Default Asset & Collateral Specialist II

Company: Citizens
Location: Glen Allen
Posted on: February 2, 2026

Job Description:

Job Description Description As the Default Asset & Collateral Specialist II, you will work interchangeably and flexibly in both the Non-Performing Loan (Equity Analysis) and OREO areas of Portfolio Administration. You will use your real estate knowledge to review market data and determine a property’s value or the financial risk of selling it in a specific area. Based on your findings, you will decide whether to: 1) move forward with foreclosure, 2) write down part of the loan, or 3) charge off the loan. Primary responsibilities include: - Using knowledge of current real estate market trends and dynamics, obtains current information about real estate secured loans. - Decides on the appropriate course of action which results in the least amount of risk to the institution. To this end, he/she approves foreclosures and losses. - Performs an equity analysis including OREO research, foreclosure volumes and analysis of market data to determine if there is any net residual value in the property and if foreclosure and subsequent required write down to the net realizable value is needed. - Recommends charge off, write down, or OREO marketing strategies to the NPL or OREO Manager respectively through the preparation of well documented packages. - Recognizes and reacts to issues and problems that may affect policy or procedures. - Challenges the status quo with respect to policy, procedure, and process and makes recommendations for change - Must be cognizant of current and future internal policy and procedures, state and federal regulations and accounting rules. - Directs vendors to secure data such as valuations and senior lien amounts to determine equity and ensure that negotiated pricing and service levels are followed. Reviews the data supplied by the vendors for accuracy and takes corrective action or instruct the vendors to do so. - Ensures that financial data hits the appropriate accounts in the correct timeframe. - Prepares, reviews, and adds commentary to Credit Risk and Compliance reporting for the NPL Department. - Communicates projected and actual loss, along with drivers and root cause of variances to expectations. - Participates in ad hoc or special projects as needed. Qualifications: - Strong knowledge of Default Operations. - Familiarity with Residential Real Estate default lifecycle activities (Foreclosure, OREO, etc.). - Familiarity with credit and accounting rules related to loss recognition of property secured loans. - Ability to manage large volumes of transactions across multiple platforms and ensure adherence to policy and procedures. - Excellent written and verbal communication skills - Ability to collaborate across multiple functions (credit, accounting, foreclosure, loss mitigation, etc.) to solve problems and provide transparency around losses to stakeholders. Hours & Work Schedule - Hours per Week: 40 - Work Schedule: Monday-Friday, 4 days a week in office, 1 day remote in Johnston, RI. LI-JH1 /n Some job boards have started using jobseeker-reported data to estimate salary ranges for roles. If you apply and qualify for this role, a recruiter will discuss accurate pay guidance. /n Equal Employment Opportunity Citizens, its parent, subsidiaries, and related companies (Citizens) provide equal employment and advancement opportunities to all colleagues and applicants for employment without regard to age, ancestry, color, citizenship, physical or mental disability, perceived disability or history or record of a disability, ethnicity, gender, gender identity or expression, genetic information, genetic characteristic, marital or domestic partner status, victim of domestic violence, family status/parenthood, medical condition, military or veteran status, national origin, pregnancy/childbirth/lactation, colleague’s or a dependent’s reproductive health decision making, race, religion, sex, sexual orientation, or any other category protected by federal, state and/or local laws. At Citizens, we are committed to fostering an inclusive culture that enables all colleagues to bring their best selves to work every day and everyone is expected to be treated with respect and professionalism. Employment decisions are based solely on merit, qualifications, performance and capability. Why Work for UsAt Citizens, you'll find a customer-centric culture built around helping our customers and giving back to our local communities. When you join our team, you are part of a supportive and collaborative workforce, with access to training and tools to accelerate your potential and maximize your career growth Background Check Any offer of employment is conditioned upon the candidate successfully passing a background check, which may include initial credit, motor vehicle record, public record, prior employment verification, and criminal background checks. Results of the background check are individually reviewed based upon legal requirements imposed by our regulators and with consideration of the nature and gravity of the background history and the job offered. Any offer of employment will include further information.

Keywords: Citizens, Annandale , Default Asset & Collateral Specialist II, Accounting, Auditing , Glen Allen, Virginia