Commercial Collateral Operations Specialist

First Merchants Corporation; Royal Oak (MI); On-site; USD 55,000 - 75,000; Full time

Benefits offered by this job

Base pay plus bonuses

Medical, dental and vision insurance

401k

Health Savings Account

Job summary

First Merchants Bank is seeking a Commercial Collateral Operations Specialist to support our commercial loan portfolio. You will research collateral, review requests, and manage documentation within regulatory requirements and SLAs.

Responsibilities include processing collateral mailbox inquiries, preparing releases for recording, and auditing stock and bond portfolios. Proficiency with OnBase, Horizon, and related systems is favored. Team involvement and accurate workflow logging are expected.

Qualifications

• High school diploma or GED.
• Minimum 2 years of commercial collateral or related experience.
• Experience with commercial loans and documentation preferred.

Responsibilities

• Research commercial loans to identify collateral and verify submitter authority.
• Review and process collateral requests in accordance with regulations and SLAs.
• Process collateral mailbox requests and respond to questions.
• Prepare releases for recording, filing, terminating, and discharging collateral.
• Index and image supporting documents into OnBase.
• Audit stock and bond portfolios semiannually.
• Interacts with customers and lines of business on escalations.
• Participate in meetings and special projects to support the department.

Skills

Excel

Microsoft Office

Attention to detail

Education

High school diploma or GED

Tools

Horizon core banking

OnBase

Simplifile recording

Wolters Kluwer

Job description

First Merchants Bank is seeking a Commercial Collateral Operations Specialist to join our team! As a service provider to First Merchants Bank's internal and external customer base, our core goal is to support our company's mission of being the most attentive, knowledgeable, and high-performing bank for our clients, teammates, and shareholders. This includes performing a range of commercial collateral requests to support our customers, lines of businesses and our internal department. All tasks are to be performed timely and with accuracy in accordance with Regulatory requirements and departmental procedures. To be successful in this position, one should have a flexibility to shift responsibilities if needed in your daily workflow, be a quick learner, and a seasoned multi-tasker.

As part of this role you would:

• Research commercial loans to identify collateral to be released by reviewing the proper supporting documents and verifying the MAP Authority of the submitter.
• Review and process commercial collateral requests with accuracy and in a timely manner in accordance with regulatory requirements and within our SLA (service level agreement).
• Daily assist the team by working within our commercial collateral mailbox to process commercial collateral requests and respond to questions.
• Prepare commercial collateral releases for recording, filing, terminating, and discharging commercial collateral.
• Responsible for indexing and imaging supporting commercial documents into OnBase.
• Process incoming commercial workflow packets.
• Perform an audit of the stock and bond portfolio on a semiannual basis.
• Interact with commercial customers and lines of businesses on escalated matters to help correct and provide a resolution.
• Actively participate in team and department meetings, discussions, special projects, and strategy sessions to support the commercial operations department as a whole.
• Complete workflow and performance logs daily.
• Provide backup support for the department and the team as needed.

In order to be successful in this position, we require the following:

• High school diploma or equivalent (GED).
• A minimum of two (2) years of commercial collateral, commercial loans, commercial documentation, or related commercial experience.

The following would be a plus:

• 3 to 5 years of commercial collateral, commercial loan, or commercial documentation experience.
• Working knowledge with Horizon core banking system, OnBase system, Simplifile recording system, and Wolters Kluwer Solutions.
• Proficiency in Microsoft Office with Strong Excel skills.
• Experience using various government entity recording sites, such as state and local municipalities.

First Merchants offers the following:

• Base Pay PLUS Bonuses
• Medical, Dental and Vision Insurance
• 401k
• Health Savings and Flexible Spending Accounts
• Vacation/Sick Time
• Paid Holidays
• Paid Parental Leave
• Tuition Reimbursement
• Additional Benefits

A little about us:

First Merchants is guided by a genuine philosophy of being a meaningful place to work and having a prosperous impact across all walks of life throughout the communities we serve, including consumers, businesses and other organizations. Our Vision, Mission and Team statement reflect and reinforce that authentic service philosophy.

Our Vision is:

To enhance the financial wellness of the diverse communities we serve.

Our Mission is:

To be the most responsive, knowledgeable, and high-performing financial organization for our clients, teammates, and shareholders.

Our Team:

"We are a collection of dynamic colleagues with diverse experiences and perspectives who share a passion for positively impacting lives. We are genuinely committed to attracting and engaging teammates of diverse backgrounds. We believe in the power of inclusion and belonging."

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities

This employer is required to notify all applicants of their rights pursuant to federal employment laws.

For further information, please review the Know Your Rights notice from the Department of Labor.