Western Alliance Bank · 2 months ago
Special Assets Officer
Phoenix, AZ
Full-time
Onsite
Senior Level
5+ years expWestern Alliance Bank is a wholly owned subsidiary of Western Alliance Bancorporation, offering a range of banking services. The Special Assets Officer will manage action plans for resolving adversely graded loans, engage in negotiations with borrowers, and coordinate collection efforts to minimize bank losses.
BankingFinanceFinancial Services
Responsibilities
Recommend and manage internal and external action plans to resolve adversely graded loans, minimize bank loss and maximize recovery and return to performing status
Engage in direct meetings and negotiations with the Borrower and related parties, as well as other 3rd party professionals and vendor
Support the Special Assets team by preparing, organizing, and maintaining working files on assigned assets, requiring knowledge of all loan and real estate documentation
Communicate with borrowers to identify reasons for problem and negotiates acceptable terms and conditions for reinstatement or curing default
Calculate amounts owed on loans; prepares/reviews reinstatement and payoff statements, default notices, bankruptcy Proofs of Claim
Perform loan and borrower research on loan servicing systems
Prepare loan assumption, forbearance, and loan modification documents
Order and track all necessary third-party reports such as: appraisals, Broker Opinions of Value, environmental inspections, property profiles, title reports, invoices, etc
Act as the Bank's Loan Recovery Officer
Initiate Trustee and Attorney engagement packages for foreclosure, receivership, bankruptcy, or other legal actions
Coordinate collection efforts on adversely graded credits with other institutions such as banks, title companies, and the Small Business Administration while maintaining the Banks best interest
Qualification
Required
5+ years of related experience in Accounting, Financial Analysis or similar field
Directly related commercial lending experience, with increasing responsibility for credit analysis and underwriting
Bachelor's degree in related field required
Intermediate to advanced knowledge of general banking operations, including deposit operations, loan administration, treasury management and/or other commercial banking products and services
Intermediate to advanced knowledge of applicable regulatory and legal compliance obligations, rules and regulations, industry standards and practices
Intermediate to advanced knowledge and training in financial statement and tax return analysis typically resulting from a combination of education in accounting, financial and/or credit analysis or related areas
Intermediate to advanced knowledge of commercial, construction, real estate and consumer loan processing
Good working knowledge of proper assignment of loan grades for adversely graded credits, working knowledge of identifying impaired loans, choice of methodologies for impairment analysis, identification of accrual status and troubled debt restructures
Intermediate to advanced understanding of the Fair Debt Collections Practices Act, bankruptcy law, debtor/creditor law, and the legal aspects of lending
Advanced speaking and writing communication skills
Preferred
Minimum of one (1) year of problem loan resolution (consumer and commercial), loan servicing, or related industry experience is preferred
Benefits
Competitive salaries
An ownership stake in the company
Medical and dental insurance
Time off
A great 401k matching program
Tuition assistance program
An employee volunteer program
A wellness program
Company
Western Alliance Bank
Western Alliance Bank is a banking firm that offers commercial and business banking solutions.
Founded in 1994Phoenix, Arizona, USA
1001-5000 employees
H1B Sponsorship
Western Alliance Bank has a track record of offering H1B sponsorships. Please note that this does not
guarantee sponsorship for this specific role. Below presents additional info for your
reference. (Data Powered by US Department of Labor)
Distribution of Different Job Fields Receiving Sponsorship
Represents job field similar to this job
Trends of Total Sponsorships
2025 (42)
2024 (30)
2023 (49)
2022 (28)
2021 (13)
2020 (10)
Funding
Current Stage
Public CompanyTotal Funding
$400M2025-11-19Post Ipo Debt· $400M
2005-06-30IPO
Leadership Team
Tim Boothe
Chief Operating Officer
Barbara Kennedy
CHRO, EVP
Recent News
2026-01-22
Morningstar.com
2026-01-09
Company data provided by crunchbase