Sr. Operations Collateral Specialist

Canadian Imperial Bank of Commerce•Chicago, IL

5d•$70,000 - $85,000•Hybrid

About The Position

We’re building a relationship-oriented bank for the modern world. We need talented, passionate professionals who are dedicated to doing what’s right for our clients. At CIBC, we embrace your strengths and your ambitions, so you are empowered at work. Our team members have what they need to make a meaningful impact and are truly valued for who they are and what they contribute. To learn more about CIBC, please visit CIBC.com What You'll Be Doing: The Senior Operations Collateral Specialist is responsible for monitoring and servicing a portfolio of clients while ensuring the successful delivery of a high standard of service while upholding compliance to internal controls and procedures within their functional responsibilities as assigned by the team.

Requirements

Minimum 5+ years’ Banking/Financial experience.
Demonstrate strong analytical skills with a focus on accuracy and details
Strong knowledge/experience with borrower base certificates, secured loans, A/R aging’s, sales journals, credit memo journals, cash receipt journals, and inventory reports
Strong problem solving and decision-making ability
Strong influencing skills sufficient to resolve issues
Working knowledge of operational and credit risk policies and procedures
Strong organizational and administration skills required
Strong people management and relationship building skills
Strong team-player
General knowledge of the financial industry
Strong PC skills (Power point, Excel, Word, Outlook, Access) with the ability to learn new systems
Knowledge of proprietary systems
Experience with ABL Collateral Monitoring System
Working knowledge of CIBC operations sufficient to apply and adapt standard practices and policies
Well-developed presentation/interactive skills sufficient to present both factual and conceptual information/ideas

Responsibilities

Provide monitoring and administration of the Asset Based Lending (“ABL”) portfolio and provide superior service to the clients.
Monitor and input borrowing base certificates into the ABL collateral monitoring system.
Validate and reconcile the borrowing base certificates to the supporting documentation provided by clients (A/R aging’s, sales journals, credit memo journals, inventory reports) and to the ABL collateral monitoring system.
Identify collateral trends, discrepancies, collateral risks and escalate these findings to the ABL Operations Manager and Relationship Manager to help resolve issues promptly.
Track borrowing availability, ensure the accuracy of borrowing base certificate and the ABL collateral monitoring system calculations including but not limited to ineligibles, advance rates, credit line limits, loan payments and loan advances.
Provide superior service to clients to assist with reporting questions and/or issues and past due reporting.
Process loan advance requests, loan payments, and interest rate contracts after necessary approvals have been obtained.
Follow established policies and procedures to maintain accurate records of loan advances, borrowing bases and supporting documentation, and approvals.
Ensure that privacy and security of information policies are being met, and identifies and makes recommendations to improve the team’s productivity, processes, tools and services.
At CIBC we enable the work environment most optimal for you to thrive in your role. Details on your work arrangement (proportion of on-site and remote work) will be discussed at the time of your interview.

Benefits

At CIBC, we offer a competitive total rewards package.
This role has an expected salary range of $70,000 - $85,000 for the market based on experience, qualifications, and location of the position.
The successful candidate may be eligible to participate in the relevant business unit’s incentive compensation plan, which may also include a discretionary bonus component.
CIBC offers a full range of benefits and programs to meet our employee’s needs; including Medical, Dental, Vision, Health Savings Account, Life Insurance, Disability, and Other Insurance Plans, Paid Time Off (including Sick Leave, Parental Leave and Vacation), Holidays and 401(k), in addition to other special perks reserved for our team members.
At CIBC, your goals are a priority.
We start with your strengths and ambitions as an employee and strive to create opportunities to tap into your potential.
We aspire to give you a career, rather than just a paycheck.
We work to recognize you in meaningful, personalized ways including a competitive salary, incentive pay, banking benefits, a benefits program, a vacation offering, wellbeing support, and MomentMakers, our social, points-based recognition program.
Our spaces and technological toolkit will make it simple to bring together great minds to create innovative solutions that make a difference for our clients.
We cultivate a culture where you can express your ambition through initiatives like Purpose Day; a paid day off dedicated for you to use to invest in your growth and development.