Associate Special Assets Officer, SBB

About UsLive Oak Bank is a digital bank that serves small business owners across the country. Our groundbreaking spin on service and technology has fueled our mission to be America’s Small Business Bank. Our products help customers buy, build, and expand their business, and our high-yield savings and CD products help them grow their hard-earned money. At Live Oak, we never lose sight of the well-being of our people.

We believe our employees are the heart of our company.

Our commitment to our customers and culture is intertwined, and we seek those who embody and embrace what it takes to empower the American dream.

How This Role Impacts Live Oak and its People The Associate Special Assets Officer, SBB will be responsible for managing a portfolio of troubled loans and implementing strategies to mitigate credit risk and maximize recovery under guidance from the Special Assets Manager. The position learns the proper servicing and liquidation of credits in a manner consistent with SBA regulations to avoid any reduction of the government guarantee as well as small business conventional loans.

What You’ll Do at Live Oak Monitor loan performance and compliance with loan agreements, escalating issues to management when needed

Manage a portfolio of troubled loans, performing financial analysis and risk assessments

Communicate with borrowers to explore repayment options and create customized workout plans based on their financial circumstances with guidance from senior members of the special assets team Collaborate with internal teams, including credit, legal, and loan servicing, to effectively manage and oversee troubled loans

Prepare and present a formal Watch List Report to Bank Management on a quarterly basis

Identify collateral accurately and complete quarterly assessments for classified collateral impairment

Under the guidance of the Special Assets Manager, develop and implement strategies to minimize losses and maximize recovery, including negotiating workout agreements with borrowers

Build strong relationships with assigned customers to monitor changes in their business and personal involvement in operations

Learn proper Servicing and Liquidation of problem loan customers and handles assigned accounts in accordance with Bank and SBA policies.

Support legal actions under the guidance of the Special Assets Manager by serving as the Bank's main contact for outside counsel

Recommend timely updates to loan risk ratings and classifications to Credit Administration With assistance from management, conduct monthly charge off analysis and recommend losses in accordance with bank policies and procedures

Follow all regulatory requirements, including those pertaining to the Bank Secrecy Act (BSA), Anti-Money Laundering (AML), Customer Identification Program (CIP), and OFAC to assist in the identification, detection, and determent of money laundering or other unlawful activities

Maintain a high standard of regulatory awareness including BSA, AML, CIP, and OFACRequired Experience Excellent customer service and interpersonal skills

Strong negotiation and problem-solving abilities

Sound judgment and attention to detail

Strong financial analysis skills

Proficiency in Microsoft Office, nCino, and loan servicing software

Deep understanding of Bank and SBA lending policies, procedures, and criteria

Willingness to travel extensively

Valid driver’s license

Preferred Experience Bachelor's degree or equivalent experience

Experience in commercial lending, servicing, or underwriting with a focus on SBABasic understanding of financial analysis and lending principles

Strong communication skills

Ability to work effectively and collaboratively within a team

Our Values Dedication:
Possess a deep commitment to Live Oak Bank’s mission and…