Collateral Operations Associate

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GENERAL FUNCTION: The Collateral Operations Associate is responsible for the review, analysis and completion of all due diligence associated with the bank’s interest in all consumer, commercial and business banking non-equity loans.  The loan collateral types include titled collateral such as Motor vehicles, Motorcycles, Motorhomes, Recreational Off-road Vehicles, Watercrafts, Tractor Trailers, Farm Equipment, Construction Equipment, and non-titled collateral such as Trusts, Brokerages, Savings and Certificate of Deposits secured loans.  Activities include the approval of conditions prior to the preparation of a loan’s title and collateral documentation. Monitoring the Bank’s UCC and Title vendors to ensure transactions are processed timely, accurately and within regulatory compliances. Working collaboratively with LOB teams to ensure the bank’s interest is secured. Providing dealership support for delinquent lien filings, title corrections, change of collateral and substitution of collateral. 

Responsible and accountable for risk by openly exchanging ideas and opinions, elevating concerns, and personally following policies and procedures as defined. Accountable for always doing the right thing for customers and colleagues and ensures that actions and behaviors drive a positive customer experience. While operating within the Bank's risk appetite, achieves results by consistently identifying, assessing, managing, monitoring, and reporting risks of all types.

ESSENTIAL DUTIES AND RESPONSIBILITIES:

• Commercial collateral recording and lien disposition.

• Advanced level volume audit reviews for CFPB and Borrower in Custody Fed collateral reviews.

• Internal and external customer facing and communication relative to consumer and commercial collateral lien placement, release of lien, underperforming assets at auction, vendor performance and final title disposition.

• Advanced Knowledge of third-party vendor systems where collateral is held outside the bank.

• Multiple step collateral verification reviews.

• Engage and complete loan servicing activities such as vehicle title corrections, title maintenance processing, ensure termination of bank’s interest upon payoff.

• Collateral Vendor servicing and reporting; lienholder discrepancies and name discrepancies.

• Supports LOB titling functions.

• Expert data collection specifically used to facilitate title Maintenance on vehicle collateral title changes.

• Initiate applicable collateral system changes based on internal and external research, customer, vendor or state requirement communication.

• Communicate and work directly with management and vendors to resolve any identified risk issues because of state requirement changes and internal business partner process adjustments.

• Advanced system report generation, reporting and analysis.

• Vendor collateral tracking system reviews and data integrality adjustments.

• Quality assurance on any of the following tasks for consumer, commercial and business banking titled, UCC and cash collateral.

• Perform and review lien filing activities such as Uniform Commercial Code (UCC) filings, vehicle titling lien filing, United States Coast Guard documented vessels and preferred Ship mortgage filing.  

• Carryout lien verification actives such as lien placement and accuracy.

• Execute lien servicing activities such as vehicle title corrections, lien and UCC continuations, ensure termination of bank’s interest upon payoff, repossession titling for past due collateral.

• Demonstrate knowledge of state specific title laws and requirements for perfecting liens.

• Engage with management on the execution of scheduled Collateral Vendor Management performance reviews and reporting creation.

• Perform root cause research and resolve complex loan level inquires and exception items received through inbound calls, fax, emails, tasks, correspondence, reports, and/or special projects.

• Research and respond to escalated customer issues.

• Research and respond to internal inquiries for prompt customer resolution.

• Adhere to compliance and government regulatory requirements.

• Monitors and authorizes release of Savings, Certificate of Deposit, Brokerage and Trust Secured Loans.

• Complex loan servicing requests, such as substitution of collateral and collateral corrections.  Determining collateral adequacy assessment of the new collateral to verify substitution or corrected collateral is sufficient.