Business Service Operations - Manager - Special Assets

Golden1; Sacramento (CA); On-site; USD 124,700 - 155,000; Full time

Benefits offered by this job

Market-competitive compensation

Career development opportunities

Work-life balance programs

Job summary

Golden1 in Sacramento seeks a Mgr - Special Assets to manage criticized and classified loan portfolios. This role requires strong analytical judgment, negotiation skills, and the ability to lead specialized teams while ensuring compliance and sound risk management practices.

Ideal candidates will have over 7 years of experience in commercial lending and an educational background in finance or a related field. Join us in a hybrid capacity and contribute to our commitment towards financially inclusive communities.

Qualifications

• 7+ years of experience in commercial lending or credit administration.
• Proven experience managing criticized/classified CRE and C&I portfolios.
• Experience partnering with legal counsel and vendors.

Responsibilities

• Manage a portfolio of criticized and classified loans.
• Develop workout strategies to minimize loss exposure.
• Lead negotiations concerning loan modifications.

Skills

Analytical judgment

Negotiation skills

Leadership

Education

Bachelor’s Degree in Finance, Accounting, Business, or Economics

Job description

Job Description

Job Title: Mgr - Special Assets

Status: Exempt

Reports to: Director - Business Lending

Department: Business Services Operations

Job Code: 12012

Pay Range: $124,700.00 - $155,000.00 Annually

Location: Hybrid

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.

WHAT YOU'LL DO

• 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 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, audits, and examiners, 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 to support early identification of problem loans, transfer criteria, and mitigation strategies.
• Engage and oversee third‑party vendors 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 and implement process improvement opportunities and contribute to best‑practice development for problem credit management.
• Perform other duties as assigned.
• Maintain a thorough understanding of credit‑related federal and state regulations, bank secrecy, and anti‑money‑laundering laws.
• Supervise, coach, and develop analysts and assigned staff, ensuring high‑quality work output and adherence to policies and regulatory expectations.
• Oversee workload distribution, provide guidance on complex cases, and support staff in developing technical and professional skills.
• Set clear team goals and priorities aligned with departmental objectives.
• Support hiring, onboarding, and ongoing training of team members.
• Foster a collaborative, positive, and mission aligned work environment that promotes engagement, accountability, and continuous improvement.

QUALIFICATIONS AND PREFERENCES

• Bachelor’s Degree in Finance, Accounting, Business, Economics, or related field required or
• Equivalent combination of education and experience required
• 7+ years Experience in commercial lending, credit administration, special assets/workout, or related functions. required and
• Proven experience managing criticized/classified CRE and C&I portfolios and executing workout, restructure, and liquidation strategies required and
• Experience partnering with legal counsel, third‑party vendors, and internal stakeholders to resolve complex commercial credit situations. required and
• Previous supervisory experience or demonstrated leadership of staff, such as analysts or portfolio support roles, strongly preferred required

WHY JOIN US

Golden 1 Credit Union provides its employees a market‑competitive and internally equitable total rewards compensation package through a variety of programs. These programs are designed to attract, motivate, and retain employees that drive and support the achievement of Our Mission, Vision, and Strategic Goals. The Credit Union is committed a total rewards philosophy built on; a comprehensive compensation package, well‑being and work‑life balance, career development and growth, rewards and recognition, and a commitment to Diversity, Equity and Inclusion. We believe in fostering a workplace where every employee is recognized, valued, and motivated to contribute their best.