Collateral Review Specialist

Carter-Bank; Martinsville (VA); On-site; USD 43,000 - 74,000; Full time

Benefits offered by this job

Medical insurance

Dental insurance

401(k) & PTO

Job summary

Carter Bank is seeking a Collateral Review Specialist to oversee the collateral review process for pledging loans to FHLB and FRB. You will ensure access to contingent funding and compliance with regulatory requirements.

The role involves reviewing originations, auditing loan files, monitoring collateral, and preparing QCRs and FRB certifications, while coordinating with lenders and compliance teams to resolve issues.

Qualifications

• High school diploma or equivalent required; Bachelor’s degree in business, finance, or related field preferred.
• Prior experience in loan operations, credit administration, or related banking function required.
• Experience submitting QCRs or managing a loan collateral pledge program preferred.

Responsibilities

• Review and evaluate loan originations for FHLB/FRB pledging eligibility.
• Audit files for promissory notes, security instruments, insurance, and title policies.
• Monitor pledged collateral for compliance with FHLB/FRB guidelines.

Skills

Loan documentation

Regulatory compliance

FHLB/FRB collateral

Excel

Core banking systems

Organizational skills

Time management

Analytical skills

Written communication

Education

High school diploma

Bachelor's degree preferred

Tools

Microsoft Excel

Document imaging systems

Core banking systems

Job description

SUMMARY:

The Collateral Review Specialist oversees the bank’s collateral review process for pledging loans to the Federal Home Loan Bank (FHLB) and the Federal Reserve Bank (FRB). This role is critical in ensuring our institution maintains access to contingent funding sources and complies with all regulatory and institutional guidelines.

ESSENTIAL JOB FUNCTIONS:

• Review and evaluate new loan originations to determine eligibility for FHLB and FRB pledging
• Conduct in-depth file audits to verify documentation such as promissory notes, security instruments, insurance, title policies, and legal descriptions
• Monitor pledged loan collateral to ensure it remains compliant with FHLB and FRB guidelines
• Prepare and submit accurate and timely Qualified Collateral Reports (QCRs) in accordance with FHLB schedules and requirements
• Prepare and submit accurate and timely monthly certifications in accordance with the FRB schedule and requirements
• Update coding in DNA system timely for pledging reviews on each individual loan file
• Track and reconcile pledged loan pools and outstanding collateral balances
• Coordinate with lenders, loan operations, and compliance teams to correct documentation deficiencies or update loan files
• Stay current with changes in FHLB and FRB collateral eligibility requirements and recommend process improvements as needed
• Support internal and external audits or reviews related to loan pledging
• Assist in stress testing and contingency funding planning efforts as it relates to pledged assets

JOB REQUIREMENTS:

• High school diploma or equivalent required, Bachelor’s degree in business, finance, or a related field preferred
• Prior experience in loan operations, credit administration, or a related banking function required
• Prior experience submitting QCRs or managing a loan collateral pledge program preferred

KNOWLEDGE/SKILLS REQUIRED:

• Intermediate working knowledge of loan documentation for consumer, commercial, and real estate-secured loans.
• Intermediate knowledge of regulatory requirements related to contingent funding and liquidity risk management
• Intermediate understanding of FHLB and Federal Reserve collateral eligibility requirements
• Intermediate proficiency with Microsoft Excel
• Intermediate proficiency with core banking and document imaging systems
• Intermediate organizational skills
• Intermediate time-management skills
• Intermediate analytical skills
• Intermediate written and verbal communication skills

PHYSICAL AND MENTAL QUALIFICATIONS:

• Standing, walking, bending and stooping required
• Must be able to sit at a desk for long periods of time and use a computer
• Must be able to occasionally move or lift up to 10 pounds
• May be asked to work supplemental hours periodically
• Limited travel required occasionally during and after business hours

Salary Pay Range: $42,647.76 - $74,195.42 annually

Benefits: Eligible associates may participate in Carter Bank's benefits package, including medical, dental, vision, life insurance, disability coverage, other voluntary benefits, 401(k), paid time off, and paid holidays.