What are the responsibilities and job description for the SBA Workout & Liquidation Manager position at LendingClub?
Current Employees of LendingClub: Please apply via your internal Workday Account
LendingClub Corporation (NYSE: LC) is the parent company of LendingClub Bank, National Association, Member FDIC. We are the leading digital marketplace bank in the U.S., having helped our nearly 5 million members secure over $90 billion in loans to refinance high-cost debt and achieve their financial goals. Members today have mobile-first access to a growing range of products and services designed to work seamlessly together to deliver value in new ways. Everyone deserves a better financial future, and our team is committed to making that a reality. Join the Club!
About The Role
A leading nationwide small business lending group seeks dynamic individual for a SBA Workout & Liquidation Manager. This position is responsible for the ongoing monitoring of problem loans in the SBA portfolio, to maximize recovery to the Bank and SBA through prudent implementation of workout and liquidation strategies to mitigate loss. The position will report to the Senior Director of Commercial Credit.
What You'll Do
About You
San Francisco or Lehi
We are currently working a hybrid schedule and our teams are in-office Tuesdays, Wednesdays, and Thursdays.
Time Zone Requirements
Primarily PT
Primarily MT
Travel Requirements
If you need to travel for work, LendingClub will cover your travel related expenses.
Compensation
The target base salary range for this position is 80,000-120,000. The position is also eligible to receive a bonus (which is based on company performance, employee performance and eligible earnings), equity, and benefits. Our salary ranges, other compensation and benefits offered are determined by role, experience level and location.
We’re creating new financial services solutions for our members based on fairness, simplicity, and heart, and we treat our employees the same way. We offer a competitive benefits package that includes medical, dental and vision plans for employees and their families, 401(k) match, health and wellness programs, flexible time off policies for salaried employees, up to 16 weeks paid parental leave and more.
LendingClub is an equal opportunity employer and dedicated to diversity, equity, and inclusion in the workplace. We do not discriminate on the basis of race, religion, color, national origin, sex (including pregnancy, childbirth, reproductive health decisions, or related medical conditions), gender, gender identity, gender expression, sexual orientation, age, marital status, veteran status, disability status, political views or activity, or other applicable legally protected characteristics. We believe that a variety of perspectives will make our teams and business stronger as we work together to transform the traditional banking system.
We are committed to providing reasonable accommodations for qualified individuals with disabilities in our job application process. If you need assistance or an accommodation due to a disability, please contact us at interviewaccommodations@lendingclub.com.
LendingClub Corporation (NYSE: LC) is the parent company of LendingClub Bank, National Association, Member FDIC. We are the leading digital marketplace bank in the U.S., having helped our nearly 5 million members secure over $90 billion in loans to refinance high-cost debt and achieve their financial goals. Members today have mobile-first access to a growing range of products and services designed to work seamlessly together to deliver value in new ways. Everyone deserves a better financial future, and our team is committed to making that a reality. Join the Club!
About The Role
A leading nationwide small business lending group seeks dynamic individual for a SBA Workout & Liquidation Manager. This position is responsible for the ongoing monitoring of problem loans in the SBA portfolio, to maximize recovery to the Bank and SBA through prudent implementation of workout and liquidation strategies to mitigate loss. The position will report to the Senior Director of Commercial Credit.
What You'll Do
- Workouts: Develop and execute timely workout action plans and effective follow up plans. Direct legal actions, bankruptcy, foreclosure, judgment processes, and repossession actions according to Bank policy and SBA SOP. Manage partnership with third party legal and valuation agents for specialized services
- Portfolio Review: Conduct periodic credit review on problem loans in the portfolio, assign risk ratings & coordinate independent loan review by external auditors
- File Documentation and Maintenance: Maintains all loan monitoring, loan servicing, repurchase guaranty and litigation documents. Support regulatory exams
- Partner with the loss forecasting team to provide quantitative & qualitative input to the process for allowance for credit loss (CECL)
- Collaborate with the team for timely and accurate completion of all Credit Committee, Board and regulatory reporting from a credit risk perspective; ensure rich actionable credit insight
- Formulate and actively maintain credit policy practices and standard operating procedure manuals, ensuring consistency with bank guidelines and regulations
- Provide independent review & credible challenge of credit extension proposals in the Small Business Lending segment
- Collaborate with cross-functional partners in the development of, and delivery against annual operating and strategic plans
About You
- 5 years of work experience in workouts and liquidations, with emphasis in Small Business Administration (SBA) lending programs
- Bachelor's degree in a quantitative discipline (finance, economics); or equivalent work experience
- Knowledge of SBA SOP; SBA 7-Tab Repurchase Package, 10-Tab Guaranteed Package, and SBA Wrap Up Report
- Thorough knowledge of bankruptcy, workout, UCC, litigation, foreclosure of personal and real property and disposition of collateral
- Line of business functional practitioner with domain knowledge in commercial lending, sound credit judgment, keen understanding of financial statements
- Effective collaborator, negotiator, and team player with a versatile interpersonal style
- Effective verbal and written communication skills
- Strong analytical and problem-solving skills
San Francisco or Lehi
We are currently working a hybrid schedule and our teams are in-office Tuesdays, Wednesdays, and Thursdays.
Time Zone Requirements
Primarily PT
Primarily MT
Travel Requirements
If you need to travel for work, LendingClub will cover your travel related expenses.
Compensation
The target base salary range for this position is 80,000-120,000. The position is also eligible to receive a bonus (which is based on company performance, employee performance and eligible earnings), equity, and benefits. Our salary ranges, other compensation and benefits offered are determined by role, experience level and location.
We’re creating new financial services solutions for our members based on fairness, simplicity, and heart, and we treat our employees the same way. We offer a competitive benefits package that includes medical, dental and vision plans for employees and their families, 401(k) match, health and wellness programs, flexible time off policies for salaried employees, up to 16 weeks paid parental leave and more.
LendingClub is an equal opportunity employer and dedicated to diversity, equity, and inclusion in the workplace. We do not discriminate on the basis of race, religion, color, national origin, sex (including pregnancy, childbirth, reproductive health decisions, or related medical conditions), gender, gender identity, gender expression, sexual orientation, age, marital status, veteran status, disability status, political views or activity, or other applicable legally protected characteristics. We believe that a variety of perspectives will make our teams and business stronger as we work together to transform the traditional banking system.
We are committed to providing reasonable accommodations for qualified individuals with disabilities in our job application process. If you need assistance or an accommodation due to a disability, please contact us at interviewaccommodations@lendingclub.com.
Salary : $80,000 - $120,000
