VP Special Assets Workout Officer

Purpose:

Vice President, Special Assets Workout Officer for FinWise Bank (the “Bank”) is primarily responsible with managing and resolving a portfolio of non-performing loans, primarily comprised of U.S. Small Business Administration (“SBA”) 7(a) loans. This critical role requires strong knowledge of collections, loan restructuring, and legal remedies, including bankruptcy, foreclosure, and judgment enforcement. The ideal candidate will have at least 5 years of experience in commercial special assets management, strong negotiation skills, and the ability to lead recovery efforts while preserving asset value and minimizing losses in a timely and cost-effective manner while remaining in compliance with Bank Policy and SBA rules and regulations as outlined in the SBA Standard Operating Procedure 50 57 3.1 and 50 10 8.

Vice President, Special Assets Workout Officer will work closely with the Chief Credit Officer; Assistant Vice President – Special Assets and Servicing; Senior SBA Servicing Manager; and other Credit Dept. Staff.

Tasks:

Vice President, Special Assets Workout Officer will:

• Manage a diverse portfolio of criticized, substandard, and non-performing loans, primarily consisting of SBA 7(a) and other commercial credit relationships.
• Develop and execute individualized workout strategies, including loan modifications, forbearance agreements, collateral liquidation, and legal action when necessary.
• Navigate and manage SBA 7(a) loan workout processes, including compliance with SBA servicing and liquidation guidelines, file documentation, and timely submission of required reporting.
• Collaborate with external counsel on legal remedies including Chapter 7, 11, and 13 bankruptcies, judicial and non-judicial foreclosures, and collection litigation.
• Pursue recovery strategies including money judgment enforcement, asset seizure, UCC lien enforcement, and personal guarantor recoveries.
• Maintain detailed loan documentation, risk ratings, action plans, and reporting in accordance with bank policies and regulatory requirements.
• Ensure accurate guaranty recovery submissions and maximize reimbursement potential.
• Coordinate with internal stakeholders including loan officers, credit administration, and senior management on workout strategy and risk mitigation.
• Prepare and present periodic reports and updates on portfolio performance, individual asset status, and loss forecasts.
• Assist in the development of policies and procedures to improve recovery rates and mitigate future portfolio risk.
• Manage the timely and accurate competition and submission of all SBA “Tab” Packages, including the Universal Purchase Package; Care & Preservation of Collateral Tabs; and Charge Off Tabs (f/k/a Wrap Up Report).
• Prepare and timely submit Litigation Plan Tabs to SBA for approval prior to incurring $10,000 in legal fees.

• Provide accurate assessment with regard to modification, credit monitoring, servicing, and liquidation requirements, including those associated with SBA lending.

• Remain current on all aspects of SBA eligibility, including SBA’s Standard of Procedures (SOP 50 10 8) and Servicing and Liquidation (SOP 50 57 3.1).
• Maintain a standardized liquidation process with appropriate communication and expense and recovery log.
• Assist in implementing and monitoring appropriate controls.
• Examine files periodically