Commercial Collateral Analyst II

Comerica Bank; Farmington (MN); Hybrid; USD 50,000 - 70,000; Full time

Job summary

Comerica Bank is seeking a Commercial Collateral Analyst II to support the safeguarding and monitoring of collateral for its lending portfolio. This role involves maintaining accurate loan files, ensuring compliance, and collaborating with stakeholders to mitigate risks. The ideal candidate will have commercial loan experience and strong customer service skills.

Benefits

Health benefits

Retirement plan

Paid time off

Qualifications

• 2 years of commercial loan experience.
• 1 year experience with PC systems.
• 2 years of customer service experience.

Responsibilities

• Ensure accurate creation and safekeeping of files for over 121,000 loans.
• Maintain accuracy of collateral data in the AFS system.
• Ensure compliance with insurance and tax requirements.

Skills

Customer Service

Loan Accounting

Data Management

Education

High School Diploma or GED

Tools

Microsoft Word

Job description

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Position Overview

The Collateral Services Analyst II is responsible for executing all primary functions supporting the safeguarding, monitoring, and reporting of the bank's collateral pledged to support the Business Bank and Wealth Management Lending portfolio. This role is critical to maintaining a sound lien position in assets securing the Bank's commercial loan portfolio and mitigating risks associated with security interests across all Comerica loan groups and lines of business.

Key Responsibilities

1. Document and File Safekeeping: Ensure accurate creation, maintenance, and safekeeping of files for over 121,000 loans, validate documentation packages, utilize Omnifile System for tracking, and secure original documents in designated vaults.
2. Collateral Maintenance: Maintain accuracy of collateral data in the AFS system, update collateral values and percentages, and research complex issues.
3. Collateral Monitoring: Ensure compliance with insurance and tax requirements, collaborate with stakeholders, and respond to inquiries regarding pledged collateral.
4. Quality Review and Risk Management: Review loan documentation, ensure system flags are updated, and validate tax and collateral data monthly.

Qualifications

• High School Diploma or GED
• 2 years of commercial loan experience
• 2 years of customer service experience
• 1 year experience with PC systems, loan accounting, and Microsoft Word

Work Environment

Category B - 3-4 days in office, 1-2 days remote. Hours: 8:00 am - 5:00 pm, Monday to Friday.

Additional Information

Salary is based on experience. Comerica offers comprehensive benefits including health, retirement, paid time off, and more. Background checks and certifications may be required.

About Comerica

Comerica is a financial services company headquartered in Dallas, Texas, with operations across several states and internationally. We are committed to diversity and equal opportunity employment.