SBA Special Assets & Bankruptcy Specialist

Live Oak Bank; Wilmington (DE); On-site; USD 72,000 - 113,000; Full time

Job summary

Live Oak Bank in Wilmington, DE is seeking a Bankruptcy Manager to lead internal coordination for bankruptcy filings, monitor case status, and prepare claims and collateral analysis across the Special Assets portfolio.

You will work with Legal, Loss Mitigation, Credit, and Loan Servicing teams to ensure compliance with SBA policies and deadlines, while delivering rigorous financial analysis and recovery estimates.

Qualifications

• Strong working knowledge of Bankruptcy Code and FRBP, including chapters 7, 11, Subchapter V, and 13.
• Direct experience managing creditor-side bankruptcy cases, including proofs of claim, relief from stay, plan review, and asset sales.
• Experience with SBA default servicing and workout, including cure and demand notices and guaranty purchase referral.
• Experience maintaining loan-level ledgers and reconciling figures for Bank reporting and court filings.
• Experience working with internal and external legal counsel.
• Sound judgment and attention to detail, with the discipline to meet hard court and SBA deadlines.
• Deep understanding of Bank and SBA lending, servicing, and liquidation policies, procedures, and criteria, including SOP 50 57.
• Proficiency in Microsoft Office, and loan servicing software.
• Strong negotiation and problem-solving abilities.
• Strong financial analysis skills, including recovery and loss estimation.
• Excellent customer service and interpersonal skills.
• Must be willing to travel.
• Valid driver’s license

Responsibilities

• Serve as internal central point of contact for bankruptcy filings across the Special Assets portfolio.
• Monitor for bankruptcy filings and notify the SBA Servicing Center.
• Maintain case information in tracking systems and reconcile data with court notices and records.
• Prepare proofs of claim for SAG Legal Review and file before bar date.
• Monitor cash collateral and DIP financing motions in coordination with SAG Legal Counsel.
• Review plans of reorganization and monitor related filings.
• Support drafting and review of bankruptcy pleadings with Legal and outside counsel.
• Prepare reason-for-failure memo and collateral analysis for each defaulted SBA credit.
• Perform financial analysis and recovery modeling to estimate loss and timing.
• Maintain bankruptcy ledger and track distributions and SBA pro rata shares.
• Coordinate with other teams to handle bankruptcy credits consistently with policy.
• Maintain knowledge of Bankruptcy Code, FRBP, and SBA SOP 50 57 servicing requirements.
• Handle assigned bankruptcy accounts to avoid government guaranty reduction.
• Track and report status of open bankruptcy cases to leadership.

Skills

Bankruptcy knowledge

Credit analysis

Negotiation

Regulatory compliance

Customer service

Attention to detail

Travel willingness

Valid driver’s license

Education

Bachelor’s degree or equivalent experience

Paralegal certificate or comparable credential

Tools

loan servicing software

Job description

Live Oak Bank in Wilmington, DE is seeking a Bankruptcy Manager to lead internal coordination for bankruptcy filings, monitor case status, and prepare claims and collateral analysis across the Special Assets portfolio.

You will work with Legal, Loss Mitigation, Credit, and Loan Servicing teams to ensure compliance with SBA policies and deadlines, while delivering rigorous financial analysis and recovery estimates.