Special Assets Officer, Commercial

About Us

How This Role Impacts Live Oak and its People

At Live Oak Bank the Special Assets Group manages credits with declining performance and increased risk. As a Special Assets Officer Commercial you will work directly with borrowers facing financial distress or transition applying sound credit judgment and clear communication in highstakes uncertain situations.

You will balance borrower engagement with disciplined risk management navigating difficult conversations and incomplete information while partnering with Credit Legal Servicing and Lending on outcomes ranging from restructures to exits or enforcement when necessary. This is a handson clientfacing role for professionals comfortable making hard calls operating under pressure and protecting the banks interests with clarity and professionalism.

What Youll Do at Live Oak

• Establish a high level of trust with assigned customers to continually be effective in monitoring changes in the borrowers business and personal level of engagement in the managing operations

• Responsible for guiding at-risk borrowers through the process of transitioning out of their business when appropriate for creating an environment of cooperation and for encouraging open communication

• Implement workout strategies of large bank exposures in excess of $10MM for commercial credits with management oversight

• Oversees and/or analyzes current customers financial status and keeps Special Assets management informed of same

• Quarterly a formal Watch/Criticized Report is prepared for presentation to Bank Management and Board

• Identify collateral that may be difficult to evaluate or liquidate and complete monthly classified impairment assessments and charge-offs recommendations

• Liaise with internal stakeholders including Credit Legal Counsel Loan Servicing and Lending teams to ensure effective management and oversight of troubled loan portfolio

• Responsible for all activities relating to forbearance agreements modifications bankruptcy and restructure strategies with oversight of execution

• Ensure that the servicing and liquidation of problem loan customers is in accordance with Bank participant and government program policies and procedures. Engage with loan participant and obtain necessary approval to remain compliant with agreements to prevent a loan participation default

• Experience with development of strategies that minimize loss to the Bank which may include short term loan modifications and long-term loan restructuring

• Present any proposed changes to loan terms to Credit Administration for approval

• Lead the process of document review on serious problem credits to insure enforceability of documents and compliance with all bank policies and procedures

• Quarterback legal actions taken against loan customers by acting as the Banks primary contact to inside and/or outside counsel

• Recommend changes to loan risk ratings as necessary to Credit Administration

• Identify and recommend loan/lease losses timely to Special Assets Manager

• Proactively engages in conversations with regular servicing teams to assess risk potential troubled assets and determine if workout strategy is required

• Ensure problem loan files are current with call memos and correspondence to and from customer

• Follow all regulatory requirements including those pertaining to the Bank Secrecy Act (BSA) Anti-Money Laundering (AML) Customer Identification Program (CIP) and OFAC to assist in the identification detection and determent of money laundering or other unlawful activities

• Maintain a high standard of regulatory awareness including BSA AML CIP and OFAC

Required Experience

• Bachelors degree or equivalent combination of education and relevant banking experience

• Strong financial analysis and credit assessment skills including the ability to analyze borrower performance collateral and cash flow

• Ability to exercise sound judgment manage competing priorities and maintain attention to detail in complex situations

• Excellent interpersonal communication and customer service skills with the ability to navigate and lead difficult or sensitive borrower conversations

• Working knowledge of commercial lending policies documentation and servicing practices

• Comfort collaborating crossfunctionally with Credit Legal Loan Servicing and Lending teams

• Proficiency with standard PC applications and banking systems

Preferred Experience

• 3-5 years of lending/workout experience

• Formal Bank credit training

• Strong communication skills

• Strong organizational skills

• Proven track record of successfully resolving complex commercial loan credit issues and maximizing recovery

• Ability to work collaboratively within a team environment

• Ability to work effectively and collaboratively within a team

• Knowledge of commercial collection laws and regulations bankruptcy laws and awareness of potential lender liability issues

Our Values

• Dedication:Possess a deep commitment to Live Oak Banks mission and core values exemplified through a strong work ethic adaptability and pride in your work.

• Ownership:Take initiative to deliver positive results by proactively and creatively solving problems while maintaining a high degree of quality.

• Respect:Treat everyone with courtesy politeness and kindness.

• Innovation:Embrace fresh ideas and fearlessly contribute new solutions to emerging or existing problems.

• Teamwork: Foster collaboration accountability and trust with others and understand that together we do more

For a detailed overview of our employee benefits please visit: Oak Bank is an Affirmative Action and Equal Opportunity Employer Minorities/Women/Veterans/Disabled. We consider applicants for employment without regard to race color religion sex sexual orientation gender identity national origin age genetic information veteran status or disability. Equal access to programs service and employment is available to all persons. Those applicants requiring reasonable accommodation to the application and/or interview process should notify human resources at.

EEO is the Law

Please note that we provide at least the minimum requirement of paid sick leave to our employees who reside in states that require employer-paid sick leave including but not limited to Arizona California Colorado District of Columbia Maine Maryland Massachusetts Michigan Nevada New Jersey New Mexico New York Oregon Rhode Island Vermont and Washington.