Loan Workout Specialist

Quaint Oak Bank; United States; Remote; USD 70,000 - 80,000; Full time

Job summary

Quaint Oak Bank is seeking an experienced Loan Workout Specialist to manage a portfolio of commercial workout, special assets, and SBA loans. This remote role focuses on resolving distressed and classified credits, coordinating with borrowers, legal counsel, and internal teams to minimize losses and maximize recoveries.

You will work with the Manager of Special Assets and cross‑functional teams to develop action plans, monitor risk ratings, and ensure SBA compliance.

Qualifications

• Bachelor's degree in Finance, Accounting, Business Administration, or a related field preferred.
• Demonstrated understanding of commercial loan workout and recovery strategies, including bankruptcy proceedings, business liquidations, legal remedies, and collateral disposition.
• Prior experience working with regulatory examinations, audits, or reviews involving special assets, troubled debt restructurings, or SBA lending portfolios preferred.
• Strong credit analysis skills with the ability to exercise sound judgment and identify emerging risks.
• Strategic thinker with the ability to effectively execute workout plans and drive timely resolutions.
• Excellent written and verbal communication skills, including the ability to present recommendations to management and committees.
• Strong attention to detail with commitment to thorough documentation, policy adherence, and regulatory compliance.
• Familiarity with SBA lending programs and SBA Standard Operating Procedures (SOPs) preferred.
• Proficiency in Microsoft Office applications, including Word, Excel, Outlook, and other business software platforms.

Responsibilities

• Assist in the management, workout, and resolution of underperforming, criticized, and distressed commercial loan relationships across a variety of asset classes.
• Analyze borrower financial performance, global cash flow, guarantor strength, collateral values, and repayment capacity to develop appropriate workout and recovery strategies.
• Develop and book action plans for problem loan resolution, including restructurings, modifications, extensions, forbearance agreements, negotiated settlements, and exit strategies.
• Present workout, liquidation, and charge-off recommendations to the Manager of Special Assets and ensure timely assignment of risk ratings, impairment assessments, and nonaccrual status.
• Manage a portfolio of SBA 7(a) and 504 loans involving defaults, workouts, recoveries, and liquidations with SBA SOP compliance.
• Coordinate with the SBA, legal counsel, loan servicing providers, and third-party servicers regarding modifications, litigation matters, guaranty purchases, recoveries, and offers in compromise.
• Provide workout and restructuring support for specialty real estate-secured credits, balancing recovery with income preservation and relationship management.
• Coordinate with appraisers, environmental consultants, inspectors, auctioneers, and legal professionals for collateral evaluations, site inspections, DD, and asset liquidation.

Skills

Credit analysis

Strategic thinking

Communication skills

SBA knowledge

Education

Bachelor's degree in Finance, Accounting, Business Administration, or related field

Tools

Microsoft Excel

Microsoft Word

Microsoft Outlook

Job description

Quaint Oak Bank is hiring an experienced Loan Workout Specialist.

Location:

Remote

Position Summary:

Quaint Oak Bank is a growing community bank seeking an experienced Loan Workout Specialist to manage a portfolio of commercial workout, special assets, and SBA loans. This position is responsible for overseeing the resolution of distressed, criticized, and classified commercial credit relationships while supporting the Manager of Special Assets in the administration and remediation of problem loans. The ideal candidate will work proactively with borrowers, legal counsel, and internal stakeholders to minimize credit losses, maximize recovery efforts, and ensure timely resolution of troubled assets.

This role partners closely with the Manager of Special Assets, Credit Administration, Portfolio Management, Lending, Legal, Finance, Loan Servicing, and senior management to maximize recovery efforts, preserve earnings where appropriate, and ensure compliance with regulatory requirements and SBA program guidelines.

Key Responsibilities:

• Assist in the management, workout, and resolution of underperforming, criticized, and distressed commercial loan relationships across a variety of asset classes.
• Analyze borrower financial performance, global cash flow, guarantor strength, collateral values, and repayment capacity to develop appropriate workout and recovery strategies.
• Develop and recommend action plans for problem loan resolution, including loan restructurings, modifications, extensions, forbearance agreements, negotiated settlements, and exit strategies.
• Present workout, liquidation, and charge-off recommendations to the Manager of Special Assets and ensure the timely and accurate assignment of risk ratings, impairment assessments, and nonaccrual status.
• Manage a portfolio of SBA 7(a) and 504 loans involving defaults, workouts, recoveries, and liquidations while ensuring compliance with SBA Standard Operating Procedures (SOPs) and preservation of guaranty coverage.
• Coordinate with the SBA, legal counsel, loan servicing providers, and third-party servicers regarding modifications, litigation matters, guaranty purchases, recoveries, and offers in compromise.
• Provide workout and restructuring support for specialty real estate-secured credits, balancing recovery objectives with income preservation and relationship management considerations.
• Coordinate with third-party vendors, including appraisers, environmental consultants, inspectors, auctioneers, and legal professionals, to facilitate collateral evaluations, site inspections, post-default due diligence, and asset liquidation activities.
• Assist in the development, implementation, and maintenance of policies, procedures, templates, reporting tools, and tracking systems related to special assets, and problem loan administration.
• Prepare and maintain regular reports for management, committees, auditors, regulators, and other stakeholders regarding asset quality trends, portfolio performance, recovery efforts, and emerging credit risks.
• Maintain complete and accurate documentation of workout strategies, borrower communications, collection activities, and recovery efforts in accordance with Bank policy and regulatory expectations.
• Perform other duties and special projects as assigned.

Experience & Qualifications

• Bachelor's degree in Finance, Accounting, Business Administration, or a related field preferred.
• Demonstrated understanding of commercial loan workout and recovery strategies, including bankruptcy proceedings, business liquidations, legal remedies, and collateral disposition.
• Prior experience working with regulatory examinations, audits, or reviews involving special assets, troubled debt restructurings, or SBA lending portfolios preferred.
• Strong credit analysis skills with the ability to exercise sound judgment and identify emerging risks.
• Strategic thinker with the ability to effectively execute workout plans and drive timely resolutions.
• Excellent written and verbal communication skills, including the ability to present recommendations to management and committees.
• Strong attention to detail with a commitment to thorough documentation, policy adherence, and regulatory compliance.
• Working knowledge of bankruptcy laws, creditor rights, and loan recovery processes preferred.
• Familiarity with SBA lending programs and SBA Standard Operating Procedures (SOPs) preferred.
• Proficiency in Microsoft Office applications, including Word, Excel, Outlook, and other business software platforms.

Compensation:

$70,000-$80,000/year; offer is commensurate with experience.

Quaint Oak Bank and/or its subsidiaries is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, creed, religion, ancestry, citizenship status, age, sex, sexual orientation, gender identity, marital status, national origin, disability or veteran status. Quaint Oak Bank and/or its subsidiaries is committed to providing access, equal opportunity and reasonable accommodation for individuals with disabilities in employment. To request a reasonable accommodation, contact Rachel Schmahl at 610.798.6111 or [e-mail]