Loan Workout Officer

NewtekOne®, Your Business Solutions Company®, is a financial holding company, which along with its bank and non-bank consolidated subsidiaries, provides a wide range of business and financial solutions under the Newtek® brand to the small- and medium-sized business ("SMB") market. Since 1999, Newtek has provided state-of-the-art, cost-efficient products and services and efficient business strategies to SMB relationships across all 50 states to help them grow their sales, control their expenses, and reduce their risk.

Newtek's and its subsidiaries' business and financial solutions include: Banking (Newtek Bank, N.A.), Business Lending, Electronic Payment Processing, Technology Solutions (Cloud Computing, Data Backup, Storage and Retrieval, IT Consulting), eCommerce, Accounts Receivable Financing & Inventory Financing, Insurance Solutions, Web Services, and Payroll and Benefits Solutions.

Small Business Lending LLC is looking for a Loan Workout Officer.

Under the direction of the SVP, Asset Management, incumbent will establish relationships with existing borrowers to identify and resolve problems in an effort to reduce delinquent accounts. Incumbent will use both advanced collection and credit skills to identify red flags. Directly responsible for the maintenance, processing and administration of high risk rated loans. Will successfully cross-sell appropriate and/or additional company products and services to new and existing customer.

Essential Functions & Responsibilities

• Responsible for the maintenance and restructure of past due loans as necessary
• Collection calls for all loans over 30 days past due
• Analyze and identify problems from verbal conversations
• Follow-up with borrowers/guarantors for updated personal financial statements and/or tax returns
• Review financial condition and operating trends of clients for changes adversely affecting asset quality and value of the business
• Negotiate adjusted payment time frames in order to reduce delinquent accounts
• Responsible for periodic credit write-up on accounts for management review
• Participate in the documentation and implementation of loan amendments and restructures
• Act as liaison and work closely with the SBA
• Ordering site visits on all accounts past due payments forty-five (45) days or more
• Assist the manager on field calls when applicable
• Prepare monthly reports for senior management
• Cross Selling other Newtek services to a new or existing customer with the belief that you are creating a partnership and serving the customer by introducing them to additional products or services that assist the business owner in increasing sales, reducing expenses and minimizing risk
• When an opportunity is uncovered the customer should be live transferred to the appropriate Business Service Specialist (BSS) or a referral should be put into Newtracker
  
  

Knowledge, Skills & Abilities

• Computer literate; proficient with Microsoft Office products, i.e. Word, Excel, etc.
• Excellent attention to detail, follow up and problem solving
• Strong analytical, negotiation and organization skills
• Keen listening, verbal and written communication skills
• Ability to resolve problems with minimal guidance
• Experience with PCSF 2000 Loan Manager loan system preferred
• Must be familiar with Bankruptcy Code Chapters (7, 11, 13) and must be able to work effectively with outside attorneys
• Knowledge of foreclosures (judicial, non-judicial, deed in lieu of foreclosure, ff&e and corporate stocks) is a must
• Working understanding of loan collection, regulations and legal collection process
• Ability to work on multiple projects simultaneously, managing time and resources to ensure work is completed efficiently and within established time frames.
• Ability to establish and maintain effective work relationships both internally and externally.
• Knowledge of banking principals, policies, and procedures.
• Minimum of five (5) years' experience handling commercial transaction
  
  

Education & Certification Requirements

• Bachelor's Degree with an Accounting background preferred with complete reconciliation experience.
  
  

Salary Range: $80,000 to $120,000 per year

NewtekOne is an Equal Opportunity Employer; M/F/D/V. We require all of our employees to work in an ethical manner and uphold our Code of Business Conduct and Ethics at all times.