Collateral Specialist Jobs

About The Position

Requirements

• Bachelor's degree in business or a related field, or 2–3 years of related experience.
• Computer and communication skills appropriate for a typical office environment.
• Ability to use office equipment.

Responsibilities

• Follow up on outstanding collateral to ensure proper filing.
• Prepare and file mortgage releases from weekly collateral release reports; research and prepare requested mortgage releases, subordinations, and partial releases.
• Complete monthly reconciliation of the Mortgage Release Fee general ledger.
• Process incoming hazard and flood insurance policies.
• Document and communicate insurance cancellation and renewal issues with customers and lenders to help maintain appropriate coverage.
• Arrange force-placed insurance when necessary and process monthly reconciliations, refunds, and renewals.
• Ensure proper lien filing for vehicles and deposit accounts held as loan collateral.
• Process weekly vehicle-title and deposit-account release reports and special release requests.
• Review UCC filings for loans secured by commercial and agricultural security agreements and work to resolve incorrect filings or lien-placement issues.
• Follow up monthly on UCC continuations and amendments.
• Process escrow holdback agreements and disbursement items, follow up with lenders regarding fees, and process customer distributions.
• Process incoming loan payoff requests.
• Answer questions and provide backup support to the Assistant Collateral Specialist, Flood Insurance Specialist, Title Work Administrator, and Loan Servicing Specialists.
• Assist with filing and other Loan Servicing Department duties and projects as needed.
• Assist in supporting other bank activities when requested.
• Help develop manuals and supporting documentation for tasks and duties associated with the position.

Benefits

• A comprehensive and competitive benefits package.