Asset Manager II SBA

Solugenix; Los Angeles (CA); Remote; USD 80,000 - 100,000; Full time

Job summary

A leading company is seeking an Asset Manager II to manage defaulted commercial loans. This role involves negotiating with obligors, developing recovery strategies, and ensuring compliance with regulations. The ideal candidate will have extensive experience in loan workouts and risk management. This open-ended contract position is based out of Los Angeles, CA, with a competitive hourly pay range.

Qualifications

• 7+ to 15+ years managing defaulted commercial loan workouts.
• Experience with workouts, restructurings, litigation, and bankruptcy.

Responsibilities

• Manage a portfolio of defaulted loans up to $10 million.
• Develop and recommend workout strategies to maximize recoveries.
• Conduct daily collection calls and document interactions.

Skills

Problem Asset Resolution

Risk Management

Negotiation

Communication

Education

Bachelor's degree in business, accounting, finance

Tools

Excel

Job description

Solugenix is assisting a client in their search for an Asset Manager II SBA. This is an open-ended contract opportunity based out of Los Angeles, CA (Remote).

Position Overview

The Asset Manager II (AM) is responsible for the restructuring/workout of problem Commercial and Industrial (C&I) and Real Property secured commercial loans. The AM negotiates with obligors to cure defaulted loans and possibly modify loans. The core portfolio includes loans secured by UCC liens, Commercial and Residential Real Estate, and SSBCI loan guarantee programs.

Objectives

Ensure the preservation of the lender's security interests, maximize collection and recovery, mitigate credit losses and risk exposures. Act as the primary contact for internal and external communications related to troubled loans, managing strategies, negotiations, and terms.

Qualifications

• Bachelor's degree in business, accounting, finance, or related field.
• 7+ to 15+ years managing defaulted commercial loan workouts in a banking or similar environment.
• Proven success in problem asset resolution and risk management.
• Experience with workouts, restructurings, litigation, repossession, liquidation, bankruptcy, and foreclosures.
• Knowledge of SSBCI programs, legal issues, and loan management skills across various loan types.

Responsibilities

• Manage a portfolio of defaulted loans up to $10 million.
• Identify root causes of defaults and work with obligors to resolve issues.
• Develop and recommend workout strategies to maximize recoveries.
• Conduct daily collection calls, document interactions, and prepare related correspondence.
• Perform skip tracing, analyze financial documents, and ensure timely reporting.
• Manage legal and foreclosure processes, partner with legal counsel, and oversee collateral liquidation.
• Monitor legal proceedings, develop recovery strategies, and prepare status reports.
• Address delinquent taxes and insurance, and manage legal issues involving distressed loans.
• Ensure compliance with relevant regulations and possess strong computer skills, especially in Excel.

Compensation

Pay Range for CA, CO, IL, NJ, NY, WA, and DC: $45 - $55/hour. Actual pay may vary based on experience, education, and location.

Additional Information

Solugenix considers applicants with criminal histories per local laws. About the client: a Southern California-based fintech offering business loans. About Solugenix: a leader in IT services, recognized as a 2024 Top Workplace, with global offices and a commitment to excellence.