Collateral Management Specialist

Job Description

Job Description

Who We Are

At Old Second, you're first! For more than 150 years, Old Second has consistently put businesses and individuals throughout the Chicago area first, and we're only getting started.

With great employees we've grown from a single location in the back of a general store to 50 locations and over $6 billion dollars in assets. At Old Second we embrace values that foster an environment of community and growth. Recently, we've been voted a Forbes Best-In-State Bank for Illinois by our customers. Be a part of something big as we continue our growth story together!

Move your career forward at Old Second.

Position Overview

The Collateral Management Specialist is responsible for the creation of loan/collateral files, uploading applicable documentation into the Bank's imaging system and follow up on post-closing related items, which includes obtaining liens on vehicle titles, recorded mortgages, final title policies, insurance follow-up, UCC portfolio management. In addition, processing collateral releases in accordance with the paid loan process, preparing payoff letters and document retention.

Essential Job Functions

• Indexes and scans loan documents into system.
• Maintains organized physical files and records.
• Insurance monitoring and tracking for insurance expirations.
• Obtains the bank's lien on vehicle titles.
• Monitors the UCC portfolio for pending expirations as well as resolves any exception related items encountered with filing exceptions.
• Prepares Payoff Letters in accordance with Bank procedures and regulations.
• Processes incoming Service Requests related to the Collateral Management Team.
• Records Mortgages, as needed, for the Consumer/Residential Department.
• Generates releases of collateral on paid loans in accordance with regulation and the paid loan process.
• Provides release/paid documents to 3rd party mortgage servicing vendor.
• Organizes and releases customer purchased tax certificates and floor plan titles.
• Assists with document collection for loan support projects and audits.
• Provide responses to Subpoena or Summons requests for loan documentation.
• Responsible for complying with all Bank policies and Federal and State banking laws and regulations.

Minimum Requirements

• High School diploma or equivalent and one or more years' experience in consumer or commercial documentation, or related; or equivalent combination of education and experience.

Competencies

• Knowledge of consumer and commercial compliance regulations.
• Proficient with Microsoft Office (Excel, Word and Outlook).
• Detail oriented with excellent organizational, analytical, and problem-solving skills.
• Must be able to multi-task in a fast-paced environment.
• Exceptional verbal and written communication skills.
• Proven ability to work both independently and as a team member.

Preferences

• Bachelor's degree a plus
• Jack Henry, CT Lien, and Loan Vantage experience a plus.

Location Details

This position requires the incumbent to work onsite on a daily basis to perform the regular responsibilities of the role.

Compensation & Benefits

Base pay: $20.50 - $26.65/hour

Old Second is committed to fair and equitable pay practices. Pay is dependent upon the pay range and the incumbent's knowledge, skills and experience.

Benefits: How We Support You - Old Second

Thanks for considering Old Second!