Special Assets Manager

Wollborg Michelson Recruiting; Sacramento (CA); On-site; USD 100,000 - 130,000; Full time

Job summary

Wollborg Michelson Recruiting is seeking a Special Assets Manager in Sacramento, California, to oversee and resolve criticized and non-performing commercial loans. You will manage a portfolio of troubled debt and lead negotiations to achieve timely and compliant resolutions while developing team capabilities.

The ideal candidate will have a Bachelor's degree in finance or a related field, along with at least 7 years of experience in commercial lending. Strong leadership skills and commercial credit expertise are essential for success in this role.

Qualifications

• 7+ years of experience in commercial lending, credit administration, special assets/workout, or related functions.
• Proven experience managing criticized/classified CRE and C&I portfolios and executing workout strategies.
• Experience partnering with legal counsel and internal stakeholders.

Responsibilities

• Manage a portfolio of criticized, classified, and non-performing CRE and C&I loans.
• Develop and execute individualized workout strategies to minimize loss exposure.
• Lead negotiations with borrowers and counsel regarding loan modifications.

Skills

Advanced commercial credit analysis and risk assessment skills

Strong negotiation and conflict-resolution abilities

Expertise in workout, recovery, and collateral liquidation strategies

Effective communication and relationship-building skills

Strong organizational skills

Education

Bachelor's degree in finance, accounting, business, economics, or a related field

Tools

Credit, loan management, and reporting systems

Job description

Special Assets Manager

Job Summary

Oversee and resolve criticized, classified, and non-performing commercial real estate (CRE) and commercial and industrial (C&I) loan relationships through disciplined workout, recovery, and risk mitigation strategies. Lead negotiations and collaborate with internal teams and external stakeholders to achieve timely, compliant, and well-documented resolutions while maintaining strong risk management practices and developing team capabilities.

Responsibilities

• Manage a portfolio of criticized, classified, and non-performing CRE and C&I loans, including troubled debt restructurings, 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, non-performing loan 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 teams 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 analysis, charge-off recommendations, impairment analysis, and reserve forecasting in collaboration with credit risk and finance teams.
• 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.
• 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 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.

Requirements

• Bachelor's degree in finance, accounting, business, economics, or a related field, or an equivalent combination of education and experience.
• 7+ years of experience in commercial lending, credit administration, special assets/workout, or related functions.
• Proven experience managing criticized/classified CRE and C&I portfolios and executing workout, restructure, and liquidation strategies.
• Experience partnering with legal counsel, third-party vendors, and internal stakeholders to resolve complex commercial credit situations.
• Previous supervisory experience or demonstrated leadership of staff, such as analysts or portfolio support roles, strongly preferred.

Skills

• Advanced commercial credit analysis and risk assessment skills.
• Strong negotiation and conflict-resolution abilities.
• Expertise in workout, recovery, and collateral liquidation strategies.
• Working knowledge of relevant banking, credit, and regulatory requirements.
• Ability to interpret complex financial statements and cash-flow projections.
• Effective communication and relationship-building skills with internal and external stakeholders.
• Strong organizational skills with the ability to manage multiple complex cases simultaneously.
• Leadership, coaching, and team development capabilities.
• Proficiency with credit, loan management, and reporting systems.

Summary Qualification

• Bachelor's degree or equivalent experience in a finance-related discipline.
• Extensive background in commercial credit, special assets, and loan workout.
• Demonstrated success resolving criticized and non-performing CRE and C&I credits.
• Track record of effective collaboration with legal, credit risk, and finance teams.
• Proven ability to lead and develop a high-performing credit workout team.

Wollborg Michelson Recruiting is an Equal Opportunity Employer and prohibits discrimination of any kind. We ensure job offers are made based on one’s employment experience, skills, and qualifications, regardless of race, gender, ethnic origin, or any other classification protected by law. All applicants must furnish proper identification to prove their legal right to work in the US upon a job offer. We participate in E-Verify to confirm one's right to work in the US. Wollborg Michelson Recruiting does not provide sponsorship for an employment-based visa status.