What are the responsibilities and job description for the Collateral Specialist position at Wintrust Financial Corporation?
Wintrust provides community and commercial banking, specialty finance and wealth management services through its 16 bank charters and nine non-bank businesses. Wintrust delivers the sophisticated solutions of a large bank while staying true to the relationship-focused, personalized service of our community banking roots. We serve clients in all 50 states with more than 200 branch banking locations in Illinois, southwestern Florida, northwestern Indiana, west Michigan and southern Wisconsin and commercial banking offices in Chicago, Denver, Milwaukee, Grand Rapids, Mich., and in key branch banking locations throughout Illinois. Our people are the heart of our business and we are proud to rank consistently as a top place to work. Wintrust is a $66 billion financial institution based in Rosemont, Illinois, and listed on the NASDAQ Global Select Market under the symbol “WTFC.”
Why join us?
Position Overview:
The Collateral Specialist is responsible for creating necessary exceptions for all new loans and renewals to ensure tracking of required documentation for collateral folders. Perfecting various types of collateral to ensure the Bank’s lien is properly recorded or stated on all collateral. Reviewing documentation packages for completeness and clear any related exceptions. Complete all tasks within the assigned SLAs.
Medical Insurance
The estimated salary range for this role is $42,000 - $55,000, along with eligibility to earn an annual bonus. Actual salaries may vary based on several factors, such as a candidate’s qualifications, skills, and experience.
From our first day in business, Wintrust has been proud to serve a variety of unique communities and people from all walks of life. To build a company that reflects the communities we serve, we believe that fostering a unique and inclusive workplace where everyone feels valued and empowered to succeed will support our ongoing success. Wintrust Financial Corporation, including community banking and financial services subsidiaries, is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, age, national origin, disability, veteran status, genetic information, and other legally protected categories.
Why join us?
- An award-winning culture! We are rated a Top Workplace by the Chicago Tribune (past 10 years) and Employee Recommended award by the Globe & Mail (past 6 years)
- Competitive pay and discretionary or incentive bonus eligible
- Comprehensive benefit package including medical, dental, vision, life, a 401k plan with a generous company match and tuition reimbursement to name a few
- Family-friendly work hours
- With 175 community bank locations, we offer opportunities to grow and develop in your career
- Promote from within culture
- We have a culture that encourages an entrepreneurial spirit
- We offer multiple opportunities for development and upward mobility
Position Overview:
The Collateral Specialist is responsible for creating necessary exceptions for all new loans and renewals to ensure tracking of required documentation for collateral folders. Perfecting various types of collateral to ensure the Bank’s lien is properly recorded or stated on all collateral. Reviewing documentation packages for completeness and clear any related exceptions. Complete all tasks within the assigned SLAs.
- Create exceptions for new loans and renewals to track for original documentation.
- Establish collateral lien perfection as needed (Mortgage Recording, UCC filing, Vehicle Title Liens, Deposit Holds, etc.).
- Review original loan packages for completeness and clear related exception items.
- Create collateral folders for new loans and file in the vault.
- Ensure all trailing documents are filed in their respective collateral folders.
- Research and review inquiries from the line of business regarding collateral.
- Assist with research requests, audit reviews, and department projects as needed.
- Minimum 3 years of experience in an office or operations environment which services and supports banking line of business.
- Highly organized and ability to complete a high volume of tasks within assigned service levels.
- IBS system experience preferred.
- Good written and oral communication skills and organizational skills.
- Good understanding of various loan documents, banking processing standards, best practices, and audit control procedures.
- Good understanding of consumer and commercial loans
- Must have experience in back-office loan processing commercial, residential and small business loans
- High School diploma or equivalent.
Medical Insurance
- Dental
- Vision
- Life insurance
- Accidental death and dismemberment
- Short-term and long-term Disability Insurance
- Parental Leave
- Employee Assistance Program (EAP)
- Traditional and Roth 401(k) with company match
- Flexible Spending Account (FSA)
- Employee Stock Purchase Plan at 5% discount
- Critical Illness Insurance
- Accident Insurance
- Transportation and Commuting Benefits
- Banking Benefits
- Pet Insurance
The estimated salary range for this role is $42,000 - $55,000, along with eligibility to earn an annual bonus. Actual salaries may vary based on several factors, such as a candidate’s qualifications, skills, and experience.
From our first day in business, Wintrust has been proud to serve a variety of unique communities and people from all walks of life. To build a company that reflects the communities we serve, we believe that fostering a unique and inclusive workplace where everyone feels valued and empowered to succeed will support our ongoing success. Wintrust Financial Corporation, including community banking and financial services subsidiaries, is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, age, national origin, disability, veteran status, genetic information, and other legally protected categories.
Salary : $42,000 - $55,000