Director, Special Assets

Discover Financial
New York, Virginia
Workplace: OnsiteFull timeUSD 251,400 - 286,900 annuallyFunction: Executive & General ManagementExperience: 7+ yearsSkills: ["Written communication","Verbal communication","Negotiation","Independent judgment","Leadership"]

Lead loan workout and loss mitigation for a portfolio of criticized and distressed commercial loans across multiple Middle Market sectors, including leveraged and private equity–backed borrowers. Independently manage strategies to maximize recoveries, evaluate restructuring and customer outcomes, negotiate restructurings, and present clear deal progress to senior leadership. Drive impairment and Watch/Criticized governance processes, manage complex credit documentation, and perform advanced financial analysis and modeling to support regulatory risk ratings and decision-making.

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Discover Financial
Discover Financial
1 week ago

Director, Special Assets

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Job Summary

Lead loan workout and loss mitigation for a portfolio of criticized and distressed commercial loans across multiple Middle Market sectors, including leveraged and private equity–backed borrowers. Independently manage strategies to maximize recoveries, evaluate restructuring and customer outcomes, negotiate restructurings, and present clear deal progress to senior leadership. Drive impairment and Watch/Criticized governance processes, manage complex credit documentation, and perform advanced financial analysis and modeling to support regulatory risk ratings and decision-making.
Location: New York, Virginia
Workplace: Onsite
Employment Type: Full time
Job Function: Executive & General Management
Seniority: Director level

Key Responsibilities

  • •Manage a portfolio of criticized and classified distressed commercial loans, leading restructuring and loss mitigation as primary objectives.
  • •Develop and quarterback workout strategies based on multiple outcomes; evaluate amendments/restructuring recommendations and drive solutions internally and externally.
  • •Lead complex negotiations and legal documentation work, including covenants, rights, remedies, and restructurings through default, receivership, and bankruptcy scenarios.
  • •Lead impairment and Watch & Criticized (WAC) processes, establishing restructuring action plans and ensuring internal governance and reporting compliance.
  • •Perform and communicate financial analysis using modeling and collateral/DCF assessments to forecast outcomes, drive ratings triggers, and inform decision-making.

Pay and Benefits

Salary: USD 251,400 - 286,900 annually

Key Requirements

  • •Bachelor’s degree or military experience.
  • •At least 7 years of relevant commercial loan experience, credit, asset management, or workout.
  • •At least 5 years of loan underwriting experience or 5 years of experience in loan restructuring.
  • •Demonstrated ability to apply credit officer, asset management, and risk management disciplines.
  • •Proficiency in commercial loan financial analysis, structuring, and valuation methodologies.
Experience:7+ years
Skills:Written communicationVerbal communicationNegotiationIndependent judgmentLeadership

Eligibility

Work Authorization:Authorization required. Sponsorship not provided.

Company Brief

Discover Financial
Provides consumer banking products, credit cards, personal loans, and payment services through the Discover brand. It operates a major U.S. financial network and serves individuals and merchants with lending and digital payment solutions.
Industry: Retail Banking
Company Size: Enterprise (1,001+ employees)
Revenue: USD 10M to 25M
Growth: Public Company
Valuation: Public Company (Market Cap in USD)
Funding: IPO / Publicly Listed
Headquarters: Riverwoods, United States
Founded: 1985
WebsiteLinkedIn