AVP Special Assets Workout Officer

FINWISE BANK•Murray, UT

About The Position

AVP, Special Assets Workout Officer for FinWise Bank (the “Bank”) is primarily responsible with assisting with management and resolution of non-performing loans, primarily comprised of U.S. Small Business Administration (“SBA”) 7(a) loans. This critical role requires knowledge of collections, loan restructuring, and legal remedies, including bankruptcy, foreclosure, and judgment enforcement. The ideal candidate will have at least 5 years of experience in commercial special assets management, strong negotiation skills, and the ability to lead recovery efforts while preserving asset value and minimizing losses in a timely and cost-effective manner while remaining in compliance with Bank Policy and SBA rules and regulations as outlined in the SBA Standard Operating Procedure 50 57 4 and 50 10 8. Assistant Vice President, Special Assets Workout Officer will work closely with the Chief Credit Officer; Vice President – Special Assets and Servicing; Senior SBA Servicing Manager; and other Credit Dept. Staff.

Requirements

Knowledge of SBA 7(a) loan programs, including servicing, liquidation, and guaranty purchase processes.
Understanding of bankruptcy law (Chapters 7, 11, and 13), foreclosure procedures (judicial and non-judicial), and collections and enforcement strategies.
Demonstrated ability to manage multiple problems and prioritize appropriately.
Strong negotiation, communication, and decision-making skills.
Familiarity with relevant legal and regulatory compliance issues including FDIC and SBA requirements.
Skill in issuing well documented government guaranteed transactions to maximize enforceability and loss recovery.
Skill in SBA portfolio management and liquidation.
Ability to produce and collect required documentation to support modification eligibility to government standards.
Ability to assemble required documentation for Bank retention supporting the government guarantee in the event of default and protecting Bank assets.
Ability to meet time constraints and effectively communicate in order to achieve goals identified to senior management and supervised staff.
Knowledge of portfolio management monitoring and reporting processes.
Skill in accurately assessing unique documentation needs in compliance with SBA SOP standards.
Knowledge of SBA Standard Operating Procedures, Loan Origination (SOP 50 10 8) and Loan Servicing & Liquidation (SOP 50 57 4).
Skill in evaluating financial information on workout credits to determine if they are assigned the appropriate risk rating and recommend appropriately available workout options.
Ability to support Bank portfolio, collections and liquidations of complex credit situations
Knowledge of commercial due diligence, commercial loan documentation, and business entity documentation.
Ability to clearly communicate deficiencies for timely resolution to balance customer needs with program requirements.
Ability to interact within Bank Credit Department.
Background check are required on all bank employees due to accessibility of Personally Identifiable Private Information.

Responsibilities

Manage a diverse portfolio of criticized, substandard, and non-performing loans, primarily consisting of SBA 7(a) and other commercial credit relationships.
Navigate and manage SBA 7(a) loan workout processes, including compliance with SBA servicing and liquidation guidelines, file documentation, and timely submission of required reporting.
Maintain detailed loan documentation, risk ratings, action plans, and reporting in accordance with bank policies and regulatory requirements.
Assist in researching collateral taxes and insurances, and sending formal letters to borrowers.
Coordinate with internal stakeholders including loan officers, credit administration, and senior management on workout strategy and risk mitigation.
Maintain a standardized liquidation process with appropriate communication and expense and recovery log.
Assist in the development of policies and procedures to improve recovery rates and mitigate future portfolio risk.
Examine files periodically for assurance of credit and collateral documentation and credit policy conformance.
Manage the timely and accurate completion and submission of all SBA “Tab” Packages, including the Universal Purchase Package; Care & Preservation of Collateral Tabs; and Charge Off Tabs (f/k/a Wrap Up Report).
Maintain and track expense records for individual loans, and verify they are paid timely.
Prepare and timely submit Litigation Plan Tabs to SBA for approval prior to incurring $10,000 in legal fees.
Provide accurate assessment with regard to modification, credit monitoring, servicing, and liquidation requirements, including those associated with SBA lending.
Remain current on all aspects of SBA eligibility, including SBA’s Standard of Procedures (SOP 50 10 8) and Servicing and Liquidation (SOP 50 57 4).
Assist in implementing and monitoring appropriate controls.
Ensure maintenance of Bank credit standards through communication with Credit Dept. Staff.
Make recommendations and initiate enhancements as applicable.
Provide overall loan portfolio management support to ensure that the Bank’s asset quality meets stated objectives and that the emphasis of the Bank’s overall credit relationship management is consistent with the Bank’s underwriting standards.
Support, communicate, and live the Bank’s values.
Behave in a manner conducive with Bank employees, both within and outside the Bank.
Participate in the development of the Bank’s strategic objectives.
Work to recognize and take advantage of opportunities and develop solutions to challenges.
Support other Bank departments as needed.