Commercial Collateral Analyst II

Support.com; Farmington Hills (MI); On-site; USD 60,000 - 80,000; Full time

Job summary

A leading financial institution is seeking a Collateral Analyst II to safeguard and monitor collateral for its Business Bank and Wealth Management Lending portfolios. The role involves maintaining accurate collateral files, ensuring compliance with documentation policies, and mitigating risks associated with pledged assets. The ideal candidate will have a Bachelor's degree in Finance and strong analytical skills to support the bank's commercial loan portfolio effectively.

Qualifications

• Experience with loan documentation and collateral management.
• Proficient in data validation and risk assessment.
• Strong communication and collaboration skills.

Responsibilities

• Create and maintain accurate collateral files for over 121,000 loans.
• Validate and edit collateral data daily in the AFS system.
• Ensure borrowers maintain required insurance on pledged collateral.

Skills

Attention to Detail

Analytical Skills

Problem Solving

Education

Bachelor's Degree in Finance or related field

Job description

Collateral Analyst II

The Collateral Services Analyst II is responsible for executing key functions that support the safeguarding, monitoring, and reporting of the bank's collateral pledged to support the Business Bank and Wealth Management Lending portfolios. Effective execution of these responsibilities is essential to maintaining a sound lien position in assets securing the Bank's commercial loan portfolio and mitigating inherent risks associated with security interests across all Comerica loan groups and lines of business.

Position Responsibilities:

Document and File Safekeeping

• Create, maintain, and safeguard accurate files for over 121,000 loans booked in Comerica's Commercial accounting system (AFS), covering all three banking regions.
• Validate receipt of complete loan documentation packages.
• Use Omnifile (Content Tracker) System to track and locate collateral files.
• Secure and safeguard legal loan documents in designated vaults throughout the loan's lifecycle.
• Maintain original documents in compliance with the bank's Information Life Cycle policies for active and inactive records.

Collateral Maintenance

Ensure data accuracy in the AFS system for proper portfolio reporting:

• Validate and edit collateral data daily in the AFS system.
• Maintain collateral values and advance percentages for negotiable collateral items such as stocks, bonds, trust accounts, and third-party accounts to ensure accurate margin reporting.
• Research and resolve complex issues related to collateral data.

Collateral Monitoring

Protect the bank's lien position and mitigate risks related to collateral loss due to tax foreclosure or failure to maintain insurance:

• Ensure borrowers maintain required hazard, general liability, and builders' risk insurance on pledged collateral.
• Verify that real estate taxes are monitored by outside vendors and escalate issues as needed.
• Collaborate with lending teams to resolve issues involving insurance and tax tracking.
• Respond to inquiries regarding pledged collateral, researching and resolving complex issues.

Quality Review and Risk Management

• Review updates and maintenance activities related to negotiable instruments, analyzing and interpreting loan documentation and reports.
• Update system flags appropriately, ensuring consistency with monthly statements and collateral monitoring reports.
• Perform monthly Datedown Tax Reviews, validating data in AFS and vendor databases to ensure proper setup and tracking of collateral.