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Position Overview
The Collateral Management Specialist 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 system.
- Maintains organized physical files and records.
- Insurance monitoring and tracking for insurance expirations.
- Obtains the bank's lien on vehicle titles.
- 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.
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.
- Exceptional verbal and written communication skills.
- Proven ability to work both independently and as a team member.
Preferences
- Bachelor's degree a plus
- Jack Henry, CT Lien, and Loan Vantage experience a plus.
Location Details
This position requires the incumbent to work onsite on a daily basis to perform the regular responsibilities of the role.
Compensation & Benefits
Base pay: $20.50 - $26.65/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.
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