Troubled Loan Recovery Specialist

RXinsider LTD.; Wilmington (NC); Hybrid; USD 72,000 - 113,000; Full time

Job summary

Live Oak Bank is seeking a Special Assets Officer, SBB, to manage a portfolio of troubled loans and implement strategies to mitigate credit risk under guidance from the Special Assets Manager.

The role focuses on SBA and conventional lending, proper servicing, and liquidation in alignment with regulations to protect government guarantees. Travel is required, with strong collaboration across credit, legal, and loan servicing teams.

Qualifications

• Bachelor's degree or equivalent experience is required.
• Excellent customer service and interpersonal skills are essential.
• Strong negotiation and problem-solving abilities are required.
• Sound judgment and attention to detail are essential.
• Strong financial analysis skills are essential.
• Proficiency in Microsoft Office, nCino, and loan servicing software is required.
• Deep understanding of Bank and SBA lending policies, procedures, and criteria is needed.
• Willingness to travel extensively and possess a valid driver's license.

Responsibilities

• Monitor loan performance and ensure compliance with loan agreements; escalate issues to senior management when needed.
• Manage a portfolio of troubled loans independently with financial analysis and risk assessment.
• Communicate with borrowers to explore repayment options and create workout plans.
• Collaborate with credit, legal, and loan servicing teams to manage troubled loans.
• Prepare and present Watch List Reports to Bank Management and the Board quarterly.
• Identify collateral and complete quarterly impairment assessments.
• Develop strategies to minimize losses and maximize recovery; negotiate workout agreements.
• Build relationships with assigned customers to monitor business and personal involvement in operations.
• Support legal actions under guidance of Special Assets Manager; serve as main contact for outside counsel.

Skills

Customer service

Negotiation

Financial analysis

Banking policies

Education

Bachelor's degree or equivalent experience

Tools

Microsoft Office

nCino

Loan servicing software

Job description

Live Oak Bank is seeking a Special Assets Officer, SBB, to manage a portfolio of troubled loans and implement strategies to mitigate credit risk under guidance from the Special Assets Manager.

The role focuses on SBA and conventional lending, proper servicing, and liquidation in alignment with regulations to protect government guarantees. Travel is required, with strong collaboration across credit, legal, and loan servicing teams.