The ideal candidate for the SBA Workout Specialist position at IncredibleBank will be responsible for responsible for the management of SBA watch credits in the SBA portfolio, including both early warning and classified credits in addition to liquidation of problem credits. This position requires advanced knowledge of SBA SOP lending principles, practices, and procedures, as well as having a solid understanding of business lending compliance rules and regulations. Individuals must have experience as a skilled negotiator with customers, attorneys, Small Business Administration, and third-party vendors.
This position is remote eligible. Individuals may choose to work from a designated home office space or may choose to work onsite at any IncredibleBank branch location in Wisconsin and Michigan.
Duties and Responsibilities
• Understands and adheres to the Bank’s Loan Policy, the SBA SOP and other business lending compliance rules and regulations.
• Works closely with senior leadership in providing reporting and updates on portfolio issues.
• Will assist in the creation of new procedures and processes in the SBA Special Asset area.
• Analyzes and reviews watch list business relationships to identify issues and develop effective strategies to maximize recovery, reduce losses, and ensure effective loan restructuring.
• Reviews all workout plans prior to seeking approval to ensure compliance with SBA SOP.
• Prepares documentation to request SBA repurchase of loans sold on secondary market.
• Underwrites credit actions that maximize credit quality and minimize risk.
• Conducts site inspections and business meetings with business owners.
• Servicing of all types of government guaranteed loans to maintain compliance with Bank/SBA policies.
• Typically manages a portfolio of not less than 20 clients.
• Maintains existing SBA portfolio by monitoring tickler items, required financials, etc. to ensure compliance with bank and government policies.
• Monitors SBA portfolio for delinquencies then proceeds with legal action as appropriate.
• Partners with SBA Relationship Officers on their delinquencies for assistance if needed.
• Completes SBA file reviews as well as annual reviews on existing SBA watch credit loans.
• Completes loan presentations /cash flow analysis for servicing requests on SBA watch credit loans.
Education and Experience:
- A two-year degree from an accredited University in a related field or a combination of education and experience related to business lending, processing and compliance required.
- 5+ years of related experience with SBA lending preferred.
- 2+ years of SBA workout experience and legal documentation knowledge required.
- Experience with Chapter 7, 11, and 13 bankruptcies required.
- Travel is based on business need
Other Desired Qualifications:
- Ability to communicate in a professional manner via multiple forms of media. Ability to effectively present information and respond to questions from groups of managers, customers, and the general public. Ability to define problems, collect data, establish facts, and draw valid conclusions. Ability to interpret a variety of technical instructions and deal with several abstract and concrete variables.