Collateral Management Supervisor

OceanFirst Bank; Toms River (NJ); On-site; USD 90,000 - 120,000; Full time

Benefits offered by this job

On-site fitness facility at Red Bank &

Tuition assistance

Incentive compensation program

Employee perks & discount programs

Professional development opportunities

Job summary

OceanFirst Bank is seeking a Collateral Management Supervisor in New Jersey to lead the collateral management team and ensure compliance with bank policies and regulatory requirements.

You will oversee daily activities including releases, escrow processing, and data integrity, while coaching staff and driving performance metrics in a banking environment.

Qualifications

• Experience leading a collateral management team or similar operations.
• Strong understanding of bank policies, procedures and SOX requirements.
• Proficient with MS Office and related tools for document workflow.

Responsibilities

• Supervise collateral management staff to ensure regulatory compliance and data integrity.
• Oversee collateral releases, UCC continuation, taxes and insurance payments.
• Conduct annual escrow analyses for accuracy and regulatory compliance.
• Review vendor reports and reconciliations to maintain accurate collateral data.
• Monitor KPI to improve efficiency and performance within the department.
• Support system conversions and cross-functional projects as needed.
• Provide coaching, training and performance reviews to staff.
• Ensure staff coverage and cross-training across collateral, tax and insurance functions.
• Maintain knowledge of core banking and related systems used by collateral management.

Skills

Leadership

Attention to detail

MS Office proficiency

Verbal & written communication

Team management

Regulatory compliance

Tools

Core banking system

Loan origination systems

Vendor/third-party systems

Job description

At OceanFirst Bank, each one of our employees plays an important role in delivering value to our customers and executing daily tasks in accordance with our core values. We recognize that our employees are essential to our success, making OceanFirst a great place to work and do business.

Great benefits include: on-site fitness facility at Red Bank and Toms River headquarter offices, employee perks & discount programs, tuition assistance, incentive compensation program, professional development opportunities, and more!

About Your Role

The Collateral Management Supervisor oversees the daily activities performed by the collateral management team, ensuring that processes are executed in accordance with bank policies, procedures, and regulatory requirements. This role maintains high standards of data integrity, operational accuracy, compliance, and customer service, while providing leadership, coaching, and ongoing development to staff.

What You Will Do

• Supervises activities of the collateral management staff to ensure that the various functions of the department are handled in compliance with applicable regulations, policies and procedures.
• Oversees the timely and accurate processing of collateral releases and UCC continuation process.
• Oversees the timely payment and processing of escrowed taxes and insurance premiums.
• Conducts and reviews annual escrow account analyses for accuracy and regulatory compliance.
• Reviews vendor tracking reports and reconciliations to core system to ensure collateral data is accurately tracked and exceptions noted are resolved.
• Assists in identifying, tracking, and monitoring KPI (Key Performance Indicators) to ensure efficiency within department.
• Assists in reviews and updates of SOX requirements, policies and procedures, and efficiency initiatives.
• Reviews and monitors the accuracy and completeness of collateral, tax, insurance and escrow data maintained on the core system and data records tracked by third-party vendors used by collateral management team.
• Reviews and approves daily department reconciliations.
• Oversees compliance with bank policies and procedures for custody and safekeeping of the loan collateral files.
• Participate in system conversions, acquisition/merger activities, and departmental projects as directed.
• Keeps current knowledge of all related systems including but not limited to the core banking system, third-party vendor systems, and loan origination systems used by the Collateral Management team.
• Provide coaching, training, guidance, and performance reviews to support staff development and proficiency in all operational tasks.
• Ensure staffing coverage and cross training within collateral, tax, and insurance functions.
• Works directly with staff, internal and external customers to research inquiries of various complexities while bringing situations to a successful and timely resolution.
• Shares in responsibility of performing daily collateral management operational tasks when needed.
• Ensures compliance with all regulations governing the banking industry, as well as agency guidelines and organization policies.
• Understands the compliance requirements for Loan Operations to ensure files are maintained in accordance with regulations.

What We Expect Of You

• Must be reliable, dependable, and maintain a high degree of flexibility with work schedule.
• Strong attention to detail skills required.
• Strong verbal and written communication skills.
• Ability to maintain a high degree of organization within a high-volume document workflow area.
• Strong interpersonal skills, including ability to effectively communicate with internal and external customers.
• Proficient with MS Office Suite.
• Working knowledge of loan servicing, including collateral management regulations regarding loan servicing
• Ability to manage and lead a team.