Collateral Initiatives and Support Specialist

Team Overview

Collateral Initiatives and Support is a functional team within Collateral Risk Management. Responsibilities include managing the Bank’s ability to perfect security interest in collateral pledged through the Bank’s agreements and UCC filings and manage collateral custody of loans in possession onsite and with Bank engaged third‑party custodians. The team also responds to member requests to pledge new types of collateral.

Works to perform the day‑to‑day operational support of the collateral vault that includes safekeeping, review, analysis, management and organization of a wide scope of collateral documentation and other Bank‑wide documents secured in the vault. File, amend, search, or review UCC Financing Statements in a timely manner. Performs Large Loan Collateral (CRE) Reviews.

• Assist with vault management:
  Ensure the proper safekeeping of documents and files physically held in the Bank’s vault which includes accounting for all delivered mortgage collateral files containing promissory notes, trust certificates, documentation and/or agreements for third‑party custodian and servicers, etc.
• Work with team to perform vault activities including monitoring documentation movement, updating inventory, etc. Ensure timely response to release of collateral files back to members.
• Perform annual vault reconciliation.
• Review mortgage documentation:
  Process, review and reconcile all mortgage collateral documentation submissions (i.e., residential, multifamily, and commercial) to ensure compliance with procedures and assess eligibility as collateral. Communicate eligibility status to member for each collateral file.
• Create inventory of all documentation exceptions cited during loan review for each member. Notify members with exceptions cited during loan review, help members to resolve exceptions, and work towards a timely resolution. Ensure eligibility status for members is properly recorded and barcoded in the collateral system.
• Perform vault inspections:
  Occasional travel to perform vault inspections of member and/or custodian locations as required. Perform operational review visits to custodial sites to confirm eligibility of their facility and services for third‑party custody providers. Perform site verification when members collateral category are changed.
• Responsible for risk‑management related activities through maintaining the Bank’s vault, securing bank’s security interest via UCC processes and physical inventory of member loan files and loan instruments, facilitate collateral category changes, assisting with incoming member requests for third‑party pledging, and other Collateral Initiatives and Support functions as documented in standard operating procedures.
• Assist with Large Loan Collateral Reviews:
  Conduct loan reviews for large CRE and Multifamily mortgages by performing re‑underwriting, financial analysis, and review prospective pledge for compliance with Bank’s collateral requirements. Prepare written recommendation regarding whether to accept proposed mortgage for pledging.
• Complete Uniform Commercial Code (UCC) Processes:
  Ensure timely completion of all UCC activities for new and existing members as outlined in Bank standards and procedures. This includes filing the appropriate U.S. state and territories’ UCC Financing Statements, ordering UCC searches, executing UCC‑3 amendments including timely continuations, name and address amendments.
• Work with all parties on third‑party (pledgors, custodians, servicers, and Bank‑engaged custodians) pledge requests:
  Review proposals of new third‑party pledges, outside servicers and custodians, and newly submitted mortgage collateral delivered to the vault. Support member third‑party pledging by coordinating with legal department and collateral management any contract changes. Ensure that all third‑party custodians and servicers have collateral rights agreements executed. Manage the relationship between the Bank and third‑party custodians and coordinate pledge process within Collateral Risk.
  
  Perform annual on‑site audits of Bank‑engaged third‑party custodians.
• Provide support for legal agreements, document…