Payoff​/Collateral Specialist

WHAT IS THE OPPORTUNITY?

This position is responsible for reviewing notes and related loan documents to be able to accurately represent terms in payoff statements and demand letters and real estate reconveyance at loan payoff. Also reviewing all collateral items to ensure adherence to established Bank and department policies. Responsibilities include reviewing, investigating and clearing items on the collateral exception reports, ensuring proper control and maintenance of collateral entries to the loan collateral system, investigating and researching unresolved collateral discrepancies and processing paid loan paperwork for units assigned.

Investigating and clearing items on the paid collateral exception reports.

This position is responsible for reviewing notes and related loan documents to be able to accurately represent terms in payoff statements and demand letters and real estate reconveyance at loan payoff. Also reviewing all collateral items to ensure adherence to established Bank and department policies. Responsibilities include reviewing, investigating and clearing items on the collateral exception reports, ensuring proper control and maintenance of collateral entries to the loan collateral system, investigating and researching unresolved collateral discrepancies and processing paid loan paperwork for units assigned.

Investigating and clearing items on the paid collateral exception reports.

• Reviews loan note and related loan documents prepares payoff statements and demands for title and escrow companies as well as borrower.
• Interprets terms of notes relating to prepayment penalties and accurately calculates and represents same in payoff statements.
• Releases collateral upon satisfaction of debt or receipt of appropriate levels of loan authority. Prepares and submits reconveyance documents for filing within regulation time period.
• Researches and follows up on exception items relating to paid loans. Ensures that lenders and various related departments are notified of pending items and follows up to clear up exceptions.
• Ensures proper control and maintenance of collateral files as required by Bank policy to facilitate examination by Bank Auditors, National Bank Examiners and Loan Review personnel.
• Investigates and researches unresolved collateral discrepancies. Consulting with department supervisors and manager to resolve problems or errors relating to collateral such as improper securities provided as collateral, incomplete collateral provided, etc. May contact other departments such as Securities Custody, New Accounts, etc. to resolve pending problems or errors.
• Processes paid loans, reviews files, forwards appropriate documents to borrower as paid and archives the file.
• Maintains a proactive commitment to established bank programs, such as Community Reinvestment Act (CRA) and Affiantive Action.
• Complies fully with all Bank Operational and Credit policies and procedures as well as all regulatory requirements (e.g. Bank Secrecy Act, Know Your Client, Community Reinvestment Act, Fair Lending Practices, Code of Conduct, etc.).

• Minimum of two years working with all types of collateral on commercial loans
• Minimum of two years working with commercial loan documentation
• Minimum of two years of experience in identifying and handling brokerage account statements with stocks, cash and bonds held as collateral

• Knowledge of commercial loan documentation required.
• Experience in identifying and handling brokerage account statements with stocks, cash and bonds held as collateral as required.
• Knowledge of Depositary Transfer Company operations helpful.
• Working knowledge of Microsoft Word/Excel would be required.
• Ability to interact effectively with all levels of Bank personnel, departments and customers.
• Proficient P.C. skills.
• Excellent verbal/written communication skills required.

Starting base salary: $20.28 - $30.42 per hour. Exact compensation may vary based on skills, experience, and location. This job is eligible for bonus and/or commissions.

• Comprehensive healthcare coverage, including Medical, Dental and Vision plans, available the first of the month following start date
• Generous 401(k) company matching contribution
• Career Development through Tuition Reimbursement and other internal upskilling and training resources
• Valued Time Away benefits including vacation, sick and volunteer time
• Specialized health and family planning benefits including fertility benefits, and cancer, diabetes and musculoskeletal support programs
• Career Mobility support from a dedicated recruitment team
• Colleague Resource Groups to support networking and community engagement

Get a more detailed look at our Benefits and Perks.

Since day one we've always gone further than the competition to help our clients, colleagues and communities flourish. City National Bank was founded in 1954 by…