Workout Operations Specialist

NewtekOne®, Your Business Solutions Company®, is a financial holding company providing a wide range of business and financial solutions under the Newtek® brand to the small- and medium-sized business (SMB) market. Since 1999, Newtek has delivered cost-efficient products and services to SMBs across all 50 states to help them grow sales, control expenses, and reduce risk. Solutions include banking, business lending, electronic payment processing, technology solutions, eCommerce, accounts receivable and inventory financing, insurance, web services, and payroll and benefits solutions.

About the role

The Workout Operations Specialist provides operational and administrative support to the Workout Department by coordinating loan servicing activities, maintaining portfolio reporting, and ensuring timely completion of documentation and vendor requests. This role supports Workout Managers and Workout Officers in managing distressed loan portfolios through reporting, loan review, collateral valuation coordination, and other operational functions that contribute to effective risk management and regulatory compliance.

Responsibilities

• Prepare and distribute loan reports reflecting changes in accrual status, servicing status, charge-offs, and other portfolio activity.
• Order property valuations using Newtek's Automated Valuation Method (AVM) vendor to support loan reserve calculations.
• Assist Workout Managers with the transfer of newly assigned loans by utilizing company reports and coordinating with loan servicing staff to obtain required documentation.
• Support Workout Officers by ordering site visits, asset searches, and preparing loan-specific correspondence and other documentation as needed.
• Maintain and update the monthly company risk rating change log, ensuring all supporting documentation is received, complete, and properly maintained.
• Review SBA loans to determine potential eligibility for repurchase by following established policies, procedures, and standardized decision criteria.
• Coordinate with internal departments and third-party vendors to ensure timely completion of operational requests.
• Maintain accurate loan files and ensure documentation is organized, complete, and compliant with company policies and regulatory requirements.
• Participate in Community Reinvestment Act (CRA) activities and initiatives, including community outreach, volunteer events, financial education programs, and related efforts, as assigned.
• Perform other duties and special projects as assigned.

Requirements

• 2–4 years of experience in commercial loan servicing, loan operations, workout, special assets, banking, or a related financial services environment.
• Working knowledge of SBA lending and servicing practices is preferred.
• Strong organizational skills with the ability to manage multiple priorities and meet deadlines.
• Excellent attention to detail and accuracy in reporting and documentation.
• Proficiency in Microsoft Office Suite, particularly Excel and Word.
• Strong written and verbal communication skills.
• Ability to work independently while collaborating effectively with cross-functional teams.

Qualifications

• Associates or Bachelor's degree in Finance, Accounting, Business, or other related field.

Pay

$50,000 to $65,000 per year.