Special Assets Officer

Job Title

Special Assets Officer

Location

Washington, DC 20009

Work Arrangement: Hybrid – 3 days in office

Client

City First Bank N.A.

Website

City First Bank

Salary

$145,000 – $155,000 annually (160k max for rockstar)

15% cash bonus, 6% equity

About the Client

City First Bank N.A. is a mission-driven Community Development Financial Institution (CDFI) focused on supporting economic development in underserved urban communities.

The bank provides commercial lending and financial services primarily across three areas:

Multifamily Affordable Housing

Nonprofit Finance

Small Business Finance

With more than $1.3 billion in bank assets as of December 31, 2025, City First Bank has more than 100 employees across its Washington, DC and Los Angeles/Inglewood locations.

The organization focuses on responsible commercial lending while creating meaningful economic opportunities within the communities it serves.

Job Summary

The Special Assets Officer will independently manage and resolve complex commercial loan relationships that have become criticized, classified, impaired, or otherwise distressed.

This position will oversee a portfolio of Commercial Real Estate (CRE) and Commercial & Industrial (C&I) loans and develop strategies to minimize losses, preserve capital, manage risk, and return troubled loans to performing status when possible.

The role will work closely with senior leadership, lending teams, legal counsel, finance, credit committees, regulators, and external advisors.

The ideal candidate will have strong experience in commercial banking, special assets, loan workouts, credit analysis, restructuring, and problem loan management.

Key Responsibilities

Problem Loan & Portfolio Management

Manage a portfolio of criticized, classified, non-accrual, impaired, and restructured commercial loans.

Oversee complex CRE and relationship-based credits.

Identify emerging credit risks and determine appropriate risk classifications.

Develop and execute customized workout and resolution strategies.

Conduct collateral and borrower site inspections.

Work to maximize recovery and minimize potential losses.

Credit & Risk Management

Review and maintain accurate risk ratings and accrual status.

Analyze impairment and charge-off recommendations.

Prepare credit memoranda, risk-rating documentation, and strategy updates.

Present recommendations to Credit, Loan, Watch List, and Problem Loan Committees.

Work with Finance and Credit teams on CECL-related inputs.

Identify trends and root causes of credit deterioration and recommend improvements to underwriting and credit policies.

Loan Workouts & Legal Matters

Lead loan workouts, restructurings, modifications, forbearance agreements, settlements, and exit strategies.

Manage distressed credits involving bankruptcy, receiverships, litigation, foreclosure, deeds-in-lieu, and UCC remedies.

Coordinate with outside attorneys, appraisers, environmental consultants, and other third-party professionals.

Review and coordinate loan documentation and enforcement activities.

Financial & Collateral Analysis

Conduct global cash-flow analysis and guarantor assessments.

Perform stress testing and collateral sensitivity analysis.

Review appraisals, rent rolls, operating statements, environmental reports, and inspection findings.

Evaluate borrower and guarantor financial strength, management capabilities, and business viability.

Use financial and collateral analysis to determine appropriate resolution strategies.

Regulatory & Reporting

Serve as a subject matter expert during regulatory examinations, audits, and internal reviews.

Prepare criticized-asset narratives, concentration analysis, and portfolio trend reports.

Provide reporting to senior management and the Board of Directors.

Ensure compliance with applicable banking regulations, credit policies, and regulatory guidance.

Address audit and regulatory findings and oversee remediation efforts.

Leadership & Collaboration

Mentor Relationship Managers and Commercial Loan Officers on identifying early warning signs and mitigating credit risk.

Provide guidance on borrower negotiations and risk management.

Manage Collections Officers and third-party collection vendors.

Work collaboratively across lending, credit, finance, legal, and executive leadership teams.

Represent the bank's values of customer and community focus, excellence, accountability, and teamwork.

Qualifications

Required

Bachelor's degree in Accounting, Business, Finance, or a related field; alternatively, equivalent commercial banking experience may be considered.

7+ years of commercial banking experience.

3–5 years of experience in problem loan management, special assets, loan workouts, or collections.

Demonstrated experience managing complex CRE and relationship-based commercial credits.

Strong knowledge of commercial and CRE credit analysis.

Experience with criticized/classified assets and commercial loan risk-rating systems.

Knowledge of loan accounting and credit risk management.

Working knowledge of bankruptcy, foreclosure, collateral enforcement, and related processes.

Strong financial analysis and problem-solving skills.

Excellent written, verbal, and presentation skills.

Ability to communicate complex credit matters to senior management and Board-level audiences.

Strong judgment, discretion, integrity, and accountability.

Proficiency with Microsoft Office and commercial banking/credit systems.

Preferred Certifications

Certified Problem Loan Manager (CPLM)

Certified Credit Officer (CCO)

Formal training in credit analysis, bankruptcy, loan workouts, or restructuring

Ideal Candidate

The ideal candidate is an experienced commercial banking or special assets professional who has successfully managed distressed and complex commercial loan portfolios.

They should have hands-on experience with:

Problem and criticized loans

CRE and C&I credits

Loan workouts and restructurings

Commercial credit analysis

Bankruptcy and foreclosure situations

Collateral evaluation

Risk ratings and impairment analysis

Borrower and guarantor negotiations

Regulatory examinations and credit governance

The strongest candidates will be comfortable making independent credit judgments, managing sensitive borrower relationships, coordinating legal and third-party professionals, and presenting recommendations to senior leadership and credit committees.

Simple Explanation of the Job

In simple terms, this person manages the bank's troubled commercial loans.

When a business or commercial real estate borrower is having financial difficulties or is no longer meeting the terms of their loan, the Special Assets Officer steps in.

They will:

Review the borrower's financial situation.

Determine how serious the credit problem is.

Evaluate the property or other collateral securing the loan.

Work with the borrower on possible solutions.

Restructure or modify loans when appropriate.

Work with attorneys on bankruptcy, foreclosure, or other enforcement matters when necessary.

Determine the best way for the bank to recover its money while minimizing losses.

Report the status of troubled loans to senior management, committees, regulators, and the Board.

This is a senior-level commercial banking role focused specifically on distressed and problem assets.

Screening Questions

How many years of commercial banking experience do you have, and how many years specifically in Special Assets, Problem Loans, Workouts, or Collections?

Do you have experience managing complex CRE and/or C&I credits? Please briefly describe your experience.

What experience do you have with loan workouts, restructurings, bankruptcy, foreclosure, or other distressed-credit situations?

Do you have experience with commercial credit analysis, risk ratings, impairment analysis, and collateral evaluation?

What is your current location, and what is your availability to start?