Loan Specialist (Commercial)
Are you excited by the idea of helping to support $39 billion in small business financing and setting proper conditions to stimulate America's economic growth? SBA has been a leader in small business development for more than 60 years. In an increasingly globalized economy, we tackle challenges confronted by the small business community across geographic boundaries. Although times have changed since the SBA was founded in 1953, the Agency's mission-to promote the growth of small business-has not. Today, SBA is more vital than ever. We work in collaboration with partner organizations and using cutting-edge technologies and well-tested best practices to multiply our impact on small businesses.
America's 28 million small businesses are the engine of job creation and economic growth in this country, creating nearly two out of every three new jobs in the United States and employing over half the nation's workforce. SBA ensures that these businesses have the tools and resources required to start and expand their operations, and create jobs that support a growing economy and strengthen America's middle class.
The SBA and entrepreneurs drive American competitiveness and help grow the economy. Picture yourself at SBA.
This position is located in the Small Business Administration, Herndon National Guaranty Purchase Center in Herndon, Virginia. The incumbent is responsible, within the scope of their assigned authority, for reviewing, analyzing and recommending or taking action on cases that have been referred for liquidation. In addition, the incumbent is responsible for assisting and guiding less senior loan specialists and loan servicing assistants in the performance of their duties.
- Occasional Travel
- You may be expected to travel for this position.
SPECIALIZED EXPERIENCE: One year of specialized experience (equivalent to at least the GS-09 grade level in the Federal service) obtained in either the private or public sector that may include but are not limited to performing the following types of tasks: liquidate collateral and assets for all types of loans; provide financial counseling and guidance to customers related to loan payments; recommend various liquidation actions; analyze financial statements; review and recommend action as appropriate on participant lender's loan compromise.
SPECIALIZED EXPERIENCE: One year of specialized experience (equivalent to at least the GS-11 grade level in the Federal service) obtained in either the private or public sector that may include but are not limited to performing the following types of tasks: underwrite and determine cash flow and repayment ability for commercial and business loans; service and liquidate collateral and assets for all types of loans; provide extensive financial counseling and guidance to customers related to loan terms and payments; discuss general and specific case plans to ensure proper steps are taken to achieve liquidation; monitor and provide oversight to a variety of liquidation actions; review participant lender's final report and determine if loan will be charged-off; provide guidance to less senior loan specialists and loan servicing assistants in the performance of their duties.
Additional information on the qualification requirements is outlined in the OPM Qualifications Standards Handbook of General Schedule Positions. It is available for your review on OPM's Qualifications web site.
Experience refers to paid and unpaid experience, including volunteer work done through National Service programs (e.g. Peace Corps, AmeriCorps) and other organizations (e.g. professional; philanthropic; religious; spiritual; community, student, social). Volunteer work helps build critical competencies, knowledge, and skills and can provide valuable training and experience that translates directly to paid employment. You will receive credit for all qualifying experience, including volunteer experience.
All qualification requirements must be met by 11:59 pm (Eastern Time) on the closing date of this vacancy announcement.
If you do not meet the specialized experience requirements, you may also qualify with education. You MUST submit transcripts (official or unofficial) with this application if you wish to qualify based on education.
EDUCATION: A Ph.D or equivalent doctoral degree OR at least 3 full years of progressively higher level graduate education leading to such a degree in the following fields: finance, accounting, banking and credit or other related coursework; OR LL.M if related. (You MUST submit a copy of your transcript(s) if
you are basing all or part of your qualifications on education).
COMBINATION: An equivalent combination of the above education and experience. For example, six months of specialized experience (50% of the experience requirements) and 45 semester hours or 68 quarter hours of graduate education as described above (50% of the education requirement, in excess of the second year of graduate school). (You MUST submit a copy of your transcript(s) if you are basing all or part of your qualifications on education).
*There is no substitute for education at the GS-12 level.
APPLICANTS PLEASE NOTE: Education must be accredited by an accrediting institution recognized by the U.S. Department of Education in order for it to be credited towards qualifications (particularly positions with a positive education requirement.) Therefore, applicants must report only attendance and/or degrees from schools accredited by accrediting institutions recognized by the U.S. Department of Education. Verify School accreditation. All education claimed by applicants will be verified by the appointing agency accordingly. *** If you are using foreign education to meet qualification requirements, you must send a Certificate of Foreign Equivalency with your transcript in order to receive credit for that education. *** For further information, click on: Foreign Education.
SUITABILITY, CLEARANCE & REQUIREMENTS: A background investigation may be required for all new hires. Appointment will be subject to the applicant's successful completion of a background investigation and favorable adjudication. Failure to successfully meet these requirements will be grounds for termination.
CTAP/ICTAP APPLICANTS: If you are applying for a special selection priority under SBA's Career Transition Assistance Plan (open to surplus SBA employees only) or the Interagency Career Transition Assistance Program (open to surplus and displaced Federal employees), you must submit proof of eligibility. Information about CTAP and ICTAP eligibility is on OPM's Career Transition Resources website at: CTAP/ICTAP.
Duties include but are not limited to the following:
- Conduct a comprehensive guaranty purchase review of the participant lender's 7(a) loan making, closing, servicing and liquidation activities.
- Gather and review relevant facts and data to ensure maximum recovery to the Agency and mitigate harm and loss to the Agency.
- Oversee and monitor the participant lender's actions with regard to a variety of liquidation activities to include taking possession of, inventorying and protecting collateral; obtaining necessary appraisals; determining the method of disposal and determining when abandonment of collateral is in the best interest of the Agency.
- Review and recommend actions as appropriate on participant lender's loan compromise recommendations where settlement for less than the amount is due is in the best interest of the Agency.
- Review participant lender's assertion that they have exhausted all liquidation efforts and that the loan is ready to be charged off.