SBA Operations Manager

POSITION SUMMARY

Administers the portfolio management of Small Business Administration (SBA) loan portfolios being serviced by Ultum Group to ensure the development, retention, and compliance of high-quality portfolios. Recommends, creates, and administers the processes, procedures, and technology that supports the servicing, liquidation, and portfolio/program management of all SBA loan portfolios. Responsible for providing advice and guidance to all individuals involved in the origination, servicing, and liquidation of all Small Business Administration program loans originated and serviced by Ultum Group. Manages the activities and processes, procedures, and personnel in the SBA Servicing and SBA Closing/Processing areas. This position is hybrid, working mostly remote, but must have the ability to be onsite in Sartell, MN occasionally. Candidate must reside in MN, ND or WI.

ESSENTIAL DUTIES AND RESPONSIBILITIES

• Responsible for answering questions, communicating status updates and program/documentation requirements to Commercial Banking Officers, SBA staff, and members on the origination, servicing, and liquidation of Small Business Administration (SBA) loan products.

• Participates in the business development process for Ultum Group, attending sales meetings, including providing follow-up information requested by potential clients.

• Responsible for payment remittance and 1502 reporting process for all clients.

• Provides final review of SBA post close credit memos prior to delivery to client for Ultum Group.

• Responsible for communication with borrower and SBA along with submission of all required forms in workout and liquidation scenarios.

• Responsible for review and oversight of monthly SBA reporting.

• Responsible for facilitating secondary market sales of guaranteed portion of SBA 7(a) loans.

• Responsible for SBA compliance and successfully managing all servicing and liquidation actions on all loan portfolios being serviced by Ultum Group.

• Ensures compliance and provides oversight on new and existing policies and procedures. Formulates and recommends policy and procedure changes as they relate to SBA origination, servicing, and liquidation compliance. Works with other department management to recommend policies and procedures which may have an organization-wide effect.

• Responsible for communicating and explaining changes of the SBA Standard Operating Procedures to internal staff and clients of Ultum Group and ensures compliance with all SBA regulatory changes.

• Advises the Credit Analysts with servicing and liquidation eligibility and underwriting requirements of the SBA programs.

• Responsible for answering questions, communicating status updates and program/documentation requirements to staff and members in the origination of Small Business Administration (SBA) loan products.

• Assists the Document Prep department staff with SBA specific loan document creation through a third-party vendor.

• Advises SBA staff with review of SBA documentation received, program eligibility, and file documentation requirements on the servicing and liquidation of loans.

• Recommends, implements, and trains processes and procedures for SBA Loan origination, servicing, and liquidation to staff in accordance with regulation and best practice.

• Advises Loan Operations with post-closing, servicing, reporting, and system maintenance in relation to SBA loans.

• Manages the SBA’s software platform including the maintenance, upgrades, and customization. Collaborates with functional and technical staff and vendors to coordinate application upgrades and fixes.

• Serves as the servicing and liquidation contact for government programs including correspondence with SBA’s district offices, national servicing centers, and trade associations related to SBA lending.

• Supports the strategic planning process through tactical departmental planning.

• Selects, oversees, develops, trains, and manages (directly and indirectly) the performance and compensation of the SBA Servicing and Processing staff. Assigns, directs, and coordinates the work of employees. Approves hiring decisions for the department, and delivers performance reviews and compensation recommendations for staff. Provides input on other HR related issues. Responsible for both individual and department results that are achieved through the successful management of staff. Maintains responsibility for adequate staffing.

• Provides input to yearly budgeting and monthly rolling forecast for the SBA department to create alignment with Magnifi Financial and Ultum Group strategies and objectives.

• Works in collaboration with Magnifi Financial management and staff to meet the goals and objectives of Magnifi and Ultum Group. Ensures cooperation amongst cross-functional areas.

• Proactively conducts training with commercial/SBA lending and support staff as well as Ultum clients on SBA loan servicing and liquidation to ensure the team has an understanding and are kept up to date on policy or procedural changes of SBA.

• Actively participates in community relations efforts to contribute to the mission and visibility of Ultum Group and Magnifi Financial. Projects a positive image in the field of membership and with current and prospective members.

EDUCATION AND EXPERIENCE

• Bachelor’s degree in a business-related field plus six years’ experience in commercial lending including construction and government guaranteed lending and two years progressively responsible supervisor/management experience; or equivalent knowledge and skills gained through a minimum of eight years related work experience.

Salary Range: $98,446 - $147,669

Salaries vary based on factors such as location, internal equity, skills, experience, education, and qualifications for the role.

Total compensation package varies based on position and may include bonuses, performance-based incentives, commission, and/or discretionary bonuses.

The Benefits

We are committed to investing in our team! Magnifi Financial offers benefits that help everyone achieve their full potential. Full-time employees are eligible for the following benefits (benefits with an asterisk are also available to eligible part-time positions):

• Opportunities for Training and Development *
• Leadership Development *
• Job Level Advancement (ability to move up in your position through training and development) *
• Tuition Reimbursement *
• 32 Hours Volunteer Paid Time Off *
• Paid Time Off – Begins accruing upon date of hire for a total of 4 weeks per year for FT; prorated for PT *
• Medical
• Dental
• Vision
• Employer paid Life Insurance/AD&D
• Employer paid Disability Insurance
• Retirement Plan - Employer match up to 4%, eligible for annual profit sharing *
• Paid Parental Leave
• Bonus/Incentive Program
• Employee Engagement/Health and Wellness Programs *

Who We Are:

At Magnifi Financial, we offer a collaborative, friendly environment where we support our employee's growth and development, and create a positive work atmosphere. As a member-owned organization, we are focused on making dreams come true for our members. Our vision is enhancing the lives of members and community through strength, service and growth. Magnifi Financial has grown to more than 85,000 members, $2.4 billion in assets, over 400 employees, and over 25 branch locations throughout Minnesota. But what hasn’t changed is our focus on the members and communities we serve.

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities

The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor’s legal duty to furnish information. 41 CFR 60-1.35(c)