Collateral Management Supervisor

ofbexternal; Toms River (NJ); On-site; USD 53,000 - 71,000; Full time

Benefits offered by this job

On-site fitness facility at Red Bank &

Employee perks & discount programs

Tuition assistance

Incentive compensation program

Professional development opportunities

Job summary

OceanFirst Bank is seeking a Collateral Management Supervisor to oversee daily collateral management activities, ensuring compliance with bank policies and regulatory requirements. You will lead and develop staff, monitor data integrity, and coordinate with internal and external stakeholders to resolve complex inquiries.

The role emphasizes leadership, coaching, and ensuring accurate collateral data across core and vendor systems, with opportunities to participate in system projects and process

Qualifications

• High school diploma or equivalent is required.
• Bachelor's degree or equivalent experience is required.

Responsibilities

• Supervises collateral management staff to ensure compliance with regulations and procedures.
• Oversees processing of collateral releases and UCC continuations.
• Oversees timely payment and processing of escrow taxes and insurance premiums.
• Conducts and reviews annual escrow analyses for accuracy and compliance.
• Reviews vendor tracking and reconciliations to ensure data accuracy.
• Monitors KPIs to ensure efficiency within the department.
• Reviews SOX requirements, policies, and efficiency initiatives.
• Oversees data accuracy in core system and with third-party vendors.
• Approves daily department reconciliations.
• Ensures custody and safekeeping of loan collateral files.
• Participates in system conversions and projects as directed.
• Keeps current knowledge of related banking systems.
• Provides coaching, training, and performance reviews.
• Ensures staffing coverage and cross training.
• Researches inquiries with internal/external customers to resolve issues.
• Shares in daily collateral management tasks when needed.
• Ensures compliance with banking regulations and agency guidelines.
• Understands compliance requirements for Loan Operations.

Education

High school diploma or equivalent

Bachelor's degree or equivalent experience

Tools

MS Office Suite

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
• more!

Apply today to #BecomeOceanFirst and make an impact in the local community!

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:

1. 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.
2. Oversees the timely and accurate processing of collateral releases and UCC continuation process.
3. Oversees the timely payment and processing of escrowed taxes and insurance premiums.
4. Conducts and reviews annual escrow account analyses for accuracy and regulatory compliance.
5. Reviews vendor tracking reports and reconciliations to core system to ensure collateral data is accurately tracked and exceptions noted are resolved.
6. Assists in identifying, tracking, and monitoring KPI (Key Performance Indicators) to ensure efficiency within department.
7. Assists in reviews and updates of SOX requirements, policies and procedures, and efficiency initiatives.
8. 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.
9. Reviews and approves daily department reconciliations.
10. Oversees compliance with bank policies and procedures for custody and safekeeping of the loan collateral files.
11. Participate in system conversions, acquisition/merger activities, and departmental projects as directed.
12. 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.
13. Provide coaching, training, guidance, and performance reviews to support staff development and proficiency in all operational tasks.
14. Ensure staffing coverage and cross training within collateral, tax, and insurance functions.
15. Works directly with staff, internal and external customers to research inquiries of various complexities while bringing situations to a successful and timely resolution.
16. Shares in responsibility of performing daily collateral management operational tasks when needed.
17. Ensures compliance with all regulations governing the banking industry, as well as agency guidelines and organization policies.
18. 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.

YOUR QUALIFICATIONS:

• High school diploma or equivalent. Bachelor's degree or equivalent experience required.
• Minimum of 5 years loan servicing experience, preferably in collateral management, taxes & insurance, or related field.
• Supervisory or team lead experience required.

INTERNAL AND EXTERNAL CONTACTS:

• Extensive external contact with third-party vendors, County Clerk and tax offices, customers, attorneys, and title companies.
• Internal customer service including but not limited to Commercial and Business Banking Lending Teams, Commercial Loan Closers and Assistants, Branch personnel, Senior Management, Audit, Compliance, Legal, IT, and Accounting.

WORKING CONDITIONS/PHYSICAL REQUIREMENTS:

• Office environment.
• Ability to operate a computer.
• Ability to communicate in order to exchange simple to complex information with individuals and groups.
• Ability to travel throughout Bank footprint.

Salary Range: $53,315.00 - $71,080.00