Special Assets Officer

Michigan State University Federal Credit Union; East Lansing (MI); Hybride; USD 39 000 - 40 000; Plein temps

Avantages offerts par ce poste

Company-paid health/dental/vision/LTD

PTO 26 days first year

Résumé du poste

MSU Federal Credit Union in East Lansing, MI, seeks a Special Assets Officer to manage distressed asset portfolios, coordinate collateral recovery, and ensure regulatory compliance. The role includes reviewing credit documentation, negotiating workouts, and preparing analyses for senior management.

The position offers hybrid/onsite work arrangements, with a schedule including one weekend shift per month. The salary ranges from $28.00 to $29.00 per hour, depending on experience, and includes

Qualifications

• High School Diploma or equivalent is required.
• Experience in credit analysis, loan review, asset recovery, or related risk roles is required.
• NMLS number required in accordance with federal regulations.
• Fannie Mae secondary market eligibility required.
• Core competencies: communicate, navigate change & evolve, solve problems & make decisions, plan, prioritize, and achieve, and collaborate.

Responsabilités

• Oversee a portfolio of criticized, classified, and non‑performing commercial and consumer real estate loans, developing and executing individualized resolution and recovery strategies to minimize losses.
• Respond to inquiries from members, front line and other employees, and service providers. Communicate relevant Credit Union processes and procedures as appropriate to explain next steps and potential outcomes on defaulted loans.
• Negotiate loan workouts, modifications, forbearances, restructures, and liquidation strategies directly with borrowers and guarantors, balancing loss mitigation with relationship management and regulatory guidance.
• Recommend impairments, charge‑offs, accrual/non‑accrual status, and risk‑rating changes.
• Conduct site visits for new loan applications and annual reviews, and complete inspection reports.
• Analyze borrower financials, cash flow, collateral, and loan structures to assess viability, accrual status, and impairment/ALLL‑ACL needs, and prepare concise reporting and written analyses for senior management, Credit Risk Committees, and regulators to support resolution decisions and compliance.
• Work closely with internal and external counsel, receivers, appraisers, and other vendors to manage defaults, foreclosures, bankruptcies, and other legal or enforcement actions in accordance with policy and regulatory requirements.
• Recommend improvements to Special Assets policies, procedures, and controls.
• Understand the Credit Union's policies and procedures to ensure compliance and accountability for managing operational risks. Adhere to established internal controls and procedures to safeguard assets, prevent fraud, and maintain the integrity of credit union operations.
• Perform other duties as assigned

Connaissances

Credit analysis

Loan review

Asset recovery

Commercial/RE lending

SBA lending

Foreclosure

Regulatory compliance

Formation

High School Diploma or equivalent

Description du poste

The Special Assets Officer supports the Credit Union’s asset recovery efforts in alignment with its mission and strategic objectives. This position is responsible for handling a variety of distressed asset situations, including residential and commercial collections and foreclosures. This position coordinates collateral recovery with approved third‑party service providers and ensures compliance with all collateral preservation requirements—such as inspections, maturities, covenant monitoring, and financial reporting—and assists in preparing Credit Union‑owned assets for disposition. Duties also involve reviewing credit application and analysis, collateral, SBA, and legal documentation to assess collateral position, identify discrepancies, and minimize risk exposure.

Work Arrangement: This position is available to work hybrid (2-3 days/week), or onsite at our Headquarters building in East Lansing, MI.

Schedule: 8:30a-5p (ET) with one later shift per week of 9:30a-6:30p. One Saturday shift from 9am-3pm every month.

An offer of employment with MSU Federal Credit Union and affiliates is contingent upon the agreed work arrangement (onsite/hybrid/remote) and work location. MSU Federal Credit Union may or may not be able to accommodate temporary or permanent changes to work arrangements or allow employment outside the city and/or state of residency in which the new hire resides at the time of offered employment.

• Salary Range: $28.00- $29.00/hr dependent on experience
• 100% Company-Paid Health, Dental, Vision, Life, and Long-Term Disability Premiums
• Up to 26 days of PTO within your first year, as well as Volunteer Time Off & 11 Paid Holidays
• Oversee a portfolio of criticized, classified, and non‑performing commercial and consumer real estate loans, developing and executing individualized resolution and recovery strategies to minimize losses.
• Respond to inquiries from members, front line and other employees, and service providers. Communicate relevant Credit Union processes and procedures as appropriate to explain next steps and potential outcomes on defaulted commercial and consumer residential loans.
• Negotiate loan workouts, modifications, forbearances, restructures, and liquidation strategies directly with borrowers and guarantors, balancing loss mitigation with relationship management and regulatory guidance.
• Recommend impairments, charge‑offs, accrual/non‑accrual status, and risk‑rating changes.
• Conduct site visits for new loan applications and annual reviews, and complete inspection reports.
• Analyze borrower financials, cash flow, collateral, and loan structures to assess viability, accrual status, and impairment/ALLL‑ACL needs, and prepare concise reporting and written analyses for senior management, Credit Risk Committees, and regulators to support resolution decisions and compliance.
• Work closely with internal and external counsel, receivers, appraisers, and other vendors to manage defaults, foreclosures, bankruptcies, and other legal or enforcement actions in accordance with policy and regulatory requirements.
• Recommend improvements to Special Assets policies, procedures, and controls.
• Understand the Credit Union's policies and procedures to ensure compliance and accountability for managing operational risks. Adhere to established internal controls and procedures to safeguard assets, prevent fraud, and maintain the integrity of credit union operations.
• Perform other duties as assigned

Job Requirements:

Level 1

• High School Diploma or equivalent is required.
• Prior experience in credit analysis, loan review, asset recovery, commercial or consumer real estate lending, special assets/workouts, collections, collateral management, SBA lending, foreclosure or bankruptcy processes, or related financial risk roles is required.
• NMLS number required in accordance with federal regulations.
• Fannie Mae secondary market eligibility required.
• Core Competencies that must be demonstrated by all Credit Union employees include Communicate, Navigate Change & Evolve, Solve Problems & Make Decisions, Plan, Prioritize, and Achieve, and Collaborate.

Functional Competency

Behavioral Description

Organizational Awareness

Understands and aligns actions with the organization’s goals, core functions, needs, and values.

Analytical Thinking

Breaks down complex information into smaller parts.

Data Analysis

Analyzes and draws insights from relevant data. Uses storytelling to effectively communicate insights and actionable, data-informed recommendations.

Adherence to Procedures

Includes knowledge of relevant external and internal policy and compliance procedures.

Time Management

Manages time and resources to ensure that work is completed efficiently.

Initiative

Takes proactive and prompt action to accomplish work goals. Takes action to achieve results beyond requirements.

Organized

Arranges work in a systematic way either on small or large scales.

Detail Oriented

Ensures information is complete and accurate. Adheres to processes as outlined. Follows up to ensure quality and completion of work.

Teamwork

Works well with internal and cross-functional teams to achieve individual, team, department, and/or organizational goals. Values diverse perspectives and working with others to achieve the best outcome possible.

Resilience

Thrives and grows in a rapidly changing and complex environment. Displays flexibility, utilizes networks, and adopts a continuous growth mindset to learn from mistakes and bounce back from adversity.

Physical Demands & Work Environment:

• May be required to remain in a stationary position for an extended period.
• Ability to operate standard office technology, equipment, and tools, which may include many hours of computer and phone usage.
• Occasionally needs to move about inside of an office area.
• Exposure to potentially hazardous condition, i.e. robbery. Receives detailed instructions and procedures to be followed to minimize the exposure.
• This position can work in hybrid or onsite working arrangements.
• This position may require occasional travel to off‑site locationsofvarying states ofrepairforassessment and inspection,and mayencounterenvironments that are dusty, cluttered, or otherwise unmaintainedand include uneven surfaces.

Disclaimer:

• Please note this job description is not intended to be construed as an exhaustive list of all functions, responsibilities, skills, and abilities. Additional functions and requirements may be assigned by supervisors as deemed appropriate. This document does not represent a contract of employment, and MSU Federal Credit Union reserves the right to change this position description and/or assign tasks for the employee to perform, as MSUFCU may deem appropriate.
• MSUFCU is an affirmative‑action, equal‑opportunity employer.
• To perform this job successfully, an individual must be able to perform each essential job duty satisfactorily. Reasonable accommodation may be made to enable qualified individuals with disabilities to perform essential job functions.

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities
This employer is required to notify all applicants of their rights pursuant to federal employment laws.For further information, please review the Know Your Rights notice from the Department of Labor.