Special Assets Officer SBA - LA/OC
The Special Assets Officer is responsible for managing problem loan asset portfolio with goal to minimize loan losses, reduce nonperforming assets and maintain compliance with U.S. Small Business Administration (SBA), VelocitySBA and regulatory requirements. Acts as the primary contact for identified credits for borrowers and VelocitySBA stakeholders. Primary responsibilities to be on collections and rehabilitation of SBA loans, including assisting in negotiations and creating approval requests to the Management Loan Committee. Other focuses include analyzing, recommending and working with SBA servicing center or Loan Guaranty Purchase Center (LGPC) on appropriate workout strategies to maximize recoveries.
- Monitors and manages credit risk and portfolio of SBA lending products with varying assets, including Real and Personal Property.
- Identifies and manages potential and/or problem assets or transactions that may require pre-emptive action or attention
- Prepares credit memorandum to recommend appropriate risk rating changes and liquidation strategies
- Perform collection calls on delinquent loans, track communication and monitor results
- Perform Skip Tracing functions, when necessary
- Assists in managing special asset activities from loan workouts, counsel engagement, and bankruptcy filings
- Coordinate interaction with legal counsel regarding documentation and monitoring of legal efforts for collection
- Works to minimize the VelocitySBA’s exposure to litigation and costs associated therein wherever possible
- Acts on past due accounts in accordance with VelocitySBA lending policy and procedure to ensure the collectability of such accounts
- Monitors adherence to the terms of established repayment agreements, SBA borrower certification, SBA Loan Authorization, SBA Secondary Market Participation and SBA Standard Operating Procedures.
- Ensures each asset is accurately noted in VelocitySBA servicing/accounting platform (PCFS Solutions, SBA Loan Manager) along with management reports. Communicate any adjustment of value with VelocitySBA stakeholders per Policy and Procedure requirements.
- Prepares monthly and quarterly reports which could include loan delinquency, non-accrual, charge off, SBA purchase, OREO report, and litigation report. Including SBA Semi-Annual report to SBA Servicing Center or GLPC.
- Manages and tracks insurance, taxes, legal and other collection expenses and activities
- Prepares and performs financial analyses related to discounted cash flow, stabilization projections, tax analysis, and of any related data for the Management Loan Committee.
- Assists with internal or external examinations and audits
- 7+ years of prior successful experience in a Commercial Bank or SBA loan special asset management environment handling loan workouts
- 5+ years of commercial collections and credit analysis experience
- Experience with Microsoft Office applications, advanced PC skills, Salesforce and DocuSign.
- Bachelor's degree in Business Administration, Accounting, Finance or an equivalent combination of work experience and education
- Strong understanding and experience in underwriting, structuring, approval, purchase, liquidation and documentation of SBA loans sold on the secondary market.
- Thorough understanding of financial and cash flow analysis
- Current knowledge of federal and state laws, foreclosures and bankruptcy laws
- Strong understanding of business and other economic issues to logically assess and analyze the potential risks of problem credits to resolve them in an efficient and professional manner
- Knowledge of SBA lending programs, residential, and consumer lending areas
- Understanding of business entities and the unique legal, accounting, and taxation requirements
- Thorough knowledge of Workout, Credit Policy, Applicable laws and Industry Data Sources
- Effective communication; verbal, written and listening skills
- Effective interpersonal skills and problem-solving skills in order to work with VelocitySBA stakeholder and obligors, including difficult individuals, to resolve issues and problems. Excellent problem-solving and organizational skills required
- Intermediate to advanced level skills in PC and MS Office applications
- Los Angeles County, CA, USA
- Orange County, CA, USA