Secured Credit Officer I

## Secured Credit Officer IApplyremote type:
Hybrid locations:
Main Office:
North Shoretime type:
Full time posted on:
Posted Yesterday job requisition :
R-1534
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* Location:

** 800 Philadelphia Street Indiana, PA 15701or358 N Shore Drive  Pittsburgh, PA 15212
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* Hours:

** Monday - Friday: 8AM-5PM(Additional hours as necessary to meet the objectives of the department
** Function**:

Assumes responsibility for moderately complex activity of Formula Based Commercial Loan structuring, monitoring and operations, as well as Asset-Based Loan structuring, monitoring and operations. Ensures the timely processing of draw requests, monitors collateral positions, conditions, performance metrics and borrower trends.  Receives formula-based and asset-based collateral reporting and performs ongoing analysis to ensure proper collateral coverage. Monitors and reports to on a portfolio of formula-based and asset-based loans while providing exceptional customer service.  

Charged with preserving the bank’s collateral through the following of diligent processes and controls. Develops and maintains strong working relationships with commercial loan customers, bankers, and third-party consultants.
** Duties and Responsibilities****:
*** Reviews and analyzes borrowing base certificates, account receivable schedules, account payable schedules, inventory listings and other various collateral reports to ensure compliance with Formula Based and Asset Based  Line of Credit conditions.
* Communicates core system maintenance information to the Loan Systems Department for availability on Formula Based and Asset Based loans.
* Participates in loan structuring with account officers and helps prepare information for Commercial Loan underwriting including:
Collecting and analyzing collateral data, and recommending conditions for proper loan structure.
* Reviews and analyzes loan documentation to determine appropriate recommendations.
* Receives and responds to various customer questions, works to resolve issues and provides ongoing customer service in the administration of Formula Based and Asset Based loans.
* Ensures compliance with existing loan policies and procedures and assists in policy development and modification.
* Provides assistance regarding accounts to less experienced Secured Credit Administrators.
* Reviews borrowing base certificates and supporting schedules and approves loan requests for Formula Based loans and Asset Based loans.
* Participates in the initial loan closing and funding process and serves as the final approver before the wire transfer is processed.  Receives updated collateral information from the borrower including a Borrowing Base Certificate, AR Aging Schedule, AP Aging Schedule, and Inventory Listing.  Orders a field examination (audit) from a third-party CPA firm, and ensures findings and recommendations are consistent with the final Credit Memo approval.  

Verifies initial loan availability in accordance with formula parameters and the Business Loan Agreement.  Authorizes the wire transfer through the nCino credit workflow system.
* Orders inventory and Machinery & Equipment appraisals for Formula-Based loans, Asset-Based loans, and other C&I loans bank-wide. Responsible for soliciting quotes, selecting the appraisal firm and coordinating scheduling and the flow of information between the borrower and the appraisal firm. Reads and reviews appraisals and makes recommendations regarding eligible collateral, advance rates, and loan structure. Ensures the vendor is paid and the bank is reimbursed by the borrower.
* Works with the Wire Room Department to verify loan availability for outgoing wires of asset-based and formula-based loan customers. Reviews wire forms as a second layer of risk management to ensure beneficiaries of the wires are active vendors and payees.
* Performs various testing and validation to monitor for potential fraud including quarterly Cash Deposit Proof Tests on formula based and asset-based loan customers, reconciling accounts receivable and inventory figures to financial statements, and ensuring collateral reporting is timely, comprehensive and accurate. Reports any suspicion of fraud to Secured Credit Management, the banker and the Financial Intelligence Group, if necessary
* Identifies any out-of-formula loan positions and immediately notifies Secured Credit management, the commercial banker, and Regional Credit Officer.  Participates in joint phone calls, Teams meetings or on-site visits with the borrower to ascertain the reasons for the collateral shortfall.  Assists in developing an action plan for bringing the loan back into compliance.  Monitors the collateral position and reports regularly until the loan is in compliance.
* Develops proficiency and expertise in the Cync asset based loan system. Maintains a portfolio of formula bases and asset based loans on the system and is responsible for providing trend reports and collateral analysis to bankers, credit personnel and senior management.
* Contacts…