Special Assets Officer

City First Bank; Washington (District of Columbia); On-site; USD 90,000 - 120,000; Full time

Job summary

City First Bank is seeking a Special Assets Manager in Washington D.C. to manage complex criticized commercial loan relationships focusing on loss mitigation and compliance. The role demands 7+ years of commercial banking experience and the ability to execute strategies to return troubled assets to performing status. Responsibilities include overseeing loan workouts, managing third-party legal services, and presenting credit updates to management. This position emphasizes strong analytical skills and relationship management abilities.

Qualifications

• 7+ years of commercial banking experience including problem loan management.
• Demonstrated experience managing complex CRE and relationship-based credits.
• Strong knowledge of bankruptcy law and foreclosure processes.

Responsibilities

• Manage a portfolio of criticized, classified loans.
• Develop and execute resolution strategies to minimize loss.
• Lead loan workouts, restructures, and modifications.

Skills

Commercial credit analysis

CRE credit governance

Analytical skills

Relationship management

Risk rating systems

Education

Bachelor’s degree in Accounting, Business, Finance or related field

Tools

Microsoft Office

Job description

City First Bank N.A. is a mission‑driven Community Development Financial Institution focused on underserved urban markets.

ROLE SUMMARY

The Special Assets Manager is responsible for the independent management, oversight, and resolution of complex criticized and classified commercial loan relationships, including Commercial Real Estate (CRE) and C&I credits. The role focuses on loss mitigation, capital preservation, and regulatory compliance, while proactively identifying emerging risks and executing strategies to return troubled assets to performing status or achieve an optimal exit. The Special Assets Officer exercises independent credit judgment, works closely with lending, legal, and executive leadership, and plays a critical role in regulatory readiness and Board reporting.

ESSENTIAL FUNCTIONS AND RESPONSIBILITIES

• Manages an assigned portfolio of criticized, classified, non‑accrual, impaired, and restructured loans, including complex CRE and relationship‑based credits.
• Proactively identifies emerging credit concerns and assumes responsibility for loans migrating to Watch, Special Mention, Substandard, Doubtful, or Loss classifications.
• Develops, documents, and executes customized resolution strategies designed to maximize recovery, minimize loss, and align with regulatory expectations.
• Conducts on‑site inspections of collateral and borrower operations to assess condition, cash flow sustainability, and risk exposure.

Credit Governance & Risk Management

• Ensures accurate and timely risk rating assignments, accrual status determinations, impairment analysis, and charge‑off recommendations.
• Prepares and presents written credit memoranda, strategy updates, and risk rating justifications to internal Credit, Loan, Watch List, and Problem Loan Committees.
• Partners with Finance and Credit to support CECL qualitative and quantitative inputs related to criticized assets.
• Identifies portfolio‑level trends and root causes of deterioration and recommends policy, procedural, or underwriting enhancements.

Workout, Legal, and Enforcement Activities

• Leads and manages loan workouts, restructures, modifications, forbearance agreements, settlements, and exit strategies.
• Oversees loans involving bankruptcy (Chapters 7, 11, and 13), receiverships, litigation, foreclosure, deeds‑in‑lieu, and UCC remedies.
• Manages and directs external legal counsel, appraisers, environmental consultants, and other third parties to ensure cost‑effective and timely resolution.
• Reviews and coordinates the negotiation of loan documentation and enforcement actions in accordance with Bank policy and legal requirements.
• Performs and reviews global cash flow analysis, guarantor support assessments, stress testing, and collateral valuation sensitivity analysis.
• Reviews and evaluates updated appraisals, rent rolls, operating statements, environmental reports, and inspection findings.
• Assesses borrower and guarantor financial capacity, management quality, and operational viability to inform resolution decisions.

Regulatory, Audit & Reporting Responsibilities

• Serves as a subject matter expert during regulatory examinations, audits, and internal reviews related to criticized assets and special assets governance.
• Prepares criticized asset narratives, concentration analysis, and trend reporting for senior management and the Board of Directors.
• Ensures adherence to interagency guidance, loan policy, credit procedures, and applicable federal and state regulations.
• Responds promptly to regulatory, audit, and compliance findings and leads remediation efforts when necessary.
• Provides guidance and mentorship to Relationship Managers and Commercial Loan Officers on early‑warning indicators, risk mitigation, and borrower negotiations.
• Manages Collections Officers and third‑party collections vendors in an effort to optimize collection efforts.
• Leads by example, embodying City First Bank’s shared values of putting the customer and community FIRST, thinking BIG, modeling EXCELLENCE, and operating as ONE City First.

EDUCATION & EXPERIENCE

Required Education/Experience:

• Bachelor’s degree in accounting, Business, Finance, or a related field or an equivalent of 6+ years of progressive commercial banking experience.
• 7+ years of commercial banking experience, including 3–5 years in problem loan management, special assets, workout, or collections.
• Demonstrated experience managing complex CRE and relationship‑based credits.

CERTIFICATIONS (Preferred, Not Required)

• Certified Problem Loan Manager (CPLM)
• Certified Credit Officer (CCO)
• Formal training in credit analysis, bankruptcy, loan workouts or restructuring

KNOWLEDGE, SKILLS, AND ABILITIES

Required Knowledge & Skills:

• Strong knowledge of commercial and CRE credit analysis, risk rating systems, criticized/classified asset governance, and loan accounting.
• Working knowledge of bankruptcy law, foreclosure processes, collateral enforcement, and regulatory credit guidance.
• Ability to balance risk mitigation with relationship management in sensitive and high‑risk situations.
• Excellent oral, written, and presentation skills, including the ability to communicate complex issues to senior leadership and the Board.
• Strong analytical skills with the ability to make sound, independent credit judgments.
• Demonstrated ability to influence outcomes without direct authority and manage conflict professionally.
• Highly organized with strong time management skills and attention to detail.
• Proficient in Microsoft Office and banking credit systems.
• High degree of professional judgment, discretion, integrity, and accountability.