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Commercial Loan Liquidation Specialist
2 weeks ago
The Commercial Loan Liquidation Specialist is housed within the Bank’s Special Assets Division to facilitate collateral recovery and the workout of defaulted or high-risk commercial loans. The liquidation component of the position will require the securement and recovery of collateralized assets via foreclosure and repossession channels. The workout component will involve the satisfaction of high-risk Borrowers in preventing default or charge-off. Effective communication with stakeholders is required to properly accomplish the demands of this position, and the ideal candidate must possess strong problem-solving skills, negotiation skills, and critical thinking to supply the best outcomes. The position offers a competitive salary, and the following is a list of responsibilities you may be asked to oversee, but not limited to:
Essential Job Functions:
- Develop and implement collateral liquidation strategies that are consistent with Bank and Small Business Administration policies.
- Foreclosure Case Management and liaison to Celtic Bank legal counsel.
- Bankruptcy Case Management and liaison to Celtic Bank legal counsel.
- Prepare and analyze collateral equity calculations to determine recovery estimates.
- Communicate with high-risk Borrowers on collateral liquidation and workout agreements.
- Facilitate loan recommendations through written proposals by maintaining structured communication amongst multiple stakeholders.
- Effectively market and sell collateralized assets for maximum recovery.
- Manage real estate and the OREO Portfolio.
- Loan restructuring.
- Perform late-stage delinquency responsibilities.
- Budget management and oversight of expenditures.
- Order site inspections, appraisals, environmental reports, and foreclosure reports.
- Prepare Offer in Compromise (settlement) packages to the Small Business Administration.
- Small Business Administration related tasks.
- Bankruptcy case onboarding and maintenance.
- Other tasks and projects as assigned.
Requirements
- 3+ years commercial lending experience within the OREO, Liquidation, and/or Legal arenas.
- Preferred SBA and Bankruptcy experience.
- Four-year or undergraduate degree required.
- Strong analytical skills and problem-solving.
- Ability to thrive in a deadline-driven environment.
- Detail oriented and possess excellent interpersonal, organizational, and communication (verbal and written) skills.
- Ability to thrive in fast-paced work environment.
- Outgoing personality with the ability to effectively resolve issues.
- Working knowledge of financial statements, cash flow analyses and loan structuring.
- Strong technical skills - including but not limited to Microsoft Office suite, web-based applications, and SharePoint/OneDrive.
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 2024 Celtic Bank is a leading nationwide lender specializing in SBA 7(a), SBA 504, USDA B&I, express loans, asset-based loans, commercial real estate loans and commercial construction loans.
Celtic Bank is an equal opportunity employer and complies with all applicable federal, state and local fair employment practices laws.
Physical and Other Requirements
This job operates in a professional office environment. This role routinely uses standard office equipment such as computers, phones, photocopiers, filing cabinets and fax machines. The demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job.
- Stationary Work: The employee is frequently required to stand; walk; use hands to type, handle documents, and perform other office related duties. Exerting up to 10 pounds of force occasionally and/or negligible amount of force frequently or constantly to lift, carry, push, pull or otherwise move objects.
- Mobility: The employee in this position needs to occasionally move between work sites and inside the office to access file cabinets, office machinery, etc.
- Communicate: The employee is regularly required to talk or hear and will frequently communicate with others. Must be able to read, write and understand fluent English.
- Work Model: The employee in this position will work either a fully Onsite or Hybrid work model. All employees, regardless of location, may be required to travel to the Salt Lake City office for mandatory company meetings, events, or related occasions.
- Utah-based employees: Hybrid work schedule available after initial training period in our Salt Lake City, Utah office – department and job requirements will determine eligibility.
