Note: The job is a remote job and is open to candidates in USA. NewtekOne is a financial holding company providing a wide range of business and financial solutions to the SMB market. The Workout Operations Specialist will provide operational and administrative support to the Workout Department, assisting in the management of distressed loan portfolios and ensuring compliance with regulatory requirements.
Responsibilities
- Prepare and distribute loan reports reflecting changes in accrual status, servicing status, charge-offs, and other portfolio activity
- Order property valuations using Newtek's Automated Valuation Method (AVM) vendor to support loan reserve calculations
- Assist Workout Managers with the transfer of newly assigned loans by utilizing company reports and coordinating with loan servicing staff to obtain required documentation
- Support Workout Officers by ordering site visits, asset searches, and preparing loan-specific correspondence and other documentation as needed
- Maintain and update the monthly company risk rating change log, ensuring all supporting documentation is received, complete, and properly maintained
- Review SBA loans to determine potential eligibility for repurchase by following established policies, procedures, and standardized decision criteria
- Coordinate with internal departments and third-party vendors to ensure timely completion of operational requests
- Maintain accurate loan files and ensure documentation is organized, complete, and compliant with company policies and regulatory requirements
- Participate in Community Reinvestment Act (CRA) activities and initiatives, including community outreach, volunteer events, financial education programs, and related efforts, as assigned
- Perform other duties and special projects as assigned
Skills
- 2–4 years of experience in commercial loan servicing, loan operations, workout, special assets, banking, or a related financial services environment
- Strong organizational skills with the ability to manage multiple priorities and meet deadlines
- Excellent attention to detail and accuracy in reporting and documentation
- Proficiency in Microsoft Office Suite, particularly Excel and Word
- Strong written and verbal communication skills
- Ability to work independently while collaborating effectively with cross-functional teams
- Associates or Bachelor's degree in Finance, Accounting Business or other related field
- Working knowledge of SBA lending and servicing practices
Company Overview