Asset Manager II SBA

Company: Solugenix Corp
Location: Los Angeles
Posted on: April 20, 2025

Job Description:

Asset Manager II SBA

Check below to see if you have what is needed for this opportunity, and if so, make an application asap.
Los Angeles, CA (Hybrid)
Open-Ended Contract
Job ID 25-09579

Solugenix is assisting a client in their search for an Asset Manager II SBA. This is an open-ended contract opportunity based out of Los Angeles, CA (Hybrid).

The Asset Manager II (AM) is responsible for the restructuring/workout of problem Commercial and Industrial (C&I) and Real Property secured commercial loans. The AM negotiates with commercial obligors to cure defaulted loans and possible loan modifications. The commercial CORE loan portfolio consists of loans secured by Uniform Commercial Code (UCC) liens, Commercial and Residential Real Estate, and many Small Business Credit Initiative (SSBCI) loan guarantee programs.

The AM's objectives are to ensure the preservation of the lender's security interests and maximize the collection and recovery of loan balances while mitigating credit losses and risk exposures. The AM is the primary contact for both internal and external communications associated with the individual troubled loans. They manage the workout strategies, negotiations, and terms of the loans.

The AM must have experience working on complex credits of all types, e.g., commercial and residential real property, business personal property, and SSBCI loan guarantee programs. They must have a strong working knowledge of workout strategies, commercial credit analysis, problem loan structuring, contracts, bankruptcy laws, OREO management and market dynamics. The position requires excellent written and verbal communication and time management skills. Some travel may be required.

Qualifications:

Bachelor's degree in business administration, accounting, finance or a related field.
Minimum of 7 years to over 15 years of experience managing defaulted commercial loan workouts and collections in a commercial bank or equivalent environment.
Demonstrated history of successful problem asset resolution and risk management.
Developing an appropriate strategy and action plan, as well as implementation to resolve the problem loan and mitigate the company's risk.
Experience includes workouts and restructurings, litigation, repossession, liquidation, receiverships, bankruptcy, and judicial and non-judicial real estate foreclosures.
Experience in SSBCI workouts that includes a thorough understanding of the SSBCI government program requirements, protecting the loan's SSBCI guarantees, and filing required notices and claims.
Underwriting and loan management skills for varied loan types including commercial and industrial loans, real estate loans, lines of credit, ABL loans, secured, and unsecured loans.

Responsibilities:

Manage a portfolio of defaulted, problem, and/or non-performing commercial loans, with loan balances up to $10 million.
Determine the root cause of the default/problem and work with the obligors to identify a path to cure the default or mitigate the risk.
Develop and recommend to management workout strategies or other course of action that result in maximizing collection and recoveries while mitigating risks and credit losses, e.g., restructures, forbearances, legal action, settlements, foreclosures, litigation, liquidation, note sales, and other actions.
Perform daily collection calls on delinquent/defaulted loans, document conversations, and write and send written correspondence. Prepare default letters, pre-negotiation agreements and workout agreements.
Perform Skip Tracing functions to locate obligors and collateral.
Collection and analysis of updated commercial and individual financial, tax returns, insurance, commercial and consumer credit reports, and other relevant information.
Timely submission of required reporting, e.g., downgrade/upgrade of Risk Ratings, Non-Accrual, Problem Loan Reports, Workout Credit Memos, Charge Off Memos, and SSBCI loan guarantee forms.
Submission of SSBCI claims and follow-up with the government agency.
Preservation of the lender's security interests and the loan's SSBCI guarantees.
Partnering with in-house counsel and outside counsel on litigation, bankruptcies, and risks.
Manage the foreclosure process on real property secured loans by partnering with the trustee.
Manage the repossession and liquidation of business personal property by partnering with liquidators, auctioneers, repossession agents, etc.
Collect and analyze relevant information for loan workouts, collateral liquidation, and legal actions.
Analyze the company's collateral position relative to problem loans and ensure accurate internal reporting.
Review, monitor and strategize for bankruptcies and other legal proceedings.
Work with internal and external customers on a variety of issues (payment posting, grade changes, billing issues, and pay-offs).
Identify and report to appropriate management the correction of any significant document or other discrepancies pertaining to loan and collateral.
Respond promptly to customer inquiries.
Monitor the ongoing performance of the loans being paid under forbearances, settlements, modifications, etc.
Monitor bankruptcy proceedings of loans in the collection portfolio.
Develop and implement strategies to maximize individual loan recoveries. Manage the recovery of charged-off loans.
Prepare and present status reports.
Address the obligors' delinquent property taxes and missing current insurance for the loan's collateral. Recommend to management advancing funds to pay delinquent real property taxes if a tax lien sale is approaching and/or force placing insurance.
Analyze collateral value.
Review real estate appraisal reports, research current market data, business evaluation reports, accounts receivable audits, operating statements, etc.

Proficiencies:

Underwriting and management skills for varied loan types including C&I loans, real estate secured loans, lines of credit, Asset Based Loans (ABL), and secured and unsecured loans.
Familiarity with the legal issues involved with distressed loans such as litigation, bankruptcy actions, foreclosures, probate claims, performance claims, and post-judgment recovery remedies.
Knowledge and adherence to relevant government regulations, e.g., Fair Debt Collection Practices Act, UDAAP, Telephone Consumer Protection Act, etc.
Accounting and finance knowledge.
Must possess strong computer skills, including Excel.
Excellent written and verbal communication and time management skills.

Pay Range for CA, CO, IL, NJ, NY, WA, and DC: $45/hour to $55/hour. Starting rate of pay offered may vary depending on factors including but not limited to, position offered, location, education, training and/or experience.

Solugenix will consider qualified applicants with a criminal history pursuant to the California Fair Chance Act and Ordinance. Applicants do not need to disclose their criminal history or participate in a background check until a conditional job offer is made to you. After making a conditional offer and running a background check, if we are concerned about conviction that is directly related to the job, applicants will be given the chance to explain the circumstances surrounding the conviction, provide mitigating evidence, or challenge the accuracy of the background report.

About the Client
Our client is a fintech company that offers business loans based out of Southern California.

About Solugenix
Solugenix is a leader in IT services, delivering cutting-edge technology solutions, exceptional talent, and managed services to global enterprises. With extensive expertise in highly regulated and complex industries, we are a trusted partner for integrating advanced technologies with streamlined processes. Our solutions drive growth, foster innovation, and ensure compliance-providing clients with reliability and a strong competitive edge.
Recognized as a 2024 Top Workplace, Solugenix is proud of its inclusive culture and unwavering commitment to excellence. Our recent expansion, with new offices in the Dominican Republic, Jakarta, and the Philippines, underscores our growing global presence and ability to offer world-class technology solutions. Partnering with Solugenix means more than just business-it means having a dedicated ally focused on your success in today's fast-evolving digital world.

Keywords: Solugenix Corp, Santa Clarita , Asset Manager II SBA, Executive , Los Angeles, California