Special Assets Associate I

First Citizens Innovation Banking; New York (NY); Hybrid; USD 66,000 - 98,000; Full time

Job summary

First Citizens Innovation Banking in New York is seeking an experienced specialist to support Special Assets with debt restructuring and portfolio management in a dynamic banking environment.

The role requires strong credit and financial analysis, collaboration with clients and internal partners, and the ability to navigate multiple bank systems. Hybrid work and on-site presence in NY are expected.

Qualifications

• Bachelor's Degree OR High School Diploma or GED/Equivalent and 3 years' experience in Credit Training or Financial Analysis
• Bachelor’s Degree in Accounting, Finance, or Credit
• 1 year experience in Commercial Banking or Problem Loan Management
• Strong financial analysis and accounting skills
• Ability to review and analyze credit and financial information; strong communication skills

Responsibilities

• Underwriting: Process Management - Assists in the review of the assigned portfolio for credit quality and credit risk rating accuracy and notes any policy exceptions. Requires underwriting skills on a variety of technology/life sciences verticals as well as credit products. Prepares quarterly credit review packages as well as credit committee minutes.
• Reporting/Portfolio Management - Maintains credit files, monitors past dues, prepares underwriting packages, interfaces and collaborates with operations, and contacts clients to obtain financial information. Assists in the preparation of quarterly Individual Assessments. Knowledge of Credit Policy, Risk Rating Matrices, and Bank systems - Must understand and have the ability to navigate a number of Bank systems.
• Knowledge of Lending Products and Restructuring - May manage a small number of less complex accounts and/or charge-offs, including recommending and implementing strategies to mitigate loss and interacting with clients directly. Requires basic negotiation skills, basic understanding of workout strategies, and strong credit acumen.

Skills

Credit analysis

Financial analysis

Negotiation

Communication skills

Portfolio monitoring

Education

Bachelor’s degree

High School Diploma or GED

Job description

Overview

This is a hybrid role with the expectation that time working will regularly take place inside and outside of a company office.

Overview

This is a hybrid role with the expectation that time working will regularly take place inside and outside of a company office.

The Special Assets Group plays a critical role in protecting the bank's portfolio and supporting clients through periods of financial stress, operational challenges, and strategic transition. The team manages higher-risk and adversely graded credit relationships across the Technology, Life Science and Healthcare Innovation Bank portfolio and works closely with company management teams, boards, venture capital investors, private equity sponsors, and internal business partners.

The team seeks to maximize recovery, minimize losses, and preserve franchise value while maintaining constructive relationships with borrowers, sponsors, management teams, and investors. Through thoughtful problem solving and a deep understanding of the innovation ecosystem, the Special Assets Group helps navigate complex situations and deliver balanced outcomes for both clients and the bank.

This role supports the portfolio management of a variety of problem loans. Primary responsibilities will include underwriting / executing debt restructuring and portfolio management. The ideal candidate will have the ability to work in a dynamic / fast paced environment, managing a variety of deal stages and types, with a strong attention to detail.

Responsibilities & Qualifications

Duties & Responsibilities:

• Underwriting: Process Management - Assists in the review of the assigned portfolio for credit quality and credit risk rating accuracy and notes any policy exceptions. Requires underwriting skills on a variety of technology/life sciences verticals as well as credit products. Prepares quarterly credit review packages as well as credit committee minutes.
• Reporting/Portfolio Management - Maintains credit files, monitors past dues, prepares underwriting packages, interfaces and collaborates with operations, and contacts clients to obtain financial information. Assists in the preparation of quarterly Individual Assessments. Knowledge of Credit Policy, Risk Rating Matrices, and Bank systems - Must understand and have the ability to navigate a number of Bank systems.
• Knowledge of Lending Products and Restructuring - May manage a small number of less complex accounts and/or charge-offs, including recommending and implementing strategies to mitigate loss and interacting with clients directly. Requires basic negotiation skills, basic understanding of workout strategies, and strong credit acumen.

Position Specific Skills

• Credit Portfolio Monitoring
• Builds Productive Relationships
• Financial Analysis

Qualifications

Minimum Required Education and Experience: Bachelor's Degree OR High School Diploma or GED/Equivalent and 3 years' experience in Credit Training or Financial Analysis

Preferred

• Bachelor’s Degree in Accounting, Finance, or Credit
• 1 year experience in Commercial Banking or Problem Loan Management
• Strong financial analysis and accounting skills
• Ability to review and analyze credit and financial information Knowledge of financial principles and concepts
• Strong communication skills

Additional Information

If hired in Massachusetts, the base pay for this position is generally between $63,000 and $97,000. If hired in New York, the base pay for this position is generally between $66,000 and $98,000. Actual starting base pay will be determined based on skills, experience, location, and other non-discriminatory factors permitted by law. For some roles, total compensation may also include variable incentives, bonuses, benefits, and/or other awards as outlined in the offer of employment. Benefits are an integral part of total rewards and First Citizens Bank is committed to providing a competitive, thoughtfully designed and quality benefits program to meet the needs of our associates. More information can be found at https://jobs.firstcitizens.com/benefits.