Special Assets Officer

WaFd Bank

WaFd Bank Special Assets Officer managing troubled commercial relationships and adversely graded loans. Mitigating losses through restructuring, foreclosure, collateral disposition, and recovery actions.

Posted 8/21/2026full-timeSeattle • Washington • 🇺🇸 United StatesMid-LevelSenior💰 $115,750 - $173,650 per yearWebsite

Core Competencies

Role fit

Core Competencies

Use this summary to align your resume positioning with the role.

Demonstrates expertise in managing troubled commercial banking relationships and problem loan administration, with a strong focus on financial analysis, risk assessment, and compliance with banking regulations. Proficient in negotiating loan modifications and managing legal actions related to foreclosure and asset disposition.

Highest-signal resume keywords

Loan Documentation ManagementFinancial Statement AnalysisBankruptcy and Foreclosure KnowledgeCommercial Banking ExperienceMicrosoft Office Proficiency

ATS Keywords

Tailor your resume

Applicant Tracking System Keywords

Tip: use these terms in your resume and cover letter to boost ATS matches.

Hard Skills

Loan DocumentationFinancial AnalysisRisk AssessmentCollateral ValuationModification NegotiationForbearance TermsLegal Action ManagementAsset DispositionCurrency Transaction ReportingSuspicious Activity Reporting

Soft Skills

Analytical SkillsOrganizational SkillsProfessional CommunicationTeam CollaborationDecision-Making

Tools & Technologies

Microsoft OfficeData Management Systems

Certifications & Qualifications

ELearning Course Completion

Industry Keywords

Commercial BankingProblem Loan AdministrationBank Secrecy ActUSA Patriot ActOFAC Regulations

About the role

Key responsibilities & impact

Manage troubled commercial banking relationships and/or adversely graded commercial loans assigned to the Senior Special Credits Officer
Obtain and review financial information and collateral valuations to assess financial condition and repayment sources and formulate recommended action plans
Analyze and negotiate modification and/or forbearance terms
Provide recommendations for appropriate action plans
Mitigate losses through active engagement and administration of action plans, including modifications or forbearances, foreclosure, receivership action, deeds in lieu of foreclosure, short sales, collateral disposition and other legal action
Monitor and report risk-rating changes and impairments to management regarding relationship status and action plans
Monitor collateral conditions through inspections as needed
Review loan documentation to identify errors and deficiencies
Communicate with borrowers, Bank employees and others professionally and courteously
Work with attorneys and manage foreclosure, litigation, legal and collection activity
Follow Information Security policies and securely handle client and confidential bank information
Maintain client privacy and confidentiality and avoid conflicts of interest
Complete assigned eLearning courses and certifications
Adhere to bank policies and procedures complying with Federal regulations, including the Bank Secrecy Act, USA Patriot Act and OFAC regulations
Ensure timely and accurate preparation of Currency Transaction Reports, Suspicious Activity Reports and other recordkeeping requirements
Complete special projects and other assigned duties

Requirements

What you’ll need

Strong experience with loan documentation, closing documentation, title reports, appraisals and supporting underwriting criteria
Experience in management of complex CRE and C&I relationships
Knowledge and experience with bankruptcy and foreclosure laws and processes
Experience in managing and disposing of business and income property assets
Excellent analytical and organizational skills and ability to work independently and as a team with little supervision
Strong working knowledge and competency in analyzing financial statements and cash flow
Demonstrated professional business communication and people skills, plus ability to work successfully with all layers of an organization
Strong organizational skills and ability to make decisions, work independently, and handle multiple priorities
Thorough working knowledge of Microsoft Office and data management
Minimum of five years’ experience in commercial banking and problem loan administration

Benefits

Comp & perks

Paid time off for vacation, sick days and holidays
Health insurance
Stock options
Bonus programs
401(k) plan
Paid Parental Leave
Life and AD&D insurance
Long-term disability
Tuition Reimbursement
Employee assistance programs
Pre-tax health and dependent-care spending plans
Hybrid work arrangement, subject to WaFd Bank’s guidelines