Collateral Management Specialist

Position Overview

This position is responsible for the creation of loan/collateral files, uploading applicable documentation into the Bank’s imaging system and follow up on post-closing related items, which includes obtaining liens on vehicle titles, recorded mortgages, final title policies, insurance follow-up, UCC portfolio management.  In addition, processing collateral releases in accordance with the paid loan process, preparing payoff letters and document retention.

Essential Job Functions

• Indexes and scans loan documents into OnBase storage system.
• Maintains organized physical files and records.
• Insurance monitoring and tracking for insurance expirations.
• Obtains the banks lien on vehicle titles, either physical or ELT.
• Monitors the UCC portfolio for pending expirations as well as resolves any exception related items encountered with filing exceptions.
• Prepares Payoff Letters in accordance with Bank Procedures and Regulations.
• Processes incoming Service Requests related to the Collateral Management Team.
• Records Mortgages, as needed, for the Consumer/Residential Department.
• Generates releases of collateral on paid loans in accordance with regulation and the paid loan process.
• Provides release/paid documents to 3rd party mortgage servicing vendor.
• Organizes and releases customer purchased tax certificates and floor plan titles.
• Assists with document collection for loan support projects and audits.
• Provide responses to Subpoena or Summons requests for loan documentation.
• Responsible for complying with all Bank policies and Federal and State banking laws and regulations.  

Minimum Requirements

• High School diploma or equivalent and one or more years’ experience in consumer or commercial documentation, or related; or equivalent combination of education and experience.

Strongly Preferred: 

• Collateral experience
• Experience in vehicle titling

Competencies

• Knowledge of consumer and commercial compliance regulations.
• Proficient with Microsoft Office (Excel, Word and Outlook).
• Detail oriented with excellent organizational, analytical and problem-solving skills.
• Must be able to multi-task in a fast-paced environment.
• Possess excellent communication (written and verbal).
• Ability to effectively and accurately communicate with all levels within the organization.
• Proven ability to work both independently and as a team member.

Preferences

• Bachelor’s degree a plus
• Jack Henry, CT Lien, Loan Vantage and OnBase experience a plus.

NOTE:  This job description is not intended to be all-inclusive.  Employee may perform other duties as assigned to meet the ongoing needs of the organization.

Location Details: Aurora Main - River Street

This position is considered a hybrid role.  With management approval, an incumbent may work a combination of remote and onsite work to perform the regular responsibilities of the role.  Actual schedule requirements may vary based upon business needs.

Compensation & Benefits

Base pay:  $20.10 -$25.12 per hour

Old Second is committed to fair and equitable pay practices.  Pay is dependent upon the pay range and the incumbent’s knowledge, skills and experience. 

Benefits:  How We Support You - Old Second