Loan Workout and Liquidation Officer (Remote)

Headquartered in Chicago, Byline Bank, a subsidiary of Byline Bancorp, Inc. (NYSE:BY), is a full-service commercial bank serving small- and medium-sized businesses, financial sponsors, and consumers. With approximately $9.7 billion in assets, Byline Bank operates 45 branch locations throughout the Chicago and Milwaukee metropolitan areas, offering a broad range of commercial and community banking products and services, including small-ticket equipment leasing solutions. Byline Bank is one of the top U.S. Small Business Administration (SBA) lenders and is recognized as an award-winning workplace, including being named one of the Best Companies to Work for in the Midwest by U.S. News & World Report and one of Chicago’s Best Workplaces by the Chicago Sun-Times.

About the role

The Loan Workout and Liquidation Officer is responsible for managing a portfolio of Small Business Administration (SBA) and commercial criticized and classified loan relationships, implementing timely workout strategies to minimize loss for the Bank, and ensuring compliance with SBA guidelines for guaranteed loans.

Responsibilities

• Manage and resolve a portfolio of distressed loans, designing and implementing customized approaches to maximize recoveries and minimize losses.
• Respond creatively and effectively to changing dynamics, including bankruptcies, litigation, and new information that may reshape strategies.
• Evaluate the collectability of indebtedness by analyzing collateral (real estate, business assets, guarantees) through site inspections, appraisals, evaluations, Broker’s Preferred Opinions (BPOs), field examinations, tax returns, operating statements, personal financial statements, credit reports, and asset searches.
• Identify and recommend appropriate outside counsel for workout situations and oversee their efforts to protect the Bank’s interests.
• For real estate loans, ensure property-level due diligence by evaluating market conditions, physical and environmental factors, liens, and building code violations.
• Demonstrate a thorough understanding of the Bank’s loan rating system and recommend appropriate risk rating adjustments, including upgrades and downgrades.
• Collaborate with line officers on Special Asset Group (SAG) “consults” and with others in the SAG & Portfolio Management Department.
• Conduct quarterly Watch List Reviews and presentations to Senior Management.
• Present clear and concise credit approval requests to Senior Management and the Executive Credit Committee of the Board of Directors.
• Maintain well-documented credit files.
• Effectively communicate with customers, employees at all organizational levels, and external third parties, including delivering complex or sensitive messages.

Requirements

• Bachelor’s degree in Economics, Business, or a related field, preferred.
• 4+ years of related financial services industry experience, including origination and workout experience with loans ranging from $100,000 to $5 million.
• In-depth knowledge of SBA lending policies and procedures, preferred.
• Strong negotiation, interpersonal, project management, and legal/collection skills.
• Proficiency in portfolio management and monitoring, as well as litigation management.
• Ability to identify, define, and solve problems, evaluate alternatives, set priorities, and implement high-quality solutions.
• Strong organizational, project management, time management, and planning skills to manage multiple projects and priorities.
• Proficiency in MS Office Suite, nCino, IBS Insight, and loan servicing software.
• Ability to travel to client sites and office locations as needed.

Work Environment

This role operates in a usual office environment with frequent sitting, walking, and standing, and occasional climbing, stooping, kneeling, crouching, crawling, and balancing. The position requires frequent use of eye, hand, and finger coordination for office equipment, as well as oral and auditory capacity for interpersonal and automated communication. Byline Bank supports a hybrid work environment for this position, combining remote and in-office work with occasional visits based on business needs.

Pay

The salary range for this position is between $90,000 to $120,000, plus incentive opportunities. Compensation may also include discretionary bonuses and other benefit programs, with the actual package varying based on factors such as skill set, experience level, and location.

Benefits

• Medical, dental, and vision coverage.
• Disability insurance.
• 401k retirement plan.
• Paid time off.
• Additional benefit programs depending on the role.