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Loan Operations Commercial Loans Collateral Specialist

Lakeside Bank

  • Oak Brook
  • 2 days ago

    Highlights

    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. 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.

    Numbers & Facts

    LocationOak Brook
    Websitehttps://www.lakesidebank.com/career-positions/

    Description

    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.
     
    Essential Duties and Responsibilities
    Collateral Management and Lien Perfection
    • 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.
    Exception Tracking and Portfolio Quality
    • 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.
    Loan Payoffs and Collateral Releases
    • 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.
    Asset Monitoring and Loan Administration Support
    • 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.
    Reporting, Compliance, and Audit Support
    • 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 requested documentation and providing research support.
    • Support the development, implementation, and maintenance of collateral management processes and procedures to ensure compliance with regulatory requirements and industry best practices.
    Additional Responsibilities
    • Participate in departmental projects, system implementations, and process improvement initiatives.
    • Cross-train within Loan Operations to provide operational support and business continuity.
    • Perform other duties and special projects as assigned.
    Qualifications:   Candidates for the position must possess a minimum of three years’ experience in Loan Operations/collateral services.  Working knowledge of commercial loan documentation, lien perfection requirements, UCC filings, mortgage recordings, and collateral release procedures preferred.  Strong understanding of commercial lending practices and collateral administration. Candidate should be detail oriented and possess strong computer skills including a comprehensive knowledge of Microsoft Excel. Team oriented, readily shares information with peers and managers; can teach others; willing to assist wherever needed; works toward team success and goals.  Ability to work independently and to prioritize multiple tasks and meet deadlines in a fast paced environment.   Lastly, candidates need to have excellent written and verbal communication skills, good figure aptitude and an excellent attendance record.
     
    Benefit Information  
    Lakeside Bank offers a wide variety of benefit programs for our employees. We offer three Blue Cross Blue Shield medical plans: two PPO plans and one HMO plan. Our PPO dental plans are offered through Principal. The Bank subsidizes a large percentage of the monthly premiums. We also offer vision insurance through Principal VSP. Employees are able to select from single coverage, employee and spouse coverage, employee and child(ren) coverage, or family coverage levels.
     
    The Bank provides Life/AD&D, short-term disability, and long-term disability insurance at no cost to the employee. We offer a variety of supplemental ancillary products, such as supplemental life insurance for employees, spouses, and/or children, accident insurance, critical illness insurance, hospital indemnity insurance, and pet insurance. Additional information on each plan can be provided upon request.
     
    Salary Information  
    This is a non-exempt position. Compensation will be based on background and level of experience. The compensation range is $47,840–$79,040 based on experience.
     
    Lakeside Bank Equal Employment Opportunity Policy:
    Lakeside Bank is an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability status, protected veteran status, or any other characteristic protected by law.
     
    Note: This job description is not intended to be all-inclusive. Employees may perform other related duties as assigned to meet the ongoing needs of the organization.

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