SBA Workouts Specialist
Grasshopper Bank is a client-first, digital bank built for the business and innovation economy, with an obsession for providing leading-edge technology, solutions-driven products and superior service through a combination of passionate people and digital resources.
We are a highly experienced team who pride ourselves on diversity of thought and perspective. Nationally chartered, our portfolio of products and services range from VC, PE & Portfolio Companies to SBA Lending, as well as direct SMB and Embedded Banking.
Our entrepreneurial drive allows us to support the growth and success of a wide range of clients at every stage of their business through inclusive partnership. We seek out team members who will enable both our organization and our people to grow and thrive through collaboration and acting with integrity and respect.
Our focus on cross-functional teamwork provides a culture where ideas are valued, accountability is encouraged, and successes are celebrated. We welcome all those searching for the opportunity to contribute to banking innovation that influences and supports the emerging digital world of Financial Services.
Our digital first approach enables our teams the flexibility to work remotely. We have offices in NYC and Boston.
What you'll do:
- Maximize recoveries and minimize losses on problem assets in accordance with bank’s policy
- Work with counsel to manage litigation risks with a goal of minimizing the reputational and financial impact to GHB
- Manage problem asset strategies, workout negotiations, and restructuring and exit strategies including regular evaluation of the intrinsic values of problem asset collateral, enterprise valuations, and monitoring of secondary distressed debt markets
- Work in partnership with First Line of Defense to provide advice on strategy and methods for achieving the optimum results on recovery and/or restructuring of exposures
- Manage, in partnership with First Line of Defense to contribute problem asset expertise to develop strategy to further GHB’s strategy to maximize recoveries and lead coalescence around a strategy
- Coordinate with counsel (internal and/or external), financial advisors, technical advisors and creditors to develop cohesive strategies
- In parallel with default-rated exposures, oversee as Second Line of Defense a portfolio of Substandard Accrual exposures on GHB’s credit watch list employing workout expertise to benefit from early intervention on problem assets. This will include but is not limited to preparing for assigned portfolio counterparties risk comments on annual reviews and conducting quarterly watch list reviews and writing minutes
- Ensure LGDs, ratings, and classifications are accurate and reflect the current risk profile on each relationship in accordance with regulatory and bank policies
- Effectively communicate externally with agents, participants, counsels, financial advisors, and clients and internally with peers and senior management
- Manage external advisors retained by GHB to effectively execute on work scope and strategies
- Ensure that material information is communicated in a timely fashion and workout activities are coordinated internally
- Perform as part of an integrated team by backing up and supporting fellow team members
- Prepare closing memos with “lessons learned” when workouts are completed
- Work on special projects, as assigned
What you need:
- 7-10 years minimum of commercial loan workout and restructuring experience, with a focus on SBA loans.
- Expert knowledge of SBA lending policies, SOPs, and liquidation processes.
- Proficient in financial analysis, risk assessment, and asset valuation.
- Strong background in commercial bankruptcy law, litigation, and regulatory compliance.
- Proven success in negotiating complex workout agreements and exit strategies.
- Excellent communication and relationship management skills.
- High integrity with strong analytical and problem-solving abilities.