Asset Based Lending Loan & Collateral Analyst

Salem Five Bank•Salem, MA

23h•Onsite

About The Position

Salem Five is a growing regional financial services organization with a rich history of over 170 years. As an independent bank, we are deeply rooted in the communities we serve and offer our employees successful and rewarding careers. This position requires the ability to work in the Salem, MA office. Salem Five has more than 30 retail banking branches throughout Essex, Middlesex, Norfolk and Suffolk counties, strong business banking capabilities, an Insurance division, a Wealth Management & Trust organization and a Mortgage Company that has provided homeownership to generations of families. Salem Five believes deeply in supporting the communities in which we reside. Donations through our Charitable Foundation or events at the branch or location-level are an important part of our DNA. We would not be the company we are without our commitment to businesses and organizations that help the region thrive and to our employees. Come see what we’re all about.

Requirements

Bachelor’s degree from an accredited four-year college or university required; preference for Accounting or Finance major.
1-2 years’ experience in a commercial financial services firm/ banking organization with emphasis on analysis and borrower servicing; or equivalent combination of education and experience.
Working knowledge of wire transfer processes and applicable regulatory requirements, including BSA, AML, and OFAC.

Nice To Haves

Formal credit training is a plus but not required.

Responsibilities

Develop expertise through comprehensive training in the Bank’s collateral monitoring system (ABLSoft), including reviewing loan advance requests and changes to borrowing base collateral components and availability.
Execute daily loan processing activities within ABLSoft, including recording and processing loan advances, payments, payoffs, new loan set-ups, participation settlements, and borrower system onboarding.
Interface effectively with the core banking system (Fiserv DNA) and partner closely with internal teams including Loan Servicing, Wire Services, Loan Administration, Accounting, Relationship Managers, and Portfolio Managers.
Responsible for daily reconciliations between DNA and ABLSoft, and monitoring automated sweeps from respective borrowers to the loan system timely and collateral reductions.
Prepare and maintain the Daily Activity Report (“DAR”) and execute end-of-day reconciliation procedures to ensure accuracy of loan balances and availability across all systems including ABLSoft, DAR, and DNA.
Conduct daily, weekly, and monthly collateral analysis of accounts receivable aging, inventory, equipment, and other collateral assets pledged on Borrowing Base Certificates. Serve as the primary reviewer of all Borrowing Base Certificates, ensuring accurate and timely posting of collateral data (inventory, accounts receivable, etc.) into the ABLSoft system.
Calculate and apply accounts receivable and inventory ineligibles, analyze variances, and reconcile borrower-prepared BBCs to ABLSoft results. Compare ABLSoft results to borrower’s BBC and make revisions after necessary review and approval and informing Borrower(s) in a clear, professional manner.
Responsible for set up and/or modifying all ABL commercial loans on ABLSoft and Daily Activity Report. This entails ability to read and interpret loan agreements or modifications and to establish payment schedules and data on loan systems to ensure accurate reflection of loan arrangements with customers. This includes understanding structuring, amortization, interest-only periods, and holdbacks.
Train new borrowers on effective use of ABLSoft in correlation with the ABL Credit Facility, such as funding requests and obtaining reports.
Proactively communicate with borrowers to ensure timely receipt of all required information and documents related to borrowing base and collateral reporting, including AR/AP Agings, Inventory Reports, and other related collateral documents as required.
Responsible for servicing borrower requests and monitoring daily aspects of the borrower’s conduct and reporting changes in the borrower’s personnel, reporting or behavior. This includes communicating with clients to follow-up on business performance or reporting discrepancies.
Assist with month-end fees & interest reconciliation and notification procedures.
Maintain files of ABL department, which may include uploading ABL client related documents to the bank’s document retention system as required.
Demonstrates compliance with banking business laws and regulations as defined in company policies and procedures pertinent to the position.
Regular attendance is essential to this position.
Perform additional duties as required.