Director of Special Assets, Specialty

About Us

Live Oak Bank is a digital bank that serves small business owners across the country. Our groundbreaking spin on service and technology has fueled our mission to be America's Small Business Bank.

Our products help customers buy, build, and expand their business, and our high-yield savings and CD products help them grow their hard-earned money.

At Live Oak, we never lose sight of the well-being of our people. We believe our employees are the heart of our company.

Our commitment to our customers and culture is intertwined, and we seek those who embody and embrace what it takes to empower the American dream.

How This Role Impacts Live Oak and its People

The Director of Special Assets, Specialty will lead the Specialty Special Assets division. They will develop and implement policies and procedures for effective portfolio management and serve as a subject matter expert on Conventional and government-guaranteed loan workouts and restructuring.

What You'll Do at Live Oak

• Responsible for strategy development, risk management, and performance monitoring
• Oversee implementation of workout strategies of large bank exposures in excess of $10MM for Specialty credits
• Provide guidance, training, and support to ensure effective portfolio management and achievement of department goals
• Collaborate with senior management to develop strategies for mitigating credit risk and improving asset quality
• Stay current on industry trends, regulatory requirements, and best practices related to special assets management
• Independently manage a small portfolio of troubled loans, including conducting complex financial analysis and risk assessments
• Monitor loan performance and compliance with loan agreements
• Liaise with internal stakeholders, including Credit, Legal Counsel, Loan Servicing, Loan Syndications, and Lending teams to ensure effective management and oversight of troubled loan portfolio
• Ensure servicing actions are in compliance with participation agreements
• Prepare a formal Watch List Report for presentation to Bank Management and Board on a quarterly basis
• Review accuracy and engage in the approval of quarterly watch list and impairment reviews
• Oversee timely recommendation of loan risk grade changes, classifications, and charge-offs

How You'll Do It

• Excellent customer service and interpersonal skills, proven negotiation, and problem-solving abilities
• Sound judgment, detail-oriented. Strong financial analysis skills
• Proficiency in Microsoft Office suite, nCino, and loan servicing software
• In-depth knowledge of Bank and SBA lending policies, procedures, and criteria
• Must have the ability to travel extensively
• Must have a valid driver's license
• Perform other duties as required
• Has responsibility for following regulatory requirements including those pertaining to the Bank Secrecy Act (BSA), Anti-Money Laundering (AML), Customer Identification Program (CIP), and OFAC to assist in the identification, detection, and determent of money laundering or other unlawful activities.

Required and Preferred Experience

• Bachelor's degree in Finance or Business; MBA or professional certification preferred
• Experience in commercial lending, servicing, or underwriting
• 7+ Years of Lending / workout / banking experience preferred
• Comprehensive knowledge of banking regulations and Bank policies and procedures
• Proven track record of successfully resolving complex credit issues and maximizing recovery
• Prior management experience preferred

To Thrive at Live Oak

• Gravitate to Growth - Shows adaptability and support for changes to improve organizational effectiveness.
• Communicate and Collaborate - Communicates clearly and thoughtfully, demonstrating empathy in teamwork.
• Eye of the Tiger - Gets positive results by taking personal responsibility for actions and team outcomes.
• Know Your Business - Curates and maintains a depth of knowledge and skill to perform one's job effectively.
• Customer at the Center - Provides customers with a personalized experience to achieve exceptional outcomes.

For a detailed overview of our employee benefits please visit : http : / / www.liveoakbank.com / careers /

At Live Oak Bank, we are passionately focused on creating an inclusive and genuine environment! We encourage you to apply for roles that you believe you'd be a great fit for, even if you feel your past experience does not perfectly match every requirement.

As we continue to grow, our People Team will match the skillsets of current and prior applicants with open roles within our organization.

As we say at Live Oak, "Paint the Target!" and go after your goals!"

The base pay range for this position is $140,000.00 - $200,000.00 per year. Compensation may also include annual bonuses and long-term incentives, subject to various metrics and company policy.

A candidate's salary is determined by several factors including travel, relevant work experience or skills and expertise.

Please note that we provide at least the minimum requirement of paid sick leave to our employees who reside in states that require employer-paid sick leave, including but not limited to Arizona, California, Colorado, District of Columbia, Maine, Maryland, Massachusetts, Michigan, Nevada, New Jersey, New Mexico, New York, Oregon, Rhode Island, Vermont, and Washington.