Loan Workout Specialist

Overview

Remote position for an experienced Loan Workout Specialist supporting the administration and remediation of problem loans.

This role manages a portfolio of commercial workout, special assets, and SBA loans. Responsibilities include overseeing the resolution of distressed, criticized, and classified commercial credit relationships while partnering with internal teams and external stakeholders to minimize credit losses, maximize recovery efforts, and ensure timely resolution of troubled assets.

Responsibilities

• Assist in managing, working out, and resolving underperforming, criticized, and distressed commercial loan relationships across a variety of asset classes.
• Analyze borrower financial performance, global cash flow, guarantor strength, collateral values, and repayment capacity to develop workout and recovery strategies.
• Develop and recommend action plans for problem loan resolution, including loan restructurings, modifications, extensions, forbearance agreements, negotiated settlements, and exit strategies.
• Present workout, liquidation, and charge-off recommendations and ensure timely and accurate assignment of risk ratings, impairment assessments, and nonaccrual status.
• Manage a portfolio of SBA 7(a) and 504 loans involving defaults, workouts, recoveries, and liquidations, ensuring compliance with SBA Standard Operating Procedures (SOPs) and preservation of guaranty coverage.
• Coordinate with the SBA, legal counsel, loan servicing providers, and third-party servicers regarding modifications, litigation matters, guaranty purchases, recoveries, and offers in compromise.
• Provide workout and restructuring support for specialty real estate-secured credits, balancing recovery objectives with income preservation and relationship management considerations.
• Coordinate with third-party vendors (appraisers, environmental consultants, inspectors, auctioneers, and legal professionals) to support collateral evaluations, site inspections, post-default due diligence, and asset liquidation activities.
• Assist in developing, implementing, and maintaining policies, procedures, templates, reporting tools, and tracking systems related to special assets and problem loan administration.
• Prepare and maintain regular reports for management, committees, auditors, regulators, and other stakeholders on asset quality trends, portfolio performance, recovery efforts, and emerging credit risks.
• Maintain complete and accurate documentation of workout strategies, borrower communications, collection activities, and recovery efforts in accordance with bank policy and regulatory expectations.
• Perform other duties and special projects as assigned.

Requirements

• Strong understanding of commercial loan workout and recovery strategies, including bankruptcy proceedings, business liquidations, legal remedies, and collateral disposition.
• Strong credit analysis skills with the ability to exercise sound judgment and identify emerging risks.
• Strategic thinker who can effectively execute workout plans and drive timely resolutions.
• Excellent written and verbal communication skills, including the ability to present recommendations to management and committees.
• Strong attention to detail with a commitment to thorough documentation, policy adherence, and regulatory compliance.
• Working knowledge of bankruptcy laws, creditor rights, and loan recovery processes preferred.
• Familiarity with SBA lending programs and SBA Standard Operating Procedures (SOPs) preferred.
• Proficiency in Microsoft Office applications, including Word, Excel, Outlook, and other business software platforms.

Preferred Qualifications

• Bachelor’s degree in Finance, Accounting, Business Administration, or a related field preferred.
• Prior experience working with regulatory examinations, audits, or reviews involving special assets, troubled debt restructurings, or SBA lending portfolios.

Compensation & Benefits

• $70,000–$80,000/year; offer is commensurate with experience.
• Competitive benefits package.

Location

Remote