Special Assets Officer Average Salary

Job Satisfaction

Highly satisfied Image
Highly satisfied
Rated 4 out of 5 based on 8 Special Assets Officer votes.
national salary data
National Employer Data
National Salary Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$33K$66K$99K
Salary
$37,334 - $93,236  
   
Bonus
$1,468 - $11,335  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$36,054 - $97,489  
Country: United States | Currency: USD | Updated: 4 Feb 2017 | Individuals Reporting: 51

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Job Description for Special Assets Officer

Special assets officers are in charge of managing and allocating loans for their organization. They write specific loan terms and renegotiate them as needed, as well as process large amounts of financial and loan information to find and correct possible contract errors. These officers also write detailed reports and report their progress to the credit administrator in their department. In all tasks, special assets officers must follow financial and privacy procedures; they also need to provide excellent service to clients and strive to increase customer loyalty.

Other tasks performed by special assets officers include attending business meetings, updating loan information on company databases as needed, coordinating with company counsel regarding collection activities, and working with banks as required. They also monitor past-due activity and prepare credit analyses as needed. They are also responsible for communicating with borrowers using a variety of platforms to identify issues with special assets defaults, as well as setting up an arrangement for payment. They calculate amounts owed on loans as well.

A bachelor's degree in accounting, finance, economics, or a similar field is typically the minimum educational requirement for this position, and previous experience is typically needed as well. Special assets officers need to pay close attention to detail and possess strong analytical abilities, as well as be proficient with basic office software.
Special Assets Officer Tasks
  • Manage bankruptcy and foreclosure processes to regain assets.
  • Evaluate and recommend tactics for recovery of investments in formal reports.
  • Manage a portfolio of assets and loans and identify areas that require exit strategies.
  • Negotiate and handle problem loans and short sales.

Key Stats

Gender

Female
25 %
Male
75 %
Salary
$64,143 - $90,532
Salary
$38,101 - $80,673

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 8 votes.
Less than 1 year
2%
1-4 years
14%
5-9 years
39%
10-19 years
39%
20 years or more
6%

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