Loan Operations Commercial Loans Collateral Specialist

Position: Loan Operations Commercial Loans Collateral Specialist

Grade: 10

Department: Loan Operations – Oak Brook Ops Center

Reports To: AVP – Loan Operations Collateral Services Group Lead

Lakeside Bank is seeking a detail-oriented and highly motivated Commercial Loan Collateral Services Specialist to join our Loan Operations team. The ideal candidate will be a self-starter who can work independently with limited supervision while maintaining a high degree of accuracy and professionalism. This position is responsible for protecting the Bank's collateral position by tracking and obtaining trailing collateral documentation, filing and monitoring UCC and mortgage liens, processing lien releases, maintaining collateral records, and ensuring the overall quality and integrity of the commercial loan portfolio.

The Specialist will work closely with lending, documentation, loan servicing, compliance, and audit teams to ensure proper lien perfection, regulatory compliance, and adherence to bank policies and procedures. The successful candidate will possess strong analytical and organizational skills, a commitment to accuracy, and a thorough understanding of commercial lending collateral requirements.

• Review boarded commercial loan packages and collateral documentation to ensure the Bank's security interest is properly perfected and in compliance with established policies and procedures.
• Audit loan files to verify proper lien position and identify missing or deficient collateral documentation.
• Order, prepare, file, and track UCC Financing Statements, continuations, amendments, terminations, mortgages, assignments, modifications, and other collateral-related documents through approved vendors and governmental agencies.
• Track and obtain trailing collateral documentation and maintain accurate collateral records.
• Ensure proper filing and recording of collateral documents for loans closed without title company involvement.
• Monitor lien expiration dates and take appropriate action to maintain perfected security interests.

• Maintain collateral exception reports and proactively work with lending and loan operations teams to obtain missing documentation and resolve outstanding exceptions.
• Perform periodic collateral reconciliations between loan systems, collateral records, and supporting documentation.
• Conduct file audits and research collateral discrepancies and system outages.
• Remain current on documentation requirements, lien perfection standards, and regulatory requirements to maintain portfolio quality and mitigate risk.

• Research commercial loan relationships to determine collateral securing paid loans and verify cross-collateralization requirements.
• Prepare full and partial payoff letters and calculate release requirements.
• Process paid loans and prepare collateral release packages, including mortgage releases, UCC terminations, and other satisfaction documents.
• Coordinate delivery of release documentation to customers, attorneys, title companies, and recording agencies.

• Monitor Asset-Based Lending (ABL) reporting requirements, including Borrowing Base Certificates and Accounts Receivable Aging reports.
• Track insurance coverage requirements, monitor insurance exceptions, and assist with force-place insurance processes when necessary.
• Monitor flood insurance requirements and related documentation.
• Assist with the monitoring of real estate tax payments and input tax information into third‑party tax service systems.
• Monitor Letters of Credit, expiration dates, and required amendments to ensure timely customer notification and processing.

• Prepare monthly, quarterly Loan Operations and collateral management reports.
• Assist with appraisal invoice processing and related general ledger balancing activities.
• Respond to internal inquiries and perform research to support timely customer service and issue resolution.
• Assist internal auditors, external auditors, and regulatory examiners by gathering…