SBA Workout Manager

Lendistry is a certified Community Development Financial Institution (CDFI) and Community Development Entity (CDE) focused on creating economic opportunities and fueling growth for small business owners and their communities.

About the role

The Asset Manager (AM) is responsible for managing, monitoring, and resolving troubled commercial, real estate, and government-guaranteed loan assets across both the CORE and SBA portfolios. This role develops and executes workout, restructuring, liquidation, and recovery strategies to preserve principal, maximize recoveries, ensure regulatory compliance, and mitigate loss exposure. The AM serves as the primary point of contact for internal and external communications related to distressed credits and is directly involved in borrower negotiations, credit analysis, workout structuring, collateral liquidation, litigation management, and SBA servicing and liquidation activities.

Some travel may be required.

Responsibilities

• Administer a portfolio of problem and non-performing loans.
• Assess problem loan situations through borrower discussions, business contacts, and loan file reviews.
• Develop and implement appropriate strategies and action plans to resolve problem loans and reduce company risk.
• Execute action plans to address problem loan weaknesses and defaults, including restructurings, forbearances, legal actions, settlements, foreclosures, liquidations, note sales, and other resolution strategies.
• Negotiate with borrowers and guarantors to achieve optimal workout and/or liquidation outcomes while minimizing losses and maximizing recoveries.
• Prepare charge-off requests for management approval after all collection options have been exhausted.
• Perform daily collection calls on delinquent loans and/or lines of credit, track conversations, follow up with written correspondence, and monitor results.
• Perform skip tracing functions to locate borrowers and collateral when required.
• Work with inside and outside counsel, trustees, foreclosure personnel, and other internal or external professionals as needed.
• Prepare default letters, pre-negotiation agreements, and workout agreements.
• Collect and analyze relevant information for loan workouts, collateral liquidation, and legal actions.
• Analyze the company’s collateral position relative to problem loans and ensure accurate internal reporting.
• Review, monitor, and strategize for bankruptcies and other legal proceedings.
• Work with internal and external customers on issues such as payment posting, grade changes, billing issues, and payoffs.
• Identify, report, and correct significant document or collateral discrepancies.
• Respond promptly to customer inquiries.
• Monitor ongoing performance of loans under forbearances, settlements, or modifications.
• Monitor bankruptcy proceedings of loans in the collection portfolio.
• Work with legal counsel to ensure the company's best interests are represented and enforced.
• Manage all stages of the foreclosure process.
• Manage the collection of charged-off loans.
• Develop and implement strategies to maximize individual loan recoveries.
• Manage OREO (Other Real Estate Owned) operations, including valuation, impairment analysis, property management, disposition strategies, and liquidation activities.
• Complete initial and ongoing net value and impairment analyses.
• Evaluate, recommend, and carry out disposition plans for OREO properties.
• Prepare and present monthly status reports while ensuring ongoing property management and value preservation.
• Arrange for professional property management, including on-site security, property maintenance, rent collection, evictions, bill payments, insurance coverage, and tax payments.
• Obtain required entitlements and approvals from municipalities and other governing agencies.
• Coordinate necessary property repairs and improvements.
• Manage the liquidation of OREO properties by engaging listing brokers, negotiating sales terms, arranging auctions, evaluating vendor bids, obtaining management approvals, coordinating financing assistance, and facilitating closing activities.
• Ensure the ongoing review of the company’s loan portfolio.
• Collect updated borrower financial information in accordance with periodic reporting requirements and ensure scheduled loan reviews are completed.
• Follow up on annual credit reports, tax returns, financial statements, property tax payments, and insurance.
• Ensure proper title insurance is obtained and maintained.
• Grade loans based on periodic review of financial or other information that may prompt a risk grade change.
• Analyze collateral value through real estate appraisal reports, market data, business evaluation reports, accounts receivable audits, and operating statements.
• Perform other duties as assigned to support the efficient and effective operation of the department.

Requirements

• Bachelor’s degree in business administration, accounting, finance, or a related field.
• Minimum 5 years of experience managing troubled commercial and/or SBA loan portfolios within a bank, CDFI, non-bank lender, or similar lending environment.
• Demonstrated history of successful problem asset resolution and risk management, including developing and implementing strategies to resolve problem loans and reduce company risk.
• Experience with workouts, restructures, litigation (including collection litigation, receiverships, bankruptcy), and judicial and non-judicial real estate foreclosures.
• Experience in OREO management.
• Experience in SBA workouts, including a thorough understanding of SBA Standard Operating Procedures, completion of 10-Tab packages, file wrap-ups, preparing a Litigation Budget, and submitting Offer in Compromise.
• Underwriting and management skills for varied loan types, including commercial and industrial loans, real estate loans, lines of credit, SBA and ABL loans, secured and unsecured loans.
• Familiarity with legal issues involved in distressed loans, such as bankruptcy actions, foreclosures, performance claims, and collateral collection remedies.
• Strong negotiation, relationship management, analytical, organizational, and problem-solving skills.
• Advanced proficiency in Excel and loan servicing systems.
• Excellent written and verbal communication and time management skills.

Benefits

• Comprehensive Medical, Dental, and Vision Insurance
• Generous Paid Time Off
• Birthday Day Off
• 12 Paid Company Holidays
• 401(k) Match
• FSA and HSA
• Paid Life Insurance
• Paid Disability Insurance
• Pet Insurance
• Employee Assistance Program (EAP)
• Professional Development Courses
• In-office provided snacks and drinks
• Gym Facilities (LA & Tustin/CEC Offices)
• In-office engagement activities

Pay

The US base salary range for this full-time position is $85,000 - $115,000 annually. Individual pay is determined by job-related skills, experience, and state of residence.

Physical Requirements

This is a stationary position that requires frequent sitting (approximately 95%), repetitive wrist motions, grasping, speaking, listening, close vision, and the ability to adjust focus. It may also require occasional standing, lifting or carrying up to 20 lbs, walking, kneeling, bending/stooping, twisting, pulling/pushing, and reaching above the shoulder.