What are the responsibilities and job description for the Loan Collateral Specialist position at Alden State Bank?
Basic Qualifications
Education/Training: A high school diploma or equivalent.
Knowledge/Skill(s): Proficiency in office applications including excel, word and outlook. Detail oriented with a high level of flexibility and adaptability. Well organized and displays excellent time management skills. Ability to maintain high level of discretion and confidentiality.
Experience: Minimum one (1) year experience in loan funding or closing environment with general understanding of loan documentation and post-closing reviews preferred. Basic accounting skills preferred.
Work Schedule: This is an on-site position and does not currently offer work from home flexibility.
General Responsibilities
Responsible for securing and monitoring assets that are pledged as collateral to reduce the credit risk of financial transactions. The role provides guidance, documents procedures, and researches and corrects issues.
Essential Duties
Performs a variety of duties to support the loan operations function including:
- Accountable for providing high level of customer service to internal and external customers with operational integrity. This includes research and response in a timely, positive and professional manner.
- Ensure the safekeeping of original loan collateral documents in appropriate file storage area.
- Responsible for verifying all collateral documents are present and audits documents for originals vs. copies.
- Maintain compliant Insurance coverages for the life of the loan.
- Tracks and follows-up on collateral insurance for all loan applications; action force-placement of insurance if deemed necessary.
- Ensure data within the CORE system is current, accurate, and complete with status in Fiserv, or any other tracking system.
- Ensure filing of returned documents stays current and accurate.
- Identify potential issues or concerns and participate in a solution, including recommending and developing new policies and procedures.
- Perform quality control on documents to ensure compliance utilizing loan folder checklists.
- Scan and upload collateral documents to FISEV Director.
- Perform work accurately and within assigned deadlines.
- Follows all Bank policies and procedures, compliance regulations, and completes all required annual or job-specific training in a timely manner.
- Review system reports to proactively identify any issues with collateral filings.
- Cross train with other positions within the Loan Operations department.
- Will complete special projects as assigned.
- Abides by the current laws and organizational policies and procedures designed and implemented to promote an environment which is free of harassment and other forms of illegal discriminatory behavior in the work place.
- Cooperates with, participates in, and supports the adherence to all internal policies, procedures, and practices in support of risk management and overall safety and soundness and the Bank's compliance with all regulatory requirements, e.g. Community Reinvestment Act (CRA), Bank Secrecy Act (BSA), Equal Credit Opportunity Act, etc.
- Reports pertinent information to the immediate supervisor as requested, or according to an established schedule; compiles information as necessary or as directed and provides data to appropriate Bank personnel.
- Responds to inquiries relating to his/her particular area, or to requests from customers, other Bank personnel, etc., within given time frames and within established policy.
EQUAL EMPLOYMENT OPPORTUNITY POLICY STATEMENT
It is the policy of the Bank to provide equal employment opportunities to all employees and applicants for employment without regard to race, color, religion, sex, marital status, genetic predisposition or carrier status, national origin, age, physical or mental disability or status as a Vietnam-Era or special disabled veteran or any other legally protected status in accordance with applicable Federal and New York State laws unless a bona fide occupational qualification applies. This policy applies to all terms and conditions of employment, including, but not limited to, hiring, placement, promotion, termination, layoff, transfer, leaves of absence, compensation, benefits and training.
