Remote Credit Risk Jobs in Portland, OR (NOW HIRING)

About Craft3
Craft3 is on a mission to build a thriving, just, and empowered Pacific Northwest. As a nonprofit community lender founded in 1994, we provide responsible financing and support to entrepreneurs, businesses, and communities that traditional finance often overlook. We believe everyone deserves access to capital and the chance to succeed. We work with people who have been denied access to opportunity - helping them build wealth, strengthen their communities, and create lasting change across Oregon and Washington.
Our team is passionate about our mission and brings expertise from banking, community development, finance, accounting, natural resources, and regional planning. While they connect to our mission in different ways, all staff care deeply about using finance to expand opportunities and create a more inclusive world.
Ready to take the next step? We are looking for a Special Assets Manager to join our amazing Craft3 team in the WA or OR Area.
What We Offer
At Craft3 we value our team members and offer a comprehensive benefits package that supports their health, well-being, and ongoing professional growth.

• Comprehensive Medical, Dental and Vision Coverage to keep you and your family healthy
• A 403(b) Retirement Plan with matching contribution to help secure your financial future
• Generous Paid Time Off (PTO) that includes 9 Company Holidays + 2 Paid Weeks of Rest annually to relax and recharge
• 32 hours of Paid Volunteer Time Off (VTO) - give back to the community while we support your time
• 12 weeks of Paid Parental Leave to support you through important family milestones
• $5,250 per year in Tuition Reimbursement to invest in your continuous learning
• $500 per year Wellness reimbursement each year to encourage your holistic health
• Sabbaticals for all employees after 7 years of service
• Flexible work arrangements including Hybrid and Remote Work Options to fit your lifestyle
• Access to welcoming physical office spaces in Seattle, Portland, and Astoria.

For more information about Craft3 culture, philosophy, and our Benefits visit our website at: www.craft3.org/about/careers
About the Job:
Reporting to the Chief Credit Officer, the Special Assets Manager handles a portfolio of criticized, classified, delinquent, and other high risk commercial loans. This role is responsible for identifying emerging credit risk, developing, and executing workout and recovery strategies, minimizing losses, maximizing recoveries, and supporting viable borrowers through financial challenges. The position works closely with Lending, Credit Risk Management, Loan Servicing, and Finance to protect asset quality while advancing Craft3's mission of expanding equitable access to capital throughout the Pacific Northwest.
Essential Duties and Responsibilities:
Craft3 reserves the right to change, add, or delete responsibilities and duties. Essential duties and responsibilities include some or all of the preceding; these are not, however, intended to be all-inclusive.
The essential duties and responsibilities for this position are:

• Manage a portfolio of adversely rated loans, including Watch, Special Mention, Substandard, non-accrual, and other high-risk relationships.
• Monitor borrower performance, financial reporting, covenant compliance, collateral values, and guarantor support; identify emerging credit risks and recommend appropriate risk rating and classification changes.
• Analyze financial statements, tax returns, cash flow, collateral, guarantor strength, and repayment capacity.
• Develop and execute workout, restructuring, rehabilitation, and recovery strategies for criticized, classified, and charged-off credits.
• Negotiate loan modifications, forbearance agreements, payment plans, extensions, renewals, and other restructuring solutions.
• Prepare credit memorandums, action plans, and recommendations supporting credit decisions and approval requests.
• Lead collection and recovery efforts for delinquent and non-performing loans.
• Coordinate foreclosure, bankruptcy, receivership, litigation, collateral liquidation, OREO management, and other enforcement activities with legal counsel and external professionals.
• Monitor expected losses, recoveries, reserve requirements, and charge-off recommendations.
• Maintain accurate documentation and reporting related to workout strategies, credit actions, and regulatory compliance.
• Conduct borrower meetings, site visits, financial reviews, and collateral inspections.
• Collaborate with Relationship Managers and external partners to address borrower stress, preserve viable businesses, and minimize credit losses.
• Participate in Special Assets Committee and portfolio review meetings.
• Maximize recoveries while minimizing losses, costs, and reputational risk.

Direct / Indirect Reports: This role may include direct supervisory responsibilities.
Knowledge and Experience:

• 5-7 years of experience in commercial lending, credit administration, special assets, loan workouts, portfolio management, or a related field.
• Experience analyzing commercial financial statements, cash flow, tax returns, collateral, and repayment capacity.
• Experience working with distressed borrowers and negotiating complex credit solutions.
• Familiarity with bankruptcy, foreclosure, receivership, litigation, and collection practices.
• Ability to independently manage multiple complex borrower relationships and competing priorities.
• Experience serving racially, ethnically, and socioeconomically diverse communities preferred.
• Bachelor's degree in finance, Business, Accounting, Economics, or a related field, or an equivalent combination of education and experience.

Preferred Skills and Abilities:
We encourage all candidates with diverse perspectives and backgrounds to apply regardless of whether you meet all the requirements of the job description. Some specific things we are looking for in this role are candidates who demonstrate:

• Strong knowledge of commercial credit analysis, loan structuring, commercial real estate lending, loan documentation, and collateral management.
• Excellent analytical, negotiation, problem-solving, and communication skills.
• Ability to balance prudent risk management with relationship preservation and mission-driven lending objectives.

Travel:
Approximately 12 weeks of travel per year is expected within Oregon and Washington for customer and office visits, as well as travel to our company events.
Physical Demands
Frequently requires use of manual dexterity and repetitive motions, primarily with the wrists, hands, and/or fingers. Must be able to occasionally list and/or move up to 10 pounds.
Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions.
Craft3 is an Equal Opportunity Employer
Craft3 is an Equal Opportunity Employer. We comply with all applicable laws prohibiting discrimination and make all hiring and employment decisions based on individual qualifications and merit. Veterans and individuals with disabilities are encouraged to apply. If accommodation is needed to participate in the job application or interview process, or to perform essential job functions, please contact our Talent Acquisition Team at recruitment@craft3.org, 888-231-2170.
Employment offers may require final candidates to successfully complete and pass a background check prior to employment, consistent with business necessity and applicable federal, state and local law. We're actively working to create a workplace where everyone can thrive. We believe different perspectives make us stronger and help us better serve the Pacific Northwest.
The pay range for this role is:
135,000 - 155,000 USD per year (Remote)