Collateral and Contract Specialist

at Live Oak Bank • Washington, D.C.

(View all jobs)

Share this position:

Share

POSITION Summary:

This is an Associate Vice President (AVP) position on Live Oak Bank’s Government Contracting team. Responsibilities are based in the Credit administration function and include strong ongoing integration with Underwriting, Closing, and Monitoring functions for various loan products, including mobilization notes, lines of credit, and SBA loans to federal government contractors.

This position requires expertise in the federal government contracting process. The role requires performing quality assurance of the assets—federal government contracts—of prospective Government Contracting borrowers throughout the loan lifecycle process. This includes understanding how different contract vehicles are structured, performed and paid out by the federal government. The Director is responsible for understanding the payment schedules, milestones, deliverables and risks of each contract and working with the Underwriting, Closing, and Monitoring functions on the ongoing disbursement of funds for mobilization loans and lines of credit related to those contracts. May request specified information for loan application and ongoing line of credit disbursements.  Responsible for assembling and validating information related to a borrower’s government contracts, required by Live Oak and counsel to properly close loans and execute ongoing line of credit disbursements.  Supports customer relationships through friendly, courteous and responsive service.  Develops keen understanding of commercial lending and SBA Program rules and procedures. Promotes Bank's services to current and potential customers.

 

Candidates must have expertise in the federal government contracting process and with federal government contracting vehicles. This includes having knowledge of and experience in the following:

  • Deep and rich understanding of the Federal Acquisition Regulation (FAR), and one or more supplemental regulations (e.g. DFAR, GSAR, etc.)
  • Wide range of Federal contracting laws, regulations, policies, procedures, methods, techniques, and contract types applicable to pre-award and post-award actions for a variety of complex contracts for unique services, commodities, and/or construction.
  • Designing Requests for Proposal (RFPs), Requests for Qualification (RFQs), Requests for Information (RFIs) and/or any other type of contract vehicle;
  • Leading or participating in negotiations with federal contractors related to payment, project scope, deliverables and milestones;
  • Being the direct point of contact for the general public related to a solicitation;
  • Being the direct point of contact for a contractor on a contracting vehicle; and
  • Making decisions related to a federal solicitation that impacts the federal government, the government contractor and the American taxpayer.

In addition, candidates must have experience with:

  • Navigating vast body of knowledge related to Federal acquisition, including all applicable statutes, regulations, policies, procedures, and best practices
  • Financial analysis and decision-making
  • Working with Contracting Officer Representatives (COR) and program offices to develop requirements and evaluate offers

ESSENTIAL FUNCTIONS:

  1. Evaluates the sources of repayment—federal government contracts—on loan requests and participates as needed in disbursement requests.
  2. Analysis and validation of applicants' contract backlog, leveraging all publicly-available sources (FPDS, USASpending, etc.)
  3. Work with closing legal counsel to develop automated Assignments of Claims process to streamline the generation, issuance, tracking, and documentation of Assignments of Claims.
  4. Track and manage all outstanding Assignments of Claims, pursuant to the Assignments of Claims Act, in order to perfect the bank’s security interests in the assets (contracts).
  5. Support the establishment and validation of anticipated payment schedules, project milestones and unique risks based on federal government contracts (and their related information) and works with underwriting, closing, and monitoring functions to disburse lines of credit.
  6. Apply existing expertise in the federal government contracting process to support the underwriting of loans and subsequent disbursement of funds to government contractors, particularly lines of credit.
  7. Works with GovCon team members and other divisions to build and refine ongoing GovCon processes, systems and procedures.
  8. Work with contracting officers (COs), contracting officer technical representatives (COTRs) and other federal contract employees as needed related to the understanding of contracts and execution of deals, as well as supporting the execution of Assignments of Claims.
  9. Support the ongoing monitoring and quality assurance functions of borrowers and their contract portfolios by performing ongoing monitoring and analysis of contracts, as well as supporting the onboarding of new contracts.
  10. Provide supportive analysis and contract-centric data in the preparation of Quarterly Business Reviews (QBRs).
  11. Has a basic understanding of bank policies and procedures as well as SBA standards and SOPs.
  12. Makes an assessment of the customer and resolves outstanding questions related to the transaction.
  13. Develops expertise in use of Bank loan systems. Ensures that all necessary documents required for the credit approval of the loan transaction are validated, accurate, and loaded to Sales Force.
  14. After the loan is approved, issues the commitment letter and tracks until it is returned signed and accepted.
  15. Helps ensure a smooth transfer of the customer to the Loan Closing Specialist for the closing and funding of the loan.
  16. Keeps abreast of economic conditions, changes and trends in customers' businesses, the Federal acquisition and banking industries, and the specific market niches targeted by the bank.

ADDITIONAL RESPONSIBILITIES:

  1. 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.
  2. Functions as a team and realizes all members of the team are vital to its success.
  3. Assists in training of other team members.
  4. Performs other duties as required.

SKILLS:

  • Expertise in federal government contracting and its processes from both the government side.
  • Fluency of the Federal Acquisition Regulation (FAR), including knowledge of and ability to navigate and reference FAR clauses, statutes, regulations, and other related artifacts in the contracting body of knowledge.
  • Excellent customer service and interpersonal skills.
  • Intermediate to advanced command of Microsoft Office, including Excel, Word, and Outlook.
  • Sound judgment.
  • Detail oriented and high level of ownership in lending process.
  • PC proficiency.
  • In-depth knowledge of Bank lending policies, procedures and criteria.
  • SQL or other database programming knowledge is preferred.

Education:

  • A bachelor's degree from an accredited educational institution authorized to grant baccalaureate degrees AND at least 24 hours in business-related courses in any of the following fields: accounting, business, finance, law, contracts, purchasing, economics, industrial management, marketing, quantitative methods, or organization and management
  • Federal Acquisition Certification in Contracting (FAC-C) Level 1 is required. Level 2 or 3 is preferred. Defense Acquisition Workforce Improvement Act (DAWIA) equivalent is acceptable.
  • An advanced degree is preferred.

EXPERIENCE:

  • Has worked in the federal government having designed and meaningfully participated in the contracting process, including developing contracts and making trade-offs related to the use of legal vehicles pertaining to those contracts.
  • At least two (2) years as an employee in the GS-1102 (GS-9/equivalent or higher) as a job series or as a member of the Armed Forces in a similar occupation specialty.
  • Must have experience and strong knowledge of FAR Parts 15 (Contract by Negotiation), 12 (Commercial Items), 8 (Required Sources of Supplies and Services), and 19 (Small Business Programs).
  • Experience with financial management and decision-making.
  • SBA credit training related to SBA lending programs (504, 7(a), etc.) is preferred.

PHYSICAL DEMANDS/WORK ENVIRONMENT REQUIREMENTS:

  • Vision, hearing, speech, movements requiring the use of wrists, hands and/or fingers
  • Able to sit, stand, stoop and bend
  • The ability to work the days and hours required to fulfill the essential functions of the position
  • The ability to work long hours and to multitask