Special Assets Officer, SBB

About Us

How This Role Impacts Live Oak and its People

The Special Assets Officer SBB will be responsible for managing a portfolio of troubled loans and implementing strategies to mitigate credit risk and maximize recovery under guidance from the Special Assets Manager. Ensures proper servicing and liquidation of credits in a manner consistent with SBA regulations to avoid any reduction of the government guarantee as well as small business conventional loans.

What Youll Do at Live Oak

• Monitor loan performance and compliance with loan agreements escalating issues to senior management when needed

• Manage a portfolio of troubled loans independently performing financial analysis and risk assessments

• Communicate with borrowers to explore repayment options and create customized workout plans based on their financial circumstances

• Collaborate with internal teams including credit legal and loan servicing to effectively manage and oversee troubled loans

• Prepare and present a formal Watch List Report to Bank Management and the Board on a quarterly basis

• Identify collateral accurately and complete quarterly assessments for classified collateral impairment

• Develop and implement strategies to minimize losses and maximize recovery including negotiating workout agreements with borrowers

• Build strong relationships with assigned customers to monitor changes in their business and personal involvement in operations

• Handle multiple priorities and meet deadlines consistently

• Support legal actions under the guidance of the Special Assets Manager by serving as the Banks main contact for outside counsel

• Recommend timely updates to loan risk ratings and classifications to Credit Administration

• Conduct monthly charge off analysis and recommend losses in accordance with bank policies and procedures

• 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 experience

• Excellent customer service and interpersonal skills

• Strong negotiation and problem-solving abilities

• Sound judgment and attention to detail

• Strong financial analysis skills

• Proficiency in Microsoft Office nCino and loan servicing software

• Deep understanding of Bank and SBA lending policies procedures and criteria

• Willingness to travel extensively

• Valid drivers license

Preferred Experience

• Experience in commercial lending servicing or underwriting with a focus on SBA

• 3-5 years of experience in lending/loan workout

• Thorough knowledge of banking regulations and SBA guidelines

• Strong communication skills

• Ability to work effectively and collaboratively within a team

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.