Senior Special Assets Officer - Commercial Credit Risk (Hybrid)

This is a hybrid role that will require reporting to the New York office (11 West 42nd Street).

This position provides support to senior team leaders in the management of a portfolio of distressed real estate credit, OREO and hedge positions for all non-owner-occupied real estate verticals, including healthcare and technology real estate. These exposures can be bi-lateral, participations in syndicated facilities or agent led transactions. Primary focus for this position is to maximize recoveries and minimize losses through restructuring efforts to bridge to an exit or turnaround. Qualified candidates would have a credit background and experience with real estate, financial modeling, valuation, and credit documentation. This role provides the individual with the opportunity to mentor and guide junior staff on workflow.

• Negotiate amendments, waivers, restructuring proposals, and other credit documentation with borrowers, syndicate members, and other key creditors.
• Analyze financial statements and compliance reporting of stressed and distressed borrowers, sponsors, and guarantors with an aim to evaluate (i) sources of key stress; (ii) repayment capacity and refinancing capabilities; (iii) covenant outlook; and (iv) liquidity situation.
• Evaluate appraisals and other valuation reports to determine collateral coverage and formulate impairments when necessary.
• Develop workout strategies, restructuring plans, or exit plans alongside retained advisors and attorneys.
• Work collaboratively and interface across multiple internal business units including Origination, Legal, Compliance, Operations, Appraisal and Credit.
• Prepare quarterly credit reviews, credit action applications and risk rating modification memos while presenting findings to senior team leaders and group head.
• Perform due diligence to identify risks associated with credit actions.
• Spread financial statements in Moody's software to determine PD & LGD and assess appropriateness of regulatory ratings.
• Prepare responses required for regulators and auditors (both internal and external).
• This position will occasionally require travel for site visits, client meetings, etc.

• Bachelor's Degree and 6 years of experience in Credit Training, Financial Analysis OR High School Diploma or GED and 10 years of experience in Credit Training, Financial Analysis

Preferred Qualifications

• Degree in Accounting or Finance preferred.
• Commercial Banking or Advisory experience preferred.
• Ability to negotiate and influence others.
• Ability to create effective and accurate financial models.
• Ability to read Loan Documents
• Ability to communicate model/valuation information into meaningful terms.
• Knowledge of financial principles and concepts.

This job posting is expected to remain active for 8 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.

The base pay for this position is generally between $180,000 and $200,000. 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.

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.