Special Assets Department Manager

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CBB Bank - Commonwealth Business Bank provided pay range

This range is provided by CBB Bank - Commonwealth Business Bank. Your actual pay will be based on your skills and experience — talk with your recruiter to learn more.

Base pay range

$150,000.00/yr - $170,000.00/yr

Full-time on-site office setting in Los Angeles, CA

Position Summary

• The Special Asset Department Manager is responsible for overseeing the management and resolution of distressed and non-performing loans (NPLs) within the bank’s loan portfolio. This role is critical in minimizing losses, maximizing recoveries, and ensuring regulatory compliance, while maintaining the community-focused values of the bank.
• The Special Asset Manager is responsible for managing a portfolio of underperforming or defaulted SBA-guaranteed loans. This role involves overseeing all aspects of loan liquidation, including collections, loss mitigation, workouts, charge-offs, and recovery efforts, in compliance with SBA Standard Operating Procedures (SOPs).
• The Special Asset Manager is responsible for overseeing the management, marketing, and disposition of Other Real Estate Owned (OREO) properties acquired through foreclosure or deed-in-lieu. This role ensures that assets are preserved, marketed, and sold in a manner that maximizes recovery and complies with regulatory and internal policy requirements.

Key Responsibilities

• Lead the Special Assets team in managing criticized and classified loans.
• Develop and execute strategies for loan workouts, restructures, and recoveries.
• Collaborate with legal counsel, credit officers, and external consultants on foreclosure, litigation, and asset disposition.
• Maintain detailed documentation and reporting for internal and regulatory purposes.
• Conduct regular portfolio reviews and risk assessments.
• Serve as a liaison with borrowers to negotiate repayment plans or settlements.
• Ensure compliance with banking regulations and internal credit policies.

Qualifications

• Bachelor’s degree in Finance, Accounting, or related field.
• 10+ years of experience in commercial lending, credit risk, or special assets.
• Strong knowledge of loan documentation, bankruptcy, and foreclosure processes.
• Excellent negotiation, analytical, and leadership skills.
• Familiarity with community banking values and customer relationship management.

Preferred Attributes

• Familiarity with legal proceedings related to loan enforcement and bankruptcy.
• Experience working with external legal counsel and asset recovery firms.
• Experience with The Universal Purchase Package (UPP) is a standardized document developed by the SBA to streamline the process for lenders requesting that the SBA honor its guaranty on 7(a) loans , regardless of loan size or program type.
• Experience working in a community bank or regional financial institution.
• Ability to balance risk management with customer service.
• Strong interpersonal skills and a collaborative mindset.

Department Overview

The Special Assets Department is dedicated to managing and resolving distressed assets within the bank’s portfolio. This department plays a crucial role in mitigating risks and maximizing recoveries, ensuring the financial stability of the bank.

Reporting Structure

The Special Asset Department Manager reports directly to the Chief Credit Officer. The manager leads a team of asset managers and analysts, collaborating closely with legal, credit, and collections departments.

Performance Metrics

• Reduction in non-performing loans (NPLs).
• Recovery rate of distressed assets.
• Compliance with regulatory requirements.
• Efficiency in loan workout and restructuring processes.
• Customer satisfaction and retention rates.

SBA-Related Responsibilities

• Manage and oversee distressed SBA loans within the bank’s portfolio.
• Develop strategies for the recovery and resolution of non-performing SBA loans.
• Collaborate with SBA representatives and legal counsel on loan workouts and restructures.
• Ensure compliance with SBA guidelines and regulations during asset recovery processes.
• Prepare detailed reports on the status and performance of SBA loans for internal and regulatory review.
• Manage a portfolio of delinquent or non-performing SBA 7(a) and 504 loans.
• Develop and implement resolution strategies including workouts, forbearance, and liquidation plans.
• Prepare and submit SBA-required documentation such as liquidation plans, site visit reports, and repurchase packages.
• Coordinate with legal counsel, third-party vendors, and SBA representatives during the liquidation process.
• Ensure compliance with SBA SOPs and internal policies throughout the servicing and liquidation process.
• Conduct collateral analysis and determine recovery strategies.
• Maintain accurate records and reporting for internal and SBA audits.
• Monitor and report on portfolio performance, recovery rates, and loss mitigation outcomes.

SBA-Related Qualifications

• Experience with SBA loan programs and regulations.
• Proven track record in managing distressed SBA loans and asset recovery.
• Strong understanding of SBA loan documentation and compliance requirements.
• Ability to negotiate and restructure SBA loans effectively.
• Excellent analytical and problem-solving skills related to SBA loan management.

Rewards Package

• Medical Insurance
• Vision Insurance
• Life Insurance
• Paid Time Off
• 401(k) with Matching Contributions

We offer a competitive total rewards package, including but not limited to Medical, Dental, Vision, and Life Insurance, 401k retirement savings plan, and paid federal holidays, for this full-time position within the annual salary range of $150,000 - $170,000. Annual pay ranges are determined based on qualifications, level, and location. Exact compensation may vary based on your skills and experience.

Must be authorized to work in the US.

We are an Equal Opportunity Employer. All applicants will receive consideration for employment without regard to race, color, ancestry, religion, sex, national origin, sexual orientation, age, marital status, disability, gender identity, gender expression, genetic information, or military or Veteran status, or any other characteristic protected by law.

Seniority level

• Seniority level

  Mid-Senior level

Employment type

• Employment type

  Full-time

Job function

• Job function

  Finance

• Industries

  Financial Services and Banking

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Inferred from the description for this job

Medical insurance

Vision insurance

401(k)

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