Collateral Specialist
BC Forward

Chicago, Illinois
$42.07 per hour

This job has expired.


Collateral Specialist

BCforward is currently seeking a highly motivated Collateral Service Specialist for an opportunity in Chicago, IL!

Position Title: Collateral Service Specialist

Location: Chicago, IL 60603

Anticipated Start Date: Immediately

Please note this is the target date and is subject to change. BCforward will send official notice ahead of a confirmed start date.

Expected Duration: 4 months (Potential to extend or convert FTE)

Job Type: Full-Time, Contract

Pay Range: $42.07 per hour

Please note that actual compensation may vary within this range due to factors such as location, experience, and job responsibilities, and does not encompass additional non-standard compensation (e.g., benefits, paid time off, per diem, etc.).

Job Description: -

Responsibilities -

  • Serves as the primary loan operations contact for approx. 25-35 clients with asset-based loans provided by the client/company.
  • Will maintain a professional and courteous manner with all borrowers, including assisting borrowers by answering questions and resolving problems promptly; queries to be expected are billing, availability, borrowing, or other system update requirement related (e.g. advance rate update via appraisal, change in sublimit or commitment, etc).
  • Will perform a post loan closing review of the relationship, including review of loan agreement and field exam and confirm deal tickler set up
  • Will draft and maintain the Client Resource Guide for all assigned accounts and assist with loan onboarding.
  • Will monitor the timeliness and completeness of the client's collateral reporting and verify authorized signatures are on the reports; will also advise the Credit Risk Manager of reporting inadequacies and other issues and, under the Credit Risk Manager's direction, work with the borrower to resolve these problems.
  • Will review, analyze, reconcile, and post the borrowing base certificate and/or sales and collection reports and supporting documentation to confirm the value of the borrower's collateral as well as the availability and the collateral system; Should be able to calculate ineligibles and reconcile collateral to agings, perpetuals and financial statements or ledgers.
  • Will communicate with the Credit Risk Manager on assigned accounts, and alert them to any unusual trends observed in performing routine job duties.
  • Will work closely with the Group Manager in building out an activity tracker, as well as general executive document preparations, assisting the Collateral Excellence Lead with performance management tool development and procedure library building, and working with the Product Owner team to develop executive management reporting.

Qualifications & Skills:

  • Experience in receivable, inventory and/or other type of collateral monitoring
  • Multi-year experience in credit risk underwriting and business management best practices
  • Bachelor's degree in business, finance, or accounting plus knowledge of commercial lending loan documentation and the ability to interpret standard commercial lending legal terms and language.
  • Familiarity with mainframe loan systems and/or commercial lending loan accounting systems. Knowledge of ACE collateral system and LoanIQ loan system a strong plus
  • Proficient in Tableau, Microsoft Office Excel and other Office applications (Word, Outlook, PowerPoint, etc.)
  • Strong analytical skills and a demonstrated ability to complete complex reconciliations
  • Excellent customer service skills
  • Strong communication skills, verbal and written, both with internal bankers and clients

Benefits:
BCforward offers all eligible employees a comprehensive benefits package including, but not limited to major medical, HSA, dental, vision, employer-provided group life, voluntary life insurance, short-term disability, long-term disability, and 401k.

About BCforward:
Founded in 1998 on the idea that industry leaders needed a professional service, and workforce management expert, to fuel the development and execution of core business and technology strategies, BCforward is a Black-owned firm providing unique solutions supporting value capture and digital product delivery needs for organizations around the world. Headquartered in Indianapolis, IN with an Offshore Development Center in Hyderabad, India, BCforward's 6,000 consultants support more than 225 clients globally.

BCforward champions the power of human potential to help companies transform, accelerate, and scale. Guided by our core values of People-Centric, Optimism, Excellence, Diversity, and Accountability, our professionals have helped our clients achieve their strategic goals for more than 25 years. Our strong culture and clear values have enabled BCforward to become a market leader and best in class place to work.

BCforward is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, or protected veteran status and will not be discriminated against based on disability.

To learn more about how BCforward collects and uses personal information as part of the recruiting process, view our Privacy Notice and CCPA Addendum. As part of the recruitment process, we may ask for you to disclose and provide us with various categories of personal information, including identifiers, professional information, commercial information, education information, and other related information. BCforward will only use this information to complete the recruitment process.

This posting is not an offer of employment. All applicants applying for positions in the United States must be legally authorized to work in the United States. The submission of intentionally false or fraudulent information in response to this posting may render the applicant ineligible for the position. Any subsequent offer of employment will be considered employment at-will regardless of the anticipated assignment duration.

Interested candidates please send resume in Word format Please reference job code 221460 when responding to this ad.

Get job alerts by email.Sign up now!Join Our Talent Network!

Salary Details

This salary was provided in the Job Posting.

$40-$42

Hourly Salary

Job Snapshot

Employee Type
Contractor

Location
Chicago, IL (Onsite)

Job Type
Banking

Experience
Not Specified

Date Posted
04/16/2024


This job has expired.

Get Hired Faster

Subscribe to job alerts and upload your resume!

*By registering with our site, you agree to our
Terms and Privacy Policy.

More IT jobs


Emergent Holdings
Atlanta, Georgia
$17.00 - $33.00 per hour
Posted about 4 hours ago
Emergent Holdings
Richmond, Virginia
$17.00 - $33.00 per hour
Posted about 4 hours ago
Emergent Holdings
Lansing, Michigan
$17.00 - $33.00 per hour
Posted about 4 hours ago
View IT jobs ยป