Lendistry · 7 hours ago

Asset Manager - SBA

United States

Full-time

Remote

Mid, Senior Level

$94K/yr - $125K/yr

5+ years exp

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Responsibilities

Administer a portfolio of problem and non-performing loans. Assess problem loan situations and analyze problems on loans, in a timely manner, through business connections, interviewing obligors and reviewing loan files. Developing an appropriate strategy and action plan, as well as implementing the plan in order to resolve the problem loan and reduce the company’s risk. Action plans for resolving problem loan weaknesses and defaults, to include restructures, forbearances, legal action, settlements, foreclosures, liquidations, note sales, and other actions. Negotiate with borrowers and guarantors to arrive at best possible workout and/or liquidation strategies to minimize loss to the company and to maximize recovery. Prepare, for management approval, charge-off requests after all collection options have been exhausted.

Perform daily collection calls on delinquent loans and/or lines of credit, track conversations, follow-up with written correspondence, and monitor results. Perform Skip Tracing functions, when required, to locate borrower and collateral. Work with inside and outside counsel, trustees, foreclosure personnel, and other internal or outside professionals, as required. Prepare default letters, pre-negotiation agreements and workout agreements.

Collect and analyze relevant information for loan workout, collateral liquidation, and legal actions. Analyze company’s collateral position relative to problem loans and ensure accurate internal reporting. Review, monitor and strategize for bankruptcies and other legal proceedings. Work with internal and external customers on a variety of issues (payment posting, grade changes, billing issues, and payoffs). Identify, report to appropriate management and correct any significant document or other discrepancies pertaining to loan and collateral. Respond promptly to customer inquiries.

Monitor ongoing performance of the loans being paid under forbearances, settlements, modifications, etc. Monitor bankruptcy proceedings of loans in the collection portfolio. Work with legal counsel to ensure company’s best interest are represented and enforced. Manage all stages of the foreclosure process.

Manage the collection of charged off loans. Develop and implement strategies to maximize individual loan recoveries.

Management of OREO. Manage OREO operations for the company. Complete initial and ongoing net value and impairment analyses. Evaluate, recommend and carry-out disposition plans for OREO properties. Prepare and present monthly status reports. Ensuring proper on-going property management and value preservation of the OREO properties. Arrange for professional property management, to include on-site security, property maintenance, rent collection, evictions, bill payments, insurance coverage, tax payments, etc. Responsible for obtaining entitlements and approvals from municipalities or agencies having jurisdiction over the properties. Arrange for completion of necessary construction or repairs to the properties. Liquidate OREO properties. Contracting with listing brokers, negotiate sales prices and terms, work with legal counsel to ensure appropriate sales and other contracts, arranging auctions, obtain and evaluate bids from service providers and other contractors, obtain management approvals, coordinating financing assistance if applicable, coordinate sales closings.

Responsible for the disposition of foreclosed properties and repossessed assets.

Ensure the ongoing review of the Company’s loan portfolio. Collect updated borrower financial information in accordance with periodic reporting requirements and ensure scheduled loan reviews are completed. Follow for annual credit reports, tax returns, financial statements, property tax payments, insurance, etc. Insure proper title insurance is obtained and in place. Grade loans based on periodic review of financial or other information or data that may prompt a risk grade change. Analyze collateral value. Review real estate appraisal reports, research current market data, business evaluation reports, accounts receivable audits, operating statements, etc.

Qualification

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Troubled loan workoutsCommercial credit analysisOREO managementSBA workoutsLegal issues in distressed loansUnderwriting skillsExcelRisk managementBusiness administrationFinanceAccountingProblem loan structuringBankruptcy laws

Required

Bachelor’s degree in business administration, accounting, finance or related field.

Must have working experience in SBA workouts including a thorough understanding of SBA Standard Operating Procedures, completion of 10-tab, UPP, file wrap-up, preparing a Litigation Budget, and submitting Offer in Compromise.

A minimum 5 years of experience in troubled loans workouts and collecting in a commercial bank or equivalent environment.

Demonstrated history of successful problem asset resolution and risk management, developing an appropriate strategy and action plan, as well as implementing it in order to resolve the problem loan and reduce the company’s risk.

Experience to include workouts and restructures, litigation including collection litigation, receiverships, bankruptcy, and judicial and non-judicial real estate foreclosures.

Experience in OREO Management.

Familiarity with the legal issues involved with distressed loans such as bankruptcy actions.

Current underwriting and management skills for varied loan types including SBA and ABL loans, commercial and industrial loans, real estate loans, lines of credit, secured and unsecured loans.

Must possess strong computer skills including Excel.

Excellent written and verbal communication and time management skills.