SBA Loan Workout Officer

Banesco USA•St. Petersburg, FL

About The Position

Banesco USA is seeking an SBA Loan Workout Officer for our SBA Special Assets Business Unit. Primary Job Duties Responsible for all aspects of managing, maintaining and selling company owned OREO property at a complex level for multiple property types, including single family residences. Assists senior management in evaluating collateral, loan documentation, and financial information to determine Bank’s position in current economic environments. Manage problem assets or loans in a workout capacity, providing resolutions to a diverse range of complex problems. Analyzes complex financial statements and tax returns. Responsible for minimizing risk in the portfolio, including risk ratings, accrual status, TDR status, ASC 310 analysis. Manages foreclosures, negotiates deeds-in-lieu, short sales, note sales, restructures and modifications. Assists senior management with negotiations between bank and borrowers and borrowers’ counsel, and makes necessary judgments based on conditions presented to protect the bank’s interest and achieve maximum recovery. Responsible for all income and expense management for all properties, as appropriate. Liaison to title, escrow, and foreclosure company relationships, as needed. Responsible for evaluating and contracting with property management companies, as appropriate. Responsible for the negotiation and management of leases, maintenance agreements, HOA’s, listing, sales contracts and agreements, and all other documents as may be appropriate, in accordance with company policy and regulation. Responsible for monitoring and preparing various reports for management. Must comply with applicable laws and regulations, including but not limited to, the Bank Secrecy Act, the Patriot Act, and the Office of Foreign Assets Control, in addition to all company policies

Requirements

A minimum of 3+ years of underwriting, including loan review and collections experience or a combination thereof.
Also requires a working knowledge of loan restructurings and collection, bankruptcy and foreclosure laws, along with a general understanding of legal proceedings.
Bachelor’s degree in accounting, finance, economics, business administration, or related field.
A significant level of trust, credibility and diplomacy is required.
In-depth dialogue, conversations and explanations with customers, direct and indirect reports and outside vendors can be of a sensitive and/or highly confidential nature.
Communications may involve motivating, influencing, educating and/or advising others on matters of significance.
Typically includes subject matter experts as well as first level to middle managers.

Nice To Haves

SBA workout experience a plus

Responsibilities

managing, maintaining and selling company owned OREO property
evaluating collateral, loan documentation, and financial information
Manage problem assets or loans in a workout capacity
analyzing complex financial statements and tax returns
minimizing risk in the portfolio, including risk ratings, accrual status, TDR status, ASC 310 analysis
manages foreclosures, negotiates deeds-in-lieu, short sales, note sales, restructures and modifications
assists senior management with negotiations between bank and borrowers and borrowers’ counsel
responsible for all income and expense management for all properties
liaison to title, escrow, and foreclosure company relationships
evaluating and contracting with property management companies
negotiation and management of leases, maintenance agreements, HOA’s, listing, sales contracts and agreements
monitoring and preparing various reports for management
comply with applicable laws and regulations, including but not limited to, the Bank Secrecy Act, the Patriot Act, and the Office of Foreign Assets Control, in addition to all company policies