Loan Collateral Specialist, Senior

Alerus; Minneapolis (MN); On-site; USD 32,000 - 39,000; Full time

Benefits offered by this job

Competitive pay

Benefits package

PTO & holidays

Professional development

Financial wellness tools

Job summary

Alerus is seeking a Senior Loan Operations Collateral Specialist to administer and safeguard the Bank's collateral position across the loan lifecycle. You will oversee lien perfection, UCC filings, title administration, and collateral releases while ensuring compliance with regulatory requirements.

In this role you will guide lenders, credit administration, and loan operations, manage complex portfolios across commercial, real estate, and other lending types, and identify process improvements to

Qualifications

• Associate’s degree or equivalent combination of education and/or related experience in the financial industry.
• 6 years of related experience in loan operations with knowledge of collateral documentation, collateral tracking, and collateral management processes.
• High level of communication and client-service skills.
• Ability to manage high volume, time sensitive transactions and situations.
• Experience in system management, evaluating and testing system upgrades.
• Excellent organizational and time management skills, with the ability to provide support and training for the loan team.
• Ability to carry out the work of loan programs and projects, including after-hours work to support business needs.
• High level of commitment to accuracy and detail.
• Ability to accept, support and implement continuous change.

Responsibilities

• Serve as the Bank’s senior subject matter expert for collateral administration activities, ensuring the Bank’s security interests are properly perfected, maintained, and protected throughout the loan lifecycle.
• Administer and oversee complex collateral portfolios across commercial, consumer, real estate, floor plan, and specialty lending, ensuring timely and accurate execution of lien perfection, collateral maintenance, monitoring, modifications, and release activities.
• Ensure timely and accurate completion of collateral-related activities, including UCC filings and continuations, title administration, mortgage recordings, collateral modifications, releases, and related documentation.
• Assist in collateral monitoring activities, including force-placed insurance administration, flood compliance and real estate tax monitoring.
• Assist in escrow administration functions, including new account setup and related servicing activities.
• Provide guidance and consultation to lenders, credit administration, loan operations, and other business partners regarding collateral requirements, lien priority, and perfection standards.
• Assist in complex collateral-related inquiries, exceptions, audits, examinations, and servicing matters.
• Oversee third-party vendors supporting collateral perfection functions, ensuring service quality, operational effectiveness, regulatory compliance, and adherence to Bank policies and service-level expectations.
• Identify and recommend process improvements, automation opportunities, and control enhancements to improve efficiency, reduce risk, and strengthen collateral perfection & release operations.
• Develop and maintain procedures, job aids, and operational documentation to promote consistency, accuracy, and compliance for collateral perfection.

Skills

Communication

Client-service

Time management

Organizational skills

Adaptability

Education

Associate’s degree or equivalent combination of education and related experience

Job description

WHO ARE WE:

Alerus is a commercial wealth bank and national retirement provider with one core purpose: helping clients achieve their financial goals. We are driven by a shared commitment to always do the right thing; leading with integrity and providing valued advice and guidance to our clients. We value the expertise and skillsets each team member provides and encourage collaboration, innovation, adaptability, and an entrepreneurial spirit at all levels of our company. By consistently seeking improvements and growth, we foster long-term relationships with clients and team members. We are proud to be recognized as a Top Workplace by numerous industry and regional outlets.

CORE VALUES:

Passion for Excellence :: Success is Never Final :: Do the Right Thing :: One Alerus

ABOUT THE ROLE:

The Senior Loan Operations Collateral Specialist is responsible for administering and safeguarding the Bank's collateral position throughout the loan lifecycle. This role executes critical collateral functions including lien perfection, UCC filings, title administration, collateral releases, force place insurance monitoring, flood compliance, and real estate tax monitoring. The Loan Operations Collateral Specialist performs due diligence to ensure collateral records are accurate, perfected timely, and maintained in accordance with regulatory requirements, policy, and industry standards.

WHAT YOU'LL BE DOING:

• Serve as the Bank’s senior subject matter expert for collateral administration activities, ensuring the Bank’s security interests are properly perfected, maintained, and protected throughout the loan lifecycle.
• Administer and oversee complex collateral portfolios across commercial, consumer, real estate, floor plan, and specialty lending, ensuring timely and accurate execution of lien perfection, collateral maintenance, monitoring, modifications, and release activities.
• Ensure timely and accurate completion of collateral-related activities, including UCC filings and continuations, title administration, mortgage recordings, collateral modifications, releases, and related documentation.
• Assist in collateral monitoring activities, including force-placed insurance administration, flood compliance and real estate tax monitoring.
• Assist in escrow administration functions, including new account setup and related servicing activities.
• Provide guidance and consultation to lenders, credit administration, loan operations, and other business partners regarding collateral requirements, lien priority, and perfection standards.
• Assist in complex collateral-related inquiries, exceptions, audits, examinations, and servicing matters.
• Oversee third-party vendors supporting collateral perfection functions, ensuring service quality, operational effectiveness, regulatory compliance, and adherence to Bank policies and service-level expectations.
• Identify and recommend process improvements, automation opportunities, and control enhancements to improve efficiency, reduce risk, and strengthen collateral perfection & release operations.
• Develop and maintain procedures, job aids, and operational documentation to promote consistency, accuracy, and compliance for collateral perfection.

WHAT YOU SHOULD HAVE:

• Associate’s degree or equivalent combination of education and/or related experience in the financial industry.
• 6 years of related experience in loan operations knowledge of collateral documentation, collateral tracking, and collateral management processes.
• High level of communication and client-service skills.
• Ability to manage high volume, time sensitive transactions and situations.
• Experience in system management, evaluating and testing system upgrades.
• Excellent organizational and time management skills, with the ability to provide support and training for the loan team.
• Ability to carry out the work of loan programs and projects, to include availability to work after hours to support business needs.
• High level of commitment to accuracy and detail.
• Ability to accept, support and implement continuous change.

WHAT WE BRING TO THE TABLE:

• Competitive compensation including base salary, bonus and/or incentive opportunities.
• Comprehensive benefits package providing a wide range of health and well-being benefits, including medical, dental, vision, life and long-term disability insurance; and 401(k) and ESOP for retirement savings.
• Generous paid time off programs such as flexible time off, company-paid holidays, parental and bereavement leave.
• Learning and development resources for personal and professional career development, and advancement opportunities.
• Access to financial experts for guidance, financial wellness tools, and discounts on Alerus products and services.
• Support for the communities we live in through paid volunteer time and a company donation match opportunity.

WORK ENVIRONMENT:

Work is typically performed in an office setting. The employee is regularly required to sit for extended periods of time. The employee is occasionally required to move about the office utilizing proper ergonomic safeguards when doing so. Additionally, the employee must occasionally lift or move supplies and materials up to 20 pounds.

BASE PAY:

$23 - $28 per hour, based on experience

The above information in this description has been designed to indicate the general nature and level of work performed by employees in this position. It is not designed to contain or be interpreted as an exhaustive list of all responsibilities, duties, and qualifications required of employees assigned to this job.

Alerus is an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.