SBA Special Assets Officer

Celtic Bank • Salt Lake City, UT

1d • Hybrid

About The Position

Celtic Bank is seeking an experienced SBA Special Assets Officer to manage a portfolio of defaulted SBA loans from transfer through final resolution. This role offers autonomy and the opportunity to shape outcomes by driving liquidation strategy, directing outside counsel, and making decisions that protect recoveries and preserve the SBA guaranty. The ideal candidate will have deep expertise in navigating complex commercial defaults and will be given the latitude to manage their portfolio effectively alongside seasoned colleagues. Celtic Bank is a leading nationwide lender specializing in various loan types and was recognized as a top SBA lender in 2023.

Requirements

• Bachelor’s degree in Business Administration, Finance, Accounting, Legal Studies, or related field preferred (equivalent experience considered).
• 5+ years of experience managing SBA loan liquidations, special assets, commercial collections, or loan servicing.
• 5+ years of direct experience handling judicial foreclosures involving commercial real estate.
• Extensive knowledge of SBA 7(a) loan servicing and liquidation requirements, including SOP 50 57 (or current version).
• Experience with OREO processes and disposition.
• Experience working with attorneys, bankruptcy trustees, receivers, and court systems.
• Strong understanding of commercial lending, collateral valuation, UCC filings, bankruptcy, receiverships, and foreclosure law across multiple jurisdictions.
• Excellent negotiation, analytical, and decision-making skills.
• Strong organizational skills with the ability to manage multiple high-risk loans simultaneously.
• Proficiency with loan servicing systems, Microsoft Office Suite, and document management software.

Responsibilities

• Manage a portfolio of defaulted SBA loans throughout the entire liquidation lifecycle.
• Coordinate and oversee judicial foreclosure proceedings from referral through final disposition.
• Work directly with outside legal counsel to manage foreclosure actions, bankruptcy cases, receiverships, and litigation.
• Evaluate collateral positions and develop effective liquidation strategies to maximize recoveries.
• Prepare and submit SBA-required liquidation plans, purchase packages, wrap-up reports, and guaranty repair documentation.
• Negotiate loan workouts, modifications, repayment agreements, settlements, deeds in lieu of foreclosure, and short sales when appropriate.
• Review borrower financial information to determine recovery opportunities and recommend appropriate action.
• Monitor foreclosure timelines, legal milestones, and bankruptcy deadlines to ensure compliance.
• Order and review property valuations, environmental reports, title reports, and collateral inspections.
• Coordinate liquidation of real estate and business assets with brokers, auctioneers, appraisers, and third-party vendors.
• Ensure compliance with SBA SOP requirements, banking regulations, and investor guidelines throughout the liquidation process.
• Document servicing activities accurately within loan servicing systems.
• Prepare management reports on portfolio performance, recovery efforts, and loss mitigation activities.
• Collaborate with Credit Administration, Loan Operations, Legal, Compliance, and external agencies to facilitate timely resolutions.
• Recommend charge-offs, recoveries, and loss reserve adjustments based on portfolio analysis.
• Maintain detailed loan documentation supporting SBA guaranty preservation.

Benefits

• Medical, dental, vision
• 401(k) with employer match
• Life and long-term disability coverage
• HSA and FSA plans
• Holidays and paid time off requests
• Robust wellness program (we’re talking catered meals three times a weeks, lunch and learns, and onsite gym.)

What This Job Offers

• Job Type: Full-time
• Career Level: Senior