SBA Workout Manager

A Day in the Life

The Asset Manager (AM) is responsible for managing, monitoring, and resolving troubled commercial, real estate, and government-guaranteed loan assets across both the CORE and SBA portfolios. The role is responsible for developing and executing workout, restructuring, liquidation, and recovery strategies that preserve principal, maximize recoveries, ensure regulatory compliance, and mitigate loss exposure.

The Asset Manager serves as the primary point of contact for internal and external communications related to distressed credits and is directly involved in borrower negotiations, credit analysis, workout structuring, collateral liquidation, litigation management, and SBA servicing and liquidation activities.

The Asset Manager must have experience managing a broad range of distressed assets, including commercial and industrial loans, commercial real estate loans, SBA 7(a) and SBA 504, lines of credit, asset-based lending facilities, and other specialty lending products. The ideal candidate will possess expertise in both conventional loan workouts and SBA servicing and liquidation requirements, including compliance with current SBA SOPs and guaranty preservation requirements. The AM must have a strong working knowledge of workout strategies, commercial credit analysis, problem loan structuring, contracts, bankruptcy laws, OREO management and market dynamics. The position requires excellent written and verbal communication skills, as well as strong time management abilities. Some travel may be required.

What You'll Be Doing

• Administer a portfolio of problem and non-performing loans. Assess problem loan situations through borrower discussions, business contacts, and loan file reviews. Develop and implement appropriate strategies and action plans to resolve problem loans and reduce company risk.
• Develop and execute action plans to address problem loan weaknesses and defaults, including restructurings, forbearances, legal actions, settlements, foreclosures, liquidations, note sales, and other resolution strategies. Negotiate with borrowers and guarantors to achieve the best possible workout and/or liquidation outcomes while minimizing losses and maximizing recoveries. Prepare charge-off requests for management approval 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 the 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 the company's best interests 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.
• Manage OREO operations for the company, including valuation, impairment analysis, property management, disposition strategies, and liquidation activities. 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 while ensuring ongoing property management and value preservation. Arrange for professional property management, including on-site security, property maintenance, rent collection, evictions, bill payments, insurance coverage, and tax payments. Obtain required entitlements and approvals from municipalities and other governing agencies. Coordinate necessary property repairs and improvements. Manage the liquidation of OREO properties by engaging listing brokers, negotiating sales terms, arranging auctions, evaluating vendor bids, obtaining management approvals, coordinating financing assistance when applicable, and facilitating closing activities.
• 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 up on annual credit reports, tax returns, financial statements, property tax payments, insurance, etc. Ensure proper title insurance is obtained and maintained. 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.
• Perform other duties as assigned to support the efficient and effective operation of the department and that help to make Lendistry the best place to work!
• Perform other duties as assigned to support the efficient and effective operation of the department and that help to make Lendistry the best place to work!

Your Areas of Knowledge and Expertise

• Bachelor's degree in business administration, accounting, finance or a related field.
• Minimum 5 years of experience managing troubled commercial and/or SBA loan portfolios within a bank, CDFI, non-bank lender, or similar lending environment.
• Demonstrated history of successful problem asset resolution and risk management, including developing and implementing strategies and action plans to resolve problem loans and reduce company 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.
• Experience in SBA workouts including a thorough understanding of SBA Standard Operating Procedures, completion of 10-Tab packages, file wrap-ups, preparing a Litigation Budget, and submitting Offer in Compromise.
• Underwriting and management skills for varied loan types including commercial and industrial loans, real estate loans, lines of credit, SBA and ABL loans, secured and unsecured loans.
• Familiarity with the legal issues involved with distressed loans such as bankruptcy actions, foreclosures, performance claims, and collateral collection remedies.
• Strong negotiation, relationship management, analytical, organizational, and problem-solving skills.
• Advanced proficiency in Excel and loan servicing systems.
• Excellent written and verbal communication and time management skills.

Why You'll Love Working Here:

• Comprehensive Medical, Dental, and Vision Insurance
• Generous Paid Time Off
• Birthday Day Off
• 12 Paid Company Holidays
• 401(k) Match
• FSA and HSA
• Paid Life Insurance
• Paid Disability Insurance
• Pet Insurance
• Employee Assistance Program (EAP)
• Professional Development Courses
• In Office Provided Snacks and Drinks
• Gym Facilities (LA & Tustin/CEC Offices)
• In Office Engagement Activities

Compensation Range

The US base salary range for this full-time position is $85,000 - $115,000 annually.

Our salary ranges are determined by role, level, and location.

The range displayed on each job posting reflects the minimum and maximum base salary for new hires for the position across all US locations. Within the range, individual pay is determined by multiple factors like job-related skills, experience, and state of residence. Your recruiter can share more about the specific salary range during the interview process.

Please note that the compensation details listed in US role postings reflect the base salary only, and do not include any variable compensation elements.

Physical Requirements

This is a stationary position that requires frequent sitting (approximately 95%), repetitive wrist motions, grasping, speaking, listening, close vision, and the ability to adjust focus. It also may require occasional standing, lifting, carrying of 20lbs or less, walking, kneeling, bending/stooping, twisting, pulling/pushing, and reaching above the shoulder. Employees in this position must be physically able to efficiently perform the essential functions of the position.