Special Assets Department Manager

Program Manager & Director of Talent / Ex-TikTok & Morgan Stanley Full Time Onsite SVP, Special Asset Department Manager Department: Special Assets Reports To: Chief Credit Officer Salary: $150,000 to $170,000 annual (Negotiable) Base pay range $150,000.00/yr - $170,000.00/yr POSITION OVERVIEW TASA365s Client, a community bank organization in multiple statesCalifornia, Hawaii, Texas, and aiming to open East Coast brancheshas its headquarters in Los Angles. We are seeking a Special Asset Department Manager in Los Angles, CA. The manager reports directly to the Chief Credit Officer, leads a team of asset managers and analysts, and collaborates closely with legal, credit, and collections departments. The role is responsible for overseeing the management and resolution of distressed and non?performing loans (NPLs) within the banks loan portfolio, minimizing losses, maximizing recoveries, and ensuring regulatory compliance while maintaining the community?focused values of the bank. DEPARTMENT OVERVIEW The Special Assets Department is dedicated to managing and resolving distressed assets within the banks portfolio. It plays a crucial role in mitigating risks and maximizing recoveries to ensure the banks financial stability. POSITION SUMMARY The Special Asset Department Manager oversees the management and resolution of distressed and non?performing loans (NPLs) within the banks loan portfolio, minimizing losses, maximizing recoveries, and ensuring regulatory compliance. The Manager handles a portfolio of underperforming or defaulted SBA?guaranteed loans, overseeing collections, loss mitigation, workouts, charge?offs, and recovery efforts in compliance with SBA Standard Operating Procedures (SOPs). The Manager oversees marketing and disposition of Other Real Estate Owned (OREO) properties acquired through foreclosure or deed?in?lieu, preserving assets, marketing them, and selling to maximize recovery while complying with regulatory and internal policy requirements. KEY RESPONSIBILITIES Lead the Special Assets team in managing and classified loans. Develop and execute strategies for loan workouts, restructures, and recoveries. Collaborate with legal counsel, credit officers, and external consultants on foreclosure, litigation, and asset disposition. Maintain detailed documentation and reporting for internal and regulatory purposes. Conduct regular portfolio reviews and risk assessments. Serve as a liaison with borrowers to negotiate repayment plans or settlements. Ensure compliance with banking regulations and internal credit policies. REQUIRED QUALIFICATIONS Bachelors degree in Finance, Accounting, or related field. 10+ years of experience in commercial lending, credit risk, or special assets. Strong knowledge of loan documentation, bankruptcy, and foreclosure processes. Excellent negotiation, analytical, and leadership skills. Familiarity with community banking values and customer relationship management. PREFERRED ATTRIBUTES Experience with legal proceedings related to loan enforcement and bankruptcy. Experience working with external legal counsel and asset recovery firms. Experience with the Universal Purchase Package (UPP), a standardized document developed by the SBA to streamline the process for lenders requesting that the SBA honor its guaranty on 7(a) loans. Experience working in a community bank or regional financial institution. Ability to balance risk management with customer service. Strong interpersonal skills and a collaborative mindset. REPORTING STRUCTURE The Special Asset Department Manager reports directly to the Chief Credit Officer and leads a team of asset managers and analysts, collaborating closely with legal, credit, and collections departments. Performance Metrics Reduction in non?performing loans (NPLs). Recovery rate of distressed assets. Compliance with regulatory requirements. Efficiency in loan workout and restructuring processes. Customer satisfaction and retention rates. SBA-Related Responsibilities Manage and oversee distressed SBA loans within the banks portfolio. Develop strategies for the recovery and resolution of non?performing SBA loans. Collaborate with SBA representatives and legal counsel on loan workouts and restructures. Ensure compliance with SBA guidelines and regulations during asset recovery processes. Prepare detailed reports on the status and performance of SBA loans for internal and regulatory review. Manage a portfolio of delinquent or non?performing SBA 7(a) and 504 loans. Develop and implement resolution strategies including workouts and forbearance. Prepare and submit SBA?required documentation such as liquidation plans, site visit reports, and repurchase packages. Coordinate with legal counsel, third?party vendors, and SBA representatives during the servicing and recovery processes. Conduct collateral analysis and determine recovery strategies. Maintain accurate records and reporting for internal and SBA audits. Monitor and report on portfolio performance, recovery rates, and loss mitigation outcomes. SBA-Related Qualifications Experience with SBA loan programs and regulations. Proven track record in managing distressed SBA loans and asset recovery. Strong understanding of SBA loan documentation and compliance requirements. Ability to negotiate and restructure SBA loans effectively. Excellent analytical and problem?solving skills related to SBA finances. Additional Compensation and Benefits Residents only: The salary range and benefits for California, Colorado, Connecticut, Nevada, New Jersey, New York, Rhode Island, or Washington residents vary from $150,000 $170,000 per year based on the level of experience. Pay is based on several factors including but not limited to education, work experience, certifications, etc. In addition to salary, the organization offers a comprehensive benefits package (Medical, Dental, Vision, and Life Insurance, 401(k) retirement savings plan, and paid federal holidays). Must be authorized to work in the US. Equal Employment Opportunity Employer Our client organization is committed to equal employment opportunities. It is their policy to hire individuals based on merit and qualifications without any regard to any legally protected category, including but not limited to age, citizenship, color, disability, gender, gender identity or expression, marital, domestic partnership or civil union status, military or veteran status, national origin, ancestry, pregnancy, pregnancy?related conditions, breastfeeding, race, religion, sex, affectional/sexual orientation, atypical hereditary cellular or blood trait, medical condition, or any other characteristic protected under applicable law. Seniority level Mid?Senior level Employment type Full?time Job function Management and Finance Industries Banking and Financial Services #J-18808-Ljbffr