SBA Special Assets Officer

Are you an experienced special assets or SBA liquidation professional looking for more autonomy, not more oversight? If you’ve spent your career navigating complex commercial defaults and want to bring that expertise somewhere it will genuinely shape outcomes, Celtic Bank wants to talk to you about our SBA Special Assets Officer role. You’ll own a portfolio of defaulted SBA loans from transfer through final resolution—driving liquidation strategy, directing outside counsel, and making the calls that protect recoveries and preserve the SBA guaranty. This isn’t a role where decisions get made for you; it’s one where your experience is the asset. 

At Celtic, deep expertise is respected and given room to operate. You’ll have the latitude to run your portfolio the way your experience tells you it should be run, alongside seasoned colleagues who take this work as seriously as you do, with opportunities to mentor others and continue sharpening your own craft. 

Want to know more? Apply for or ask about this opening! It’s time to work for a different kind of bank. 

What You’ll Do at Celtic Bank 

• Manage a portfolio of defaulted SBA loans throughout the entire liquidation lifecycle. 

• Coordinate and oversee judicial foreclosure proceedings from referral through final disposition. 

• Work directly with outside legal counsel to manage foreclosure actions, bankruptcy cases, receiverships, and litigation. 

• Evaluate collateral positions and develop effective liquidation strategies to maximize recoveries. 

• Prepare and submit SBA-required liquidation plans, purchase packages, wrap-up reports, and guaranty repair documentation. 

• Negotiate loan workouts, modifications, repayment agreements, settlements, deeds in lieu of foreclosure, and short sales when appropriate. 

• Review borrower financial information to determine recovery opportunities and recommend appropriate action. 

• Monitor foreclosure timelines, legal milestones, and bankruptcy deadlines to ensure compliance. 

• Order and review property valuations, environmental reports, title reports, and collateral inspections. 

• Coordinate liquidation of real estate and business assets with brokers, auctioneers, appraisers, and third-party vendors. 

• Ensure compliance with SBA SOP requirements, banking regulations, and investor guidelines throughout the liquidation process. 

• Document servicing activities accurately within loan servicing systems. 

• Prepare management reports on portfolio performance, recovery efforts, and loss mitigation activities. 

• Collaborate with Credit Administration, Loan Operations, Legal, Compliance, and external agencies to facilitate timely resolutions. 

• Recommend charge-offs, recoveries, and loss reserve adjustments based on portfolio analysis. 

• Maintain detailed loan documentation supporting SBA guaranty preservation. 

Requirements

• Bachelor’s degree in Business Administration, Finance, Accounting, Legal Studies, or related field preferred (equivalent experience considered). 

• 5+ years of experience managing SBA loan liquidations, special assets, commercial collections, or loan servicing. 

• 5+ years of direct experience handling judicial foreclosures involving commercial real estate. 

• Extensive knowledge of SBA 7(a) loan servicing and liquidation requirements, including SOP 50 57 (or current version). 

• Experience with OREO processes and disposition. 

• Experience working with attorneys, bankruptcy trustees, receivers, and court systems. 

• Strong understanding of commercial lending, collateral valuation, UCC filings, bankruptcy, receiverships, and foreclosure law across multiple jurisdictions. 

• Excellent negotiation, analytical, and decision-making skills. 

• Strong organizational skills with the ability to manage multiple high-risk loans simultaneously. 

• Proficiency with loan servicing systems, Microsoft Office Suite, and document management software. 

Benefits

• Medical, dental, vision
• 401(k) with employer match
• Life and long-term disability coverage
• HSA and FSA plans
• Holidays and paid time off requests
• Robust wellness program (we’re talking catered meals three times a weeks, lunch and learns, and onsite gym.)

Headquartered in the heart of downtown Salt Lake City, Utah, Celtic Bank was named a top SBA lender in the nation in 2023! Celtic Bank is a leading nationwide lender specializing in SBA 7(a), SBA 504, USDA B&I, express loans, asset-based loans, comme