What are the responsibilities and job description for the Loan Operations Collateral Monitoring Specialist position at Career Opportunities?
Loan Operations Collateral Monitoring Specialist
Job Function: Provide general support to Lending staff and Collateral Monitoring staff by imaging and reviewing loan files, perfect collateral, processing paid loan debt by releasing collateral in a protective and timely manner. Responsible for managing collateral vault of safekeeping items. Process ticklers such as Certificates of Good Standing, Paid Tax receipts, UCC Post Filing Searches and UCC Continuations. Monitor and process Paid Taxes and Insurance managed in escrow accounts.
Essential Duties and Responsibilities:
- Perfect Collateral with State and county offices
- Pull daily paid note reports and maintain tracking spreadsheet
- Prepare collateral release forms, coordinate with loan assistant(s) and lender(s) to obtain signed release authorization
- Prepare and process a wide variety of release documents including paper instruments and on line processing
- Process and monitor payment of release fees for various vendors
- Update exception items on IBS Tickler system
- Pull and purge paper loan files for imaging
- Pull and process paid promissory notes and collateral
- Communication with outside insurance vendor
- Analyze insurance coverage for proper collateral protection
- Process all insurance remittance to the digital imaging system
- Monitor any reporting or notices associated with insurance expirations or cancellations
- Review, analyze and distribute annual escrow statements
- Other tasks as assigned from time to time can include serving as backup to other Collateral Monitoring duties
Job Qualifications/Required Skills and Abilities:
- Associate’s Degree in Business, Finance, or related field, or equivalent experience
- 1 years prior experience in a financial institution lending department, preferred
- Superior verbal and written communications skills
- Exhibit and maintain high degree of professionalism
- Maintain high degree of confidentiality and integrity
- Ability to communicate effectively and professionally at all levels of the organization
- Excellent follow through and time managements skills
- Strong attention to details
- Excellent organizational skills
- Must exhibit good business acumen
- Ability to multi-task and problems-solve
- Proficient with PC, web and Microsoft Office applications
- Must possess a can do customer-service attitude/philosophy
