Special Assets Associate: SBA Troubled Loans & Recoveries

Live Oak Bank; Wilmington (NC); On-site; USD 57,000 - 93,000; Full time

Job summary

Live Oak Bank in Wilmington, NC seeks an Associate Special Assets Officer, SBB to manage a portfolio of troubled loans, perform financial analysis and risk assessments, and support strategies under the Special Assets Manager.

You'll collaborate with credit, legal, and loan servicing teams, prepare quarterly Watch List Reports, and help negotiate workout agreements while ensuring compliance with SBA and bank policies.

Qualifications

• Excellent customer service and interpersonal skills.
• Experience in commercial lending, servicing, or underwriting with a focus on SBA.
• Strong financial analysis and lending knowledge.
• Willingness to travel extensively.

Responsibilities

• Monitor loan performance and compliance with loan agreements, escalating issues to management when needed.
• Manage a portfolio of troubled loans, performing financial analysis and risk assessments.
• Communicate with borrowers to explore repayment options and create customized workout plans based on their financial circumstances with guidance from senior members of the special assets team.
• 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 on a quarterly basis.
• Identify collateral accurately and complete quarterly assessments for classified collateral impairment.

Skills

Negotiation

Financial analysis

Communication

Teamwork

Attention to detail

Regulatory compliance awareness

Education

Bachelor's degree or equivalent experience

Tools

Microsoft Office

nCino

Loan servicing software

Job description

Live Oak Bank in Wilmington, NC seeks an Associate Special Assets Officer, SBB to manage a portfolio of troubled loans, perform financial analysis and risk assessments, and support strategies under the Special Assets Manager.

You'll collaborate with credit, legal, and loan servicing teams, prepare quarterly Watch List Reports, and help negotiate workout agreements while ensuring compliance with SBA and bank policies.