Small Business Loan Workout Officer I

Description

The Small Business Loan Workout Officer supports the management and resolution of delinquent, criticized, and non-performing small business loans, including vehicle, credit card, equipment, and SBA-guaranteed lending products. This role works closely with Commercial Lending, Collections, and Special Assets teams to assist in developing and implementing workout, collection, recovery, and liquidation strategies that help protect the credit union’s assets while supporting borrower success whenever possible.

Here’s what you can expect from the job and what you need to be successful:

What You'll Do:

• Assist in the management of delinquent, criticized, and non-performing small business vehicle, visa, equipment, and SBA-guaranteed loans.
• Monitor borrower payment performance, collateral documentation, insurance coverage, and lien status to identify potential credit concerns.
• Update loan risk ratings, tracking reports, and portfolio records in accordance with credit union policies and procedures.
• Escalate emerging risks and borrower issues to senior workout officers and management as appropriate.
• Support the development and implementation of workout, collection, recovery, and liquidation strategies for problem loans.
• Review borrower financial statements, tax returns, and other supporting documentation to assist in evaluating repayment capacity and collateral adequacy.
• Assist with the preparation of credit memoranda, action plans, modification requests, and management reports.
• Coordinate loan modifications, payment arrangements, extensions, and settlement agreements under management guidance.
• Participate in collateral inspections and site visits as needed.
• Collaborate with collections to conduct collection activities, including borrower outreach, payment follow-up, and documentation of collection efforts.
• Assist with repossession, collateral recovery, vehicle and equipment liquidation, and other recovery activities.
• Coordinate with internal departments, vendors, attorneys, and collection agencies to support recovery efforts.
• Monitor charged-off accounts and assist in pursuing recovery opportunities.
• Maintain complete and accurate loan files, including financial information, correspondence, collateral records, and approval documentation.
• Ensure workout and collection activities comply with credit union policies, regulatory requirements, and SBA guidelines when applicable.
• Assist with audits, examinations, and regulatory reviews by providing accurate and timely documentation.
• Maintain detailed records of borrower interactions, action plans, and recovery efforts.
• Collaborate with Commercial Lending, Collections, Special Assets, and other business partners to support portfolio management objectives.
• Participate in training and professional development to build expertise in workout, collections, and recovery processes.
• Perform other duties and special projects assigned to support departmental and organizational goals.

Essential

Skills:

• Bachelor's degree in Finance, Accounting, Business Administration, or a related field, or an equivalent combination of education and experience.
• 1-3 years of experience in banking, lending, collections, loan servicing, customer service, credit analysis, or a related financial services environment preferred.
• Basic knowledge of lending principles, credit risk, financial statement analysis, loan documentation, and small business, consumer, vehicle, or equipment lending products.
• Strong analytical, problem-solving, organizational, and time-management skills with the ability to manage multiple priorities while maintaining accuracy and attention to detail.
• Effective written and verbal communication skills, including the ability to interact professionally with borrowers, vendors, and internal stakeholders and navigate difficult conversations with empathy and professionalism.
• Proficiency in Microsoft Office applications, including Outlook, Word, and Excel.
• Ability to learn and apply credit union policies, lending regulations, collections practices, workout strategies, collateral recovery processes, and SBA servicing requirements.
• Ability to work independently, exercise sound judgment, and escalate…