Commercial Equipment & Vehicle Finance Operations Associate

Commercial Equipment & Vehicle Finance Operations Associate

Country: United States of America

The primary function of the Commercial Equipment & Vehicle Finance role is loan/lease payments and maintenance for the defined lines of business, or executing related controls, utilizing the systems and processes defined by management. The incumbent handles researching of analytical components related to various loan/fee accruals, calculations as well as ongoing/ad-hoc reconciliation.

We are seeking a detail oriented CEVF Associate to join our accounting team. The ideal candidate will be responsible for managing and processing payments, ensuring accuracy and compliance with company policies and regulatory requirements.

Essential Functions/Responsibilities:

Processes and reviews incoming (check, wire, AAA, ACH, speed pay) payments/payoffs accurately and timely.

Reverses returned items and promptly creates non-sufficient funds fees.

Corrects accounts as needed due to mis postings by lockbox and or customer portal.

Adjusts accounts as requested before a restructuring or set up of an account on ACH can be done.

Processes unscheduled paydowns as requested and uploads to SharePoint.

Processes refund checks to the lessors/lessees or AAA clubs as requested and maintains a record in an excel sheet.

Processes monthly cash flow and sales tax checks timely to the lessors.

Processes write-downs on workout accounts and uploads to SharePoint or serves as a second reviewer.

Places an account into NPL, Non-saleable or update of status change / workout officer or serves as a second reviewer.

Places an account or an asset into inventory, reverses an account/asset from inventory.

Processes cash flow deductions and reserve deductions as requested.

Manually calculates and updates the new cash flow amount when an asset is paid off on a multiple assets account.

Maintains and reconciles payment records to ensure accuracy.  (Daily proof of payments and payoffs).

Monitors payment transactions to prevent fraud and ensure compliance with financial regulations.

Collaborates with internal teams to resolve payment issues and discrepancies.

Prepares and distributes various monthly reports to the lessors.

Stays updated on industry trends and regulatory changes related to payments.

Researches and responds to incoming commercial loan requests received from business areas supported by the department.

Researches loan balances, payment history, rejected Lockbox checks, incoming ACH, incoming wire transfer payments associated with incoming payments

Ensures proper documentation is filed/saved appropriately and is available for internal and external audits.

Identifies and resolves problems within established guidelines.

Participates in Bank projects as needed, (UAT testing, testing before the system upgrade, testing for a new procedure).

Participates in procedure review and updates (on demand and annual).

Participates and supports in getting all the evidence requested for Internal and external audit (Control, RCSA, SOX, PWC).

Qualifications:

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Education:

Bachelor's Degree or equivalent work experience in Business or equivalent degree.
 

Work Experience:

3-5 years of Operations and/or Client Service experience.
 

Skills and Abilities:
Requires excellent communication, good organizational skills, and attention to details.

Ability to adhere to policies, procedures, and instructions of management.

Ability to adapt quickly and be a team player.

Ability to manage multiple tasks/projects and deadlines simultaneously.

General Math skills.

Displays a can-do attitude and willingness to learn.

Sees through complexity and detail to get to the critical issues at hand

Working knowledge in Commercial Banking.

Ability to work in a fast-paced environment with little supervision.

Ability to wo