Collateral Analyst - Remote

Job Description

First American Bank was founded in Chicago, and over the years has expanded throughout Wisconsin and Florida. As the largest privately held bank in Illinois, we now have over 60 locations and assets of $5+ billion. We are a community bank at heart with international expertise, traditional values, and a forward-looking philosophy. Our employees have the experience and vision to meet the needs of savers, borrowers, and businesses in the 21st century. First American Bank can offer employees a level of visibility, career growth, and stability that is difficult to find in many larger corporations.

The Collateral Analyst is an hourly non-exempt role primarily responsible for assessing the eligibility and integrity of collateral information submitted by our asset-based loan clients, ensuring accuracy in the calculation of collateral values and loan availability. This role includes reconciling collateral and loan activity, work up of ineligible collateral and daily client contact related to loan advances, collections and eligible collateral.

DUTIES & RESPONSIBILITIES:

• Process borrowing base certificates (BBC) timely and accurately using collateral tracking software (Cync).

• Reconcile activity on borrowing base certificates to system balances. Notify supervisors of any issues identified.

• Process and analyze loan advance requests ensuring accuracy and verifying availability.

• Apply and reconcile daily collections (ACH, wires, deposits) ensuring clients' control accounts and loans are in balance.

• Review and correct any activity transfer exceptions on daily basis.

• Process month-end receivable and payable agings and inventory reports. Verify the accuracy of ineligible calculations and reconcile to BBCs submitted by clients. Reconcile availability on BBCs to Cync. Identify any differences and provide necessary explanation to the relationship manager as necessary. Advise clients of new ineligible number.

• Verify credit insurance coverage limits for clients when insurance is required.

• Set up new and maintain existing clients in the Cync system and Microsoft Access database.

• Interpret multifaceted loan agreements to ensure parameters such as advance rates, loan limits, types of ineligibles, maturity dates, insurance requirements, etc. are entered correctly.

• Generate trend analysis and month-end management reports for distribution to senior management.

• Perform other duties as assigned by management.

QUALIFICATIONS:

• Bachelor's or Associate degree with emphasis in accounting or finance preferred. Equivalent experience may be substituted for degree.

• Experience with asset based lending software (e.g. Cync, Stucky, ABLSoft) and working with loan documents to understand loan terms as defined is a definite plus.

• Detail oriented with strong analytical and problem-solving skills.

• Self-motivated team player with a high level of initiative, accountability, and adaptability.

• Ability to work independently and as well as collaborate in a team environment.

• Ability to meet deadlines and manage expectations.

• Ability to multitask effectively.

• Work with internal associates, clients and vendors to ensure accurate and timely response to client issues.

• Effectively communicates necessary information and requirements to clients in a way that can be easily understood.

• Must be professional, comfortable speaking with external and internal contacts with a demonstrated ability to tailor the message appropriately to the audience and situation effectively.

• Demonstrated ability to convey thoughts and ideas effectively and succinctly via written formats, including emails, letters, and electronic platforms. Maintain professional standards relating to spelling and grammar.

• Proficiency with Microsoft 365 products and applications, including the ability to effectively prepare or review documents, procedures, and reports.

• Demonstrated ability to learn new systems and applications, as well as the ability to understand, adapt and adjust responsibilities/workflows as a result of system upgrades.

• This position may require periodic travel to attend in person meetings and satisfy office obligations/responsibilities.

• Typical hours 7:30 a.m. to 4:30 p.m. Monday through Friday (Central Standard Time). Additional hours may be required depending on business need.

• Punctuality is required to maintain First American Bank's customer service standards.

Responsibilities First American Bank was founded in Chicago, and over the years has expanded throughout Wisconsin and Florida. As the largest privately held bank in Illinois, we now have over 60 locations and assets of $5+ billion. We are a community bank at heart with international expertise, traditional values, and a forward-looking philosophy. Our employees have the experience and vision to meet the needs of savers, borrowers, and businesses in the 21st century. First American Bank can offer employees a level of visibility, career growth, and stability that is difficult to find in many larger corporations. The Collateral Analyst is an hourly non-exempt role primarily responsible for assessing the eligibility and integrity of collateral information submitted by our asset-based loan clients, ensuring accuracy in the calculation of collateral values and loan availability. This role includes reconciling collateral and loan activity, work up of ineligible collateral and daily client contact related to loan advances, collections and eligible collateral. DUTIES & RESPONSIBILITIES:

• Process borrowing base certificates (BBC) timely and accurately using collateral tracking software (Cync).

• Reconcile activity on borrowing base certificates to system balances. Notify supervisors of any issues identified.

• Process and analyze loan advance requests ensuring accuracy and verifying availability.

• Apply and reconcile daily collections (ACH, wires, deposits) ensuring clients' control accounts and loans are in balance.

• Review and correct any activity transfer exceptions on daily basis.

• Process month-end receivable and payable agings and inventory reports. Verify the accuracy of ineligible calculations and reconcile to BBCs submitted by clients. Reconcile availability on BBCs to Cync. Identify any differences and provide necessary explanation to the relationship manager as necessary. Advise clients of new ineligible number.

• Verify credit insurance coverage limits for clients when insurance is required.

• Set up new and maintain existing clients in the Cync system and Microsoft Access database.

• Interpret multifaceted loan agreements to ensure parameters such as advance rates, loan limits, types of ineligibles, maturity dates, insurance requirements, etc. are entered correctly.

• Generate trend analysis and month-end management reports for distribution to senior management.

• Perform other duties as assigned by management. QUALIFICATIONS: - Bachelor's or Associate degree with emphasis in accounting or finance preferred. Equivalent experience may be substituted for degree.

• Experience with asset based lending software (e.g. Cync, Stucky, ABLSoft) and working with loan documents to understand loan terms as defined is a definite plus.

• Detail oriented with strong analytical and problem-solving skills.

• Self-motivated team player with a high level of initiative, accountability, and adaptability.

• Ability to work independently and as well as collaborate in a team environment.

• Ability to meet deadlines and manage expectations.

• Ability to multitask effectively.

• Work with internal associates, clients and vendors to ensure accurate and timely response to client issues.

• Effectively communicates necessary information and requirements to clients in a way that can be easily understood.

• Must be professional, comfortable speaking with external and internal contacts with a demonstrated ability to tailor the message appropriately to the audience and situation effectively.

• Demonstrated ability to convey thoughts and ideas effectively and succinctly via written formats, including emails, letters, and electronic platforms. Maintain professional standards relating to spelling and grammar.

• Proficiency with Microsoft 365 products and applications, including the ability to effectively prepare or review documents, procedures, and reports.

• Demonstrated ability to learn new systems and applications, as well as the ability to understand, adapt and adjust responsibilities/workflows as a result of system upgrades.

• This position may require periodic travel to attend in person meetings and satisfy office obligations/responsibilities.

• Typical hours 7:30 a.m. to 4:30 p.m. Monday through Friday (Central Standard Time). Additional hours may be required depending on business need.

• Punctuality is required to maintain First American Bank's customer service standards.