials, action plans, memoranda, risk ratings, and workout documentation.

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Partner with Business Lending to support early identification of problem loans, transfer criteria, and mitigation strategies.

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Engage and oversee third‑party vendors related to collateral evaluation, monitoring, or disposition.

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Support CECL, charge‑off recommendations, impairment analysis, and reserve forecasting in collaboration with Credit Risk and Finance.

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Participate in internal audits, loan reviews, and regulatory examinations and support remediation of findings.

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Identify and implement process improvement opportunities and contribute to best‑practice development for problem credit management.

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Perform other duties as assigned.

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Maintain a thorough understanding of credit‑related federal and state regulations, bank secrecy, and anti‑money‑laundering laws.

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Supervise, coach, and develop analysts and assigned staff, ensuring high-quality work output and adherence to policies and regulatory expectations.

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Oversee workload distribution, provide guidance on complex cases, and support staff in developing technical and professional skills.

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Set clear team goals and priorities aligned with departmental objectives.

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Support hiring, onboarding, and ongoing training of team members.

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Foster a collaborative, positive, and mission aligned work environment that promotes engagement, accountability, and continuous improvement

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Develop and maintain an understanding of the pertinent regulatory requirements and risks inherent to job responsibilities, establish, and maintain control activities that mitigate those risks consistent with the Credit Union’s risk appetite, and ensure operational integrity and compliance with applicable regulations.

QUALIFICATIONS

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Bachelor’s Degree in Finance, Accounting, Business, Economics, or related field required or

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Equivalent combination of education and experience required

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7+ years Experience in commercial lending, credit administration, special assets/workout, or related functions. required and

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Proven experience managing criticized/classified CRE and C&I portfolios and executing workout, restructure, and liquidation strategies required and

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Experience partnering with legal counsel, third‑party vendors, and internal stakeholders to resolve complex commercial credit situations. required and

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Previous supervisory experience or demonstrated leadership of staff, such as analysts or portfolio support roles, strongly preferred required

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Strong knowledge of commercial loan structures, cash‑flow‑based lending, collateral valuation, and CRE/C&I underwriting fundamentals.

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Expertise in workout strategies, loan documentation, and legal remedies (foreclosure, receivership, bankruptcy, UCC enforcement, settlements).

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Ability to analyze financial statements, tax returns, rent rolls, global cash flow, guarantor strength, and collateral value.

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Strong negotiation skills and professionalism in borrower interactions.

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Exceptional written and verbal communication skills, including preparation of credit memoranda and reporting.

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High attention to detail with strong organizational and time‑management skills.

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Proficiency with Microsoft Office, loan servicing systems, and document/workflow systems.

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Ability to work independently, prioritize competing deadlines, and maintain confidentiality and sound judgment.

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Ability to mentor, guide, and develop team members with varying skill levels.

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None

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Drives for Results - Ensures team meets goals 

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Collaborates Across Teams - Promotes inclusion and teamwork 

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Builds Trust and Credibility - Earns confidence through integrity

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Develops Others Through Feedback - Supports employee growth 

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Takes Initiative - Owns outcomes Builds

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Strategic Partnerships - Connects across functions

ORGANIZATIONAL CONTACTS AND RELATIONSHIPS

INTERNAL:

Partners closely with Business Lending, Credit Administration, Credit Risk, Legal, Finance, Loan Operations, Enterprise Risk, Compliance, and Audit to manage and resolve criticized and classified credits in a timely and compliant manner. Provides clear reporting and recommendations to executive management and credit related committees while leading and developing analysts and Special Assets staff to ensure high quality analysis, documentation, and execution.

EXTERNAL:

Engages directly with borrowers, guarantors, and authorized representatives to negotiate workout, restructuring, and resolution strategies. Coordinates with external legal counsel, appraisers, receivers, trustees, collateral disposition vendors, loan review firms, auditors, and regulatory examiners to support enforcement actions, collateral recovery, examinations, and recovery outcomes

WORKING CONDITIONS

Work time includes weekend and after-hours time, based on organizational needs. This position works in-office where working conditions, lighting, temperature, audio, and workspace are all sufficient.

PHYSICAL REQUIREMENTS

Work requires the ability to constantly operate a computer and the ability to read, type, and communicate. Work may require the ability to move work-related supplies weighing up to 10-15 pounds.

DISCLAIMER/INTENT AND FUNCTION OF JOB DESCRIPTIONS

The above information on this description has been designed to indicate the general nature and level of work performed by team members within this classification. Because the nature of positions and job functions can change over time, this job description is not designed to contain or be interpreted as a comprehensive inventory of all essential functions, duties, responsibilities and qualifications requirements of team members assigned to this job. Job duties may be changed or modified in the Credit Union’s discretion. The Credit Union will keep team members updated on key functions, duties, and requirements of their position by communications from the Credit Union and by updating the job description from time to time. Any team member with questions about the nature of their job duties is encouraged to consult with their supervisor.

DECLARATION/ACKNOWLEDGEMENT

This job description outlines the essential functions and physical/mental requirements necessary to perform this role. Reasonable accommodations may be made to enable individuals with disabilities to perform these essential functions.