Portfolio Officer, VSBA Credit Department - Irving, TX

Who We Are:

VelocitySBA provides small business owners with access to growth capital through the SBA loan program. Having access to small business financing can give you the security and freedom to focus on other aspects of running your business. We can help you purchase commercial real estate and equipment, provide growth capital financing, deliver debt refinance solutions, aide with business acquisition/partner buyout, and assist small business owners with their startups.

What’s in it for You:

VelocitySBA is one of the fastest growing SBA lending institutions in the country and is actively seeking motivated individuals interested in a career in business finance.Areas of opportunity include sales/business development, underwriting, closing, servicing, marketing and more as our organization very actively implements our national growth strategy. VelocitySBA offers distinctly a team culture that is more synergistic and collaborative than typical for financial institutions, creating a stimulating and enjoyable workplace environment.Candidates joining the VelocitySBA team can expect professional development and growth working alongside the best SBA professionals in the industry. Become a part of our team and immerse yourself in a company that fosters a Great Place to Work culture!

Essential Functions and Purpose:

The SBA Portfolio Officer is a key contributor in managing SBA loans across the life of a SBA 7(a) loan. This position requires detailed knowledge of SBA industry liquidation, servicing and administration policies, procedures and compliance with a minimum of 3-5 years in SBA 7(a) loan servicing participated and liquidated loans. A detail-oriented and focused thinker with an initiative to find successful resolutions to loan portfolio and liquidation. This role is managing all aspects of fully disbursed SBA 7(a) loan default and liquidation.

Principal Responsibilities:

• Implement or assist in the development of timely workout action plans and effective follow up plans.
• Evaluate and document bank collateral position, complete business survivability assessments, and recommend alternative work out solutions as needed.
• Assist inthe collection activities on assigned accounts including broken payment follow up with borrowers, fee waiver and presenting recommendation for resolutions to approving authority.
• As needed direct legal actions, bankruptcy, foreclosure, and judgment processes, and repossession or replevin actions for the team's portfolio. Conduct and manage negotiations and meetings with attorneys and borrowers.
• Prepare complex analyses related to discounted cash flow and stabilization projections and sell recommendations for approval to senior or executive management.
• Analyze problem loans and make recommendations or approve actions to foreclose, repossess, or liquidate collateral when applicable.
• Facilitate meetings with borrowers, guarantors, business bankers, and attorneys to negotiate workout plans that will return loans to performing/pass status.
• Assist with the collections and charge-off accounts as needed.
• Maintain good working relationship with National Guaranty Purchase Center.
• Collaborates with outside counsel when necessary.
• Maintain compliance with SBA SOP 50 57 Servicing and Liquidation.
• Communicate with borrowers to monitor loan risk ratings and recommend any necessary actions.
• Notes all communications, including communication attempts in loan core system.
• Communicate with team members for any issues identified during annual review or post-closing processing.
• Monitors reports on customer communications, email bounce backs & other covenant tracking tools.
• Monitors status of customers covenants, including insurance coverage, financial statements, real estate property tax tracking, and follow up communications, including with agents, borrowers and guarantors through email, mail, and any contact phone numbers.
• Particpates in monthly Portfolio Management reviews.
• Performs all duties within the constraints of all applicable Federal, State, and local laws. Follow VelocitySBA and the U.S. Small Business Administration Policies and Procedures.
• Assist with preparation of portfolio excel reports, tables and pivots, power point presentations,.
• Ability to work with and operate in Spark and PCFS/Loan Manager platforms.
• Ability to work with cash flow spreading and basic credit analysis & assessments.

Required Qualifications:

• Minimum of 3-5 years’ experience in SBA 7(a) lender, SBLC knowledge and experience preferred
• Working knowledge of the Fair Debt Collection Act, as well as state and federal laws concerning collection activities is required.
• Basic knowledge of financial analysis, bankruptcy, workout, UCC, litigation, foreclosure of personal and real property and disposition of collateral.
• Ability to train and present to small and large audiences or has the interest in learning to train and present.
• Excellent interpersonal, written, verbal, organizational, negotiation, analytical, and decision-making skills.
• Knowledge and experience in SBA E-Tran/CAFS, FTA Systems, PACER, LexisNexis, Loan Manager preferred.
• Working knowledge of the Fair Debt Collection Act, as well as state and federal laws concerning collection activities is required.
• Ability to work in a fast-paced, customer service-oriented environment
• Attention to detail, emphasis on accuracy and strong sense of urgency
• Strong problem-solving, mathematical and analytical skills
• Ability to communicate effectively with customers, as well as upward, downward and across the organization
• Proficient in Microsoft Office suite with strong overall keyboarding, computer and internet application skills

Compensation:

• Base Salary: $105,000-$110,000/year (based on experience and qualifications)
• Plus Bonus Incentive
• Full-time position

Physical Requirements:

• Must be able to pass post offer drug test and background check

Benefits Velocity Vehicle Group Offers:

• Fantastic Culture
• 401k + match
• Health, Dental & Vision Insurance + HSA & FSA
• Employer paid Life Insurance
• Paid Vacation Days
• Sick Leave
• Company perks such as employee discounts, company events and training programs
• Excellent Training and Career Advancement Opportunities

Velocity Vehicle Group is an equal opportunity employer. Velocity Vehicle Group prohibits discrimination and harassment of any type and affords equal employment opportunities to employees and applicants without regard to race, color, religion, sex, sexual orientation, gender identity or expression, pregnancy, age, national origin, disability status, genetic information, protected veteran status, or any other characteristic protected by law.