Director Special Assets

This is a hybrid role with the expectation that time working will regularly take place at our office located at 11 West 42nd Street, New York, New York 10036.

This position oversees and directs a team responsible for the management of distressed and stressed CRE loans and OREO. This individual will partner closely with senior management and legal counsel to maximize recoveries through workout strategies.

This role requires a seasoned CRE professional with a strong background in credit, legal documentation structuring and negotiations to drive resolutions on workout CRE accounts.

• Lead a team of CRE workout professionals through restructuring strategy execution, development of credit memorandums and processing portfolio reviews.
• Manage the performance, training and evaluation of assigned staff.
• Construct and present complex credit recommendations and portfolio updates to senior management.
• Engage in restructuring negotiations with borrowers, sponsors, lenders and guarantors.
• Ensure regulatory compliance with assigned portfolio and maintain robust quality control processes.
• Formulate forecast for assigned portfolio’s charge-off, specific reserve and non-accrual levels.

Bachelor's Degree and 10 years of experience in commercial lending, loan workout, restructuring advisory, CRE asset management or investment banking OR High School Diploma or GED and 14 years of experience in commercial lending, loan workout, restructuring advisory, CRE asset management or investment banking.

Preferred Experience:

• 2 years of management experience.
• Proficient in CRE financial analysis, loan structuring, financial modeling and CRE valuation
• Familiarity with CoStar and Argus

The base pay for this position is generally between $270,000 and $300,000. 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.