Special Assets Manager

Tri City National Bank; West Allis (WI); On-site; USD 90,000 - 130,000; Full time

Benefits offered by this job

401(k) with company match

Tuition reimbursement

Medical, dental, and vision coverage

Paid vacation and more

Job summary

Tri City National Bank in West Allis, WI seeks a Special Assets Manager to lead the collection team, manage a large loan portfolio, and drive workout strategies while ensuring regulatory compliance. This on-site role requires deep expertise in commercial and consumer debt resolution and risk management.

You will oversee negotiations, provide executive reporting, and coordinate with legal counsel, Credit Administration, and management to minimize losses and maximize recoveries.

Qualifications

• Bachelor's degree in a related field or equivalent experience.
• 5+ years in commercial and consumer loan workouts, Special Assets, collections, and problem credit management.
• Experience with Freddie Mac, Fannie Mae, bankruptcy servicing, OREO management, collateral liquidation, receiverships.
• Knowledge of consumer lending regulations and bankruptcy laws.
• Prior management experience within a financial institution.
• Strong ability to assess complex credit situations and negotiate effectively.

Responsibilities

• Manage a portfolio of commercial problem loans, including criticized/classified credits and non-accrual loans.
• Monitor delinquencies and develop resolution strategies to minimize losses and maximize recoveries.
• Provide leadership and coaching to Special Assets and Collection staff.
• Identify signs of credit deterioration and collaborate to develop action plans.
• Analyze borrower financials, collateral values, and industry trends to assess risk.
• Develop and implement workout and recovery strategies, including restructures and settlements.
• Negotiate with borrowers, guarantors, and attorneys to protect bank interests.
• Maintain documentation of collection activities and status per procedures.
• Coordinate with internal/external counsel on bankruptcy and litigation actions.
• Oversee collateral protection, asset disposition, and sale of OREO and repossessed assets.
• Prepare portfolio and risk reports for committees and regulators.
• Ensure compliance with banking regulations and internal controls.

Skills

Credit risk assessment

Loan workout experience

Negotiation

Leadership

Regulatory compliance

Financial analysis

Communication

Education

Bachelor's degree in Finance/Accounting/Business Administration/Economics

Tools

Collections systems

Job description

Overview

Invest In You! Tri City National Bank is not just a bank; it's your community banking partner, deeply committed to prioritizing customers, building strong relationships, and fostering a sense of belonging. Our team-oriented environment offers exceptional opportunities for personal and professional growth, celebrating success, and providing excellent benefits along the way. We believe in unparalleled customer service and the right banking solutions to help fulfill financial dreams and contribute to community growth.

The Special Assets Manager is responsible for managing and resolving criticized, classified, non-performing, and other higher-risk credit relationships. This role develops and implements workout, restructuring, collection, liquidation, and recovery strategies to minimize credit losses, maximize recoveries, protect collateral positions, and return viable relationships to performing status while ensuring compliance with bank policies, regulatory requirements, and applicable laws.

The Special Assets Manager oversees all collection activities for an approximately $1.1 billion loan portfolio and $220 million serviced loan portfolio, providing leadership and direction for the collection team and overall department performance. Working closely with Credit Administration, internal and external legal counsel, the court system, taxing authorities, federal agencies, and Bank Management, this role supports effective collection and recovery efforts while helping to ensure the sound management, accounting, profitability, and operational effectiveness of the Special Assets and collection functions.

This position is located on site at our Operations Center in West Allis, WI.

Responsibilities

• Manage a portfolio of commercial problem loans, including criticized/classified credits, non-accrual loans, troubled debt restructurings, charge-offs, and foreclosed or repossessed collateral.
• Monitor loan delinquencies across commercial, retail, GSE, and MPF portfolios, developing and executing resolution strategies to minimize losses and maximize recoveries.
• Provide leadership, coaching, and oversight to Special Assets and Collection staff, supporting borrower outreach and repayment strategies to achieve timely resolutions.
• Identify signs of credit deterioration and collaborate with lenders, Credit Administration, Loan Operations, and senior management to develop appropriate action plans.
• Analyze borrower financial performance, collateral values, guarantor support, lien positions, repayment capacity, loan documentation, and industry trends to assess risk and potential loss exposure.
• Develop, document, and implement workout and recovery strategies, including restructures, modifications, repayment plans, collateral liquidation, note sales, settlements, litigation, foreclosure, bankruptcy actions, and charge-off recommendations.
• Negotiate with borrowers, guarantors, attorneys, trustees, receivers, consultants, and other stakeholders to achieve cost‑effective resolutions that protect the Bank's interests.
• Maintain comprehensive documentation of collection activities, borrower communications, risk assessments, action plans, approvals, and resolution status in accordance with Bank procedures.
• Coordinate with internal and external legal counsel on bankruptcy proceedings, foreclosure actions, collateral recovery, litigation, judgments, settlements, and other legal remedies.
• Oversee collateral protection and asset disposition activities, including insurance and tax monitoring, lien perfection, collateral inspections, appraisals, environmental matters, and the management and sale of OREO and repossessed assets.
• Prepare and present portfolio, risk, recovery, and loss reports to credit committees, executive management, board committees, auditors, and regulatory examiners.
• Ensure compliance with banking regulations, loan policies, collection requirements, charge‑off procedures, government‑guaranteed loan requirements, and internal control standards.
• Support risk rating recommendations, reserve and impairment analyses, problem loan reporting, credit administration initiatives, and the timely processing of loan renewals and extensions to minimize delinquencies.

Qualifications

Required Qualifications

• Bachelor’s degree in Finance, Accounting, Business Administration, Economics, or a related field; equivalent Special Assets, workout, or collections experience may be considered in lieu of a degree.
• Five or more years of experience in commercial and consumer loan workouts, Special Assets, collections, and problem credit management, including commercial real estate, C&I, construction, SBA/government‑guaranteed lending, residential mortgages, home equity, consumer lending, and overdraft accounts.
• Experience with Freddie Mac, Fannie Mae, bankruptcy servicing, OREO management, collateral liquidation, receiverships, environmental due diligence, and bankruptcy proceedings.
• Extensive knowledge of consumer lending regulations and bankruptcy laws, including Chapters 7, 11, 12, and 13, with the ability to manage and service bankrupt borrower relationships.
• Prior management experience required, including at least one year of supervisory experience within a financial institution.
• Strong understanding of commercial and consumer loan structures, financial statement analysis, collateral valuation, risk ratings, loan documentation, collections, foreclosure, bankruptcy, and regulatory requirements.
• Demonstrated ability to assess complex credit situations, develop effective resolution strategies, and negotiate successfully with borrowers, attorneys, and other third parties.
• Working knowledge of bank policies, credit administration processes, loan review standards, charge‑off practices, and applicable banking laws and regulations.
• Strong written and verbal communication skills, including the ability to prepare action plans, management reports, and executive‑level presentations.
• Experience implementing, enhancing, or managing collections systems and processes.
• Experience working with regulators, auditors, loan review teams, executive credit committees, and board‑level reporting.
• Demonstrated professionalism, sound judgment, confidentiality, attention to detail, and ability to prioritize competing demands.

Key Competencies

• Credit risk assessment and problem loan resolution
• Financial analysis and collateral evaluation
• Negotiation and conflict resolution
• Regulatory compliance and policy administration
• Sound judgment and decision‑making
• Leadership, coaching, and team development
• Relationship management and cross‑functional collaboration
• Executive reporting, documentation, and communication
• Organization, accountability, and results orientation

Why Join Us:

• Community Impact: Be part of a local bank deeply rooted in community values, contributing to the growth and prosperity of our neighborhoods.
• Innovation: Embrace a dynamic and evolving work environment that encourages fresh perspectives and continuous learning.
• Career Growth: Unlock future opportunities for personal and professional development as you navigate through our Pathways for Success.
• Celebration of Success: Join a team that values and celebrates individual and collective achievements.
• Work Life Balance: No early mornings or late nights, enjoy a predictable schedule with major holidays off.
• Great Employee Benefits that start on the 1st of the month after your hire date!
  • Part-Time:
    • 401(k) with company match
    • Up to 20 hours of paid vacation after 6 months
  • Full-Time:
    • 401(k) with company match
    • Tuition reimbursement
    • Medical, dental, and vision coverage
    • Paid vacation and more!

Equal Opportunity Employer/Veterans/Disabled

All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, or protected veteran status and will not be discriminated against on the basis of disability.

Reasonable Accommodation

If you are an individual with a disability and would like to request a reasonable accommodation as part of the employment selection process, please contact Human Resources at 414-761-1610 or [e-mail]

(**Must be 21 to enroll in 401(k), and must work an average of 20+ hours per week in order to be eligible for paid vacation.)