MinUSD $115,750.00/Yr. MaxUSD $173,650.00/Yr. Job Summary *Location: This is a hybrid position, subject to WaFd Bank’s guidelines. The Special Credits Officer is responsible for the management of troubled commercial bank…
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Sign up with Clera and we'll reach out the moment a role actually fits you — no more spraying applications into the void.
$116k–$174k/yr
Full-time
Paid Time Off, Health Insurance, Stock Options, Bonus Programs, 401(k) Plan, Paid Parental Leave
Posted 45d ago
Apply by Jun 29
~40 hrs/week
Responsibilities
Manage troubled commercial banking relationships and adversely graded loans to mitigate risk and maximize recovery. This includes formulating action plans, negotiating forbearance terms, and overseeing legal actions such as foreclosures and receiverships.
Requirements
Requires a minimum of five years of experience in commercial banking and problem loan administration. Candidates must possess strong analytical skills in financial statements and a deep knowledge of bankruptcy and foreclosure laws.
Full job description
Min
USD $115,750.00/Yr.
Max
USD $173,650.00/Yr.
Job Summary
*Location: This is a hybrid position, subject to WaFd Bank’s guidelines.
The Special Credits Officer is responsible for the management of troubled commercial banking relationships and/or adversely graded commercial loans within the Bank’s portfolio assigned to the Special Credits Officer. This role may also include providing advisory services to Relationship Managers managing their own problem loans. The position is responsible for mitigating risk and maximizing recovery through the active engagement of these relationships.
Along with the key functions listed below, this position will be expected to uphold the value that WaFd Bank places on simply being kind when working alongside colleagues and servicing our clients.
KEY FUNCTIONS
Manage troubled, commercial banking relationships and/or adversely graded commercial loans that have been assigned to the Senior Special Credits Officer.
Obtain, as able, and review financial information and collateral valuations to assess current financial condition and repayments sources to formulate a recommended action plan.
Analyze and negotiate modification and/or forbearance terms, as appropriate.
Provide recommendations for appropriate action plans for assigned relationships.
Mitigate losses through active engagement and administration of approved action plans which may include modifications or forbearances, foreclosure, receivership action, deeds in lieu of foreclosure, short sales, and disposition of collateral or other legal action to recover monies due;
Monitor and provide reporting and recommendations for risk rating changes and impairments to management as to the current status and action plan for relationships managed;
Monitor collateral conditions through inspections as needed;
Review loan documentation to identify any errors and/or deficiencies.
Communicate directly with borrowers, Bank employees and others in a professional and courteous manner;
Work closely with attorneys, and manage their actions in foreclosure, litigation, and other legal and collection activity;
Follows the Bank’s Information Security policies, ensuring that the processing and handling of client and confidential bank information is done in a secure manner and environment;
Avoid all real or perceived conflicts of interest and always maintain client privacy and confidentiality.
Complete and pass all assigned eLearning courses and certifications as required.
Adhere to and ensure staff adherence to bank policies and procedures designed to comply with Federal regulations, including but not limited to the Bank Secrecy Act, USA Patriot Act and OFAC regulations. To that end, ensure timely and accurate preparation of Currency Transaction Reports, Suspicious Activity Reports and other recordkeeping requirements.
Complete special projects as assigned.
Completes any other job-related duties as assigned by manager or supervisor.
Qualifications
Education/Skills/Training:
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 be able 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 the ability to work successfully with all layers of an organization.
Strong organizational skills and the ability to make decisions, work independently, and handle multiple priorities.
Must have a thorough working knowledge of Microsoft Office and data management.
Experience:
Minimum of five years’ experience in commercial banking and problem loan administration.
Benefits
At WaFd Bank you get all of these great benefits!
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
WaFd Bank Benefits Summary - Click here for more information
EEO Statement
We are committed to Equal Employment Opportunity and Affirmative Action. We recruit, hire, train and promote persons in all job titles and ensure that all other personnel actions are administered without regard to race, color, religion, sex, sexual orientation, gender identity, military and/or veteran status, or disability in accordance with Executive Order 11246, Section 503 of the Rehabilitation Act of 1973, as amended, and the Vietnam Era Veterans Readjustment Assistance Act of 1974, which require affirmative action to ensure equal opportunity in all aspects of employment. WaFd Bank does not discriminate on the basis of national origin or citizenship status as provided under the Immigration Reform and Control Act of 1986, or any other Federal or State legally-protected classes. WaFd Bank is committed to providing reasonable accommodations to employees and applicants with disabilities to the full extent required by the Americans with Disabilities Act (ADA). If you feel you need a reasonable accommodation pursuant to the ADA, you are encouraged to contact us at 800.324.9375
EEO Policy Statement - WaFd Bank
Know Your Rights: Workplace Discrimination is Illegal - click here for more information
California Consumer Privacy Act 2026
Requisition Post Information* : Posted Date
6/29/2026
Related keywords
Special AssetsCommercial BankingProblem Loan AdministrationCREC&IForeclosureReceivershipDeeds In LieuShort SalesRisk RatingImpairmentsBank Secrecy ActUSA Patriot ActOFACCurrency Transaction ReportsSuspicious Activity Reports
Ever since we got our start back in 1917, we’ve been helping to build healthy, thriving communities and businesses.
Industry
Banking
Company size
1,001-5,000 employees
Founded
1917
Headquarters
Seattle, Washington
LinkedIn followers
12,138
WaFd Bank is a national bank, but we’ve tried to act more like a reliable next door neighbor. Ever since we got our start back in 1917, we’ve been helping to build healthy, thriving communities. As an active members of our communities, we’re truly invested in clients like you—delivering simple, straightforward banking solutions to help you make the most of your money.
Member FDIC.
Offices: 425 Pike St, Seattle, Washington 98101, US
How much do Finance & Accounting jobs in Seattle, WA pay?
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