Special Assets Officer - Innovation Bank (Hybrid)

First Citizens Bank; San Francisco (CA); Hybrid; USD 105,000 - 145,000; Full time

Job summary

First Citizens Innovation Bank in San Francisco offers a hybrid Senior Special Assets role focused on managing distressed credit relationships, performing financial and collateral analysis, and guiding workout strategies across a dynamic innovation banking portfolio.

You will coordinate with company management, boards, investors and sponsors, prepare credit memoranda, and drive restructurings, amendments, forbearances, and other recovery actions in collaboration with senior leadership.

Qualifications

• Bachelor's Degree and 2 years of experience in Credit Training or Financial Modeling, valuation and credit OR High School Diploma or GED and 6 years of experience in Credit Training or Financial Modeling, valuation and credit.

Responsibilities

• Manage a portfolio of criticized, classified, and distressed credit relationships, performing ongoing financial, operational, collateral, and liquidity analysis to assess risk and recommend appropriate workout strategies.
• Lead the evaluation, structuring, negotiation, approval, and execution of credit actions, including amendments, waivers, forbearance agreements, restructurings, repayment plans, and other resolution alternatives.
• Serve as the primary contact for assigned relationships, engaging with company management teams, boards, investors, sponsors, advisors, and other stakeholders to develop and implement effective workout and recovery strategies.
• Prepare and present credit memoranda, risk rating recommendations, reserve assessments, and portfolio updates to senior management and credit approval authorities.
• Maintain expertise in restructuring, bankruptcy, workout, and distressed credit practices while supporting team development through collaboration, knowledge sharing, and mentorship of junior professionals.

Skills

Negotiation

Financial analysis

Financial modeling

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. This is a hybrid position based in Denver, CO; Los Angeles or San Francisco, CA; New York, NY; or Boston, MA.

At First Citizens Innovation Bank, formerly Silicon Valley Bank, you'll do more than support innovative companies, you'll help shape their success. With more than 40 years of experience serving the innovation economy, our teams work closely with clients across technology, life sciences, healthcare, venture capital, private equity, and other innovation-driven sectors providing specialized banking solutions, industry insights, and meaningful connections that help businesses scale and thrive. We combine deep expertise, lasting relationships and meaningful opportunities to help our clients, communities and associates move forward together. Find out more at First Citizens Innovation Banking.

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 Innovation Bank portfolio and works closely with company management teams, boards, venture capital investors, private equity sponsors, and internal business partners. Responsibilities include credit restructuring, amendment and forbearance negotiations, liquidity and recovery analysis, collateral assessment, bankruptcy oversight, and other risk mitigation initiatives. 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.

Responsibilities & Qualifications

Duties and Responsibilities:

• Manage a portfolio of criticized, classified, and distressed credit relationships, performing ongoing financial, operational, collateral, and liquidity analysis to assess risk and recommend appropriate workout strategies.
• Lead the evaluation, structuring, negotiation, approval, and execution of credit actions, including amendments, waivers, forbearance agreements, restructurings, repayment plans, and other resolution alternatives.
• Serve as the primary contact for assigned relationships, engaging with company management teams, boards, investors, sponsors, advisors, and other stakeholders to develop and implement effective workout and recovery strategies.
• Prepare and present credit memoranda, risk rating recommendations, reserve assessments, and portfolio updates to senior management and credit approval authorities.
• Maintain expertise in restructuring, bankruptcy, workout, and distressed credit practices while supporting team development through collaboration, knowledge sharing, and mentorship of junior professionals.

Position Specific Skills:

Ability to negotiate and influence others

Knowledge of financial principles and concepts

Ability to interpret financial information and create effective models

Qualifications:

Bachelor's Degree and 2 years of experience in Credit Training or Financial Modeling, valuation and credit OR High School Diploma or GED and 6 years of experience in Credit Training or Financial Modeling, valuation and credit

Preferred Qualifications:

• 4+ years of commercial banking, credit, portfolio management, restructuring, or special assets experience, preferably supporting venture-backed and growth-stage companies within the innovation economy.
• Strong financial analysis and modeling, credit underwriting, negotiation, and credit writing skills, with the ability to independently manage borrower and stakeholder relationships.

Additional Information

If hired in CO, the base pay for this position is generally between $102,300 and $136,400. If hired in Boston/LA/SF/NYC, the base pay for this position is generally between $105,000 and $145,000. 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.

This job posting is expected to remain active for 45 days from the initial posting date listed above. If it is necessary to extend this deadline, the posting will remain active as appropriate. Job postings may come down early due to business need or a high volume of applicants.

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.

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