SBA Special Assets Officer

About the role

Celtic Bank is seeking an experienced SBA liquidation professional to join our team. You will own a portfolio of defaulted SBA loans from transfer through final resolution, driving liquidation strategy, directing outside counsel, and making the calls that protect recoveries and preserve the SBA guaranty.

Responsibilities

• Manage a portfolio of defaulted SBA loans throughout the entire liquidation lifecycle.
• Coordinate and oversee judicial foreclosure proceedings from referral through final disposition.
• Work directly with outside legal counsel to manage foreclosure actions, bankruptcy cases, receiverships, and litigation.
• Evaluate collateral positions and develop effective liquidation strategies to maximize recoveries.
• Prepare and submit SBA-required liquidation plans, purchase packages, wrap-up reports, and guaranty repair documentation.
• Negotiate loan workouts, modifications, repayment agreements, settlements, deeds in lieu of foreclosure, and short sales when appropriate.
• Review borrower financial information to determine recovery opportunities and recommend appropriate action.
• Maintain compliance with SBA SOP requirements, banking regulations, and investor guidelines throughout the liquidation process.
• Document servicing activities accurately within loan servicing systems.
• Prepare management reports on portfolio performance, recovery efforts, and loss mitigation activities.
• Collaborate with Credit Administration, Loan Operations, Legal, Compliance, and external agencies to facilitate timely resolutions.
• Recommend charge-offs, recoveries, and loss reserve adjustments based on portfolio analysis.
• Maintain detailed loan documentation supporting SBA guaranty preservation.

Requirements

• Bachelor's degree in Business Administration, Finance, Accounting, Legal Studies, or related field preferred (equivalent experience considered).
• 5+ years of experience managing SBA loan liquidations, special assets, commercial collections, or loan servicing.
• 5+ years of direct experience handling judicial foreclosures involving commercial real estate.
• Extensive knowledge of SBA 7(a) loan servicing and liquidation requirements, including SOP 50 57 (or current version).
• Experience with OREO processes and disposition.
• Experience working with attorneys, bankruptcy trustees, receivers, and court systems.
• Strong understanding of commercial lending, collateral valuation, UCC filings, bankruptcy, receiverships, and foreclosure law across multiple jurisdictions.
• Excellent negotiation, analytical, and decision-making skills.
• Strong organizational skills with the ability to manage multiple high-risk loans simultaneously.
• Proficiency with loan servicing systems, Microsoft Office Suite, and document management software.

Benefits

• Medical, dental, vision
• 401(k) with employer match
• Life and long-term disability coverage
• HSA and FSA plans
• Holidays and paid time off requests
• Roads and paid time off requests
• Robust wellness program (we're talking catered meals three times a week, lunch and learns, and onsite gym.)

Physical & Other Requirements

• Stationary Work: The employee is frequently required to stand; walk; use hands to type, handle documents, and perform other office related duties.
• Exerting up to 10 pounds of force occasionally and/or negligible amount of force frequently or constantly to lift, carry, push, pull or otherwise move objects.
• Mobile: The employee in this position needs to occasionally move between work sites and inside the office to access file cabinets, office machinery, etc.
• Communicate: The employee is regularly required to talk or hear and will frequently communicate with others. Must be able to read, write and understand fluent English.

Work Model

• Hybrid or Remote work model available after initial training period in our Salt Lake City, Utah office - department and job requirements will determine eligibility.