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Collateral Analyst II
Livonia, MI
Job Description
Collateral Analyst II
The Collateral Services Analyst II is responsible for executing all the primary functions which support the safeguarding, monitoring and reporting of the bank's collateral pledged to support the Business Bank and Wealth Management Lending national portfolio. Effective execution of these responsibilities is critical to ensuring a sound lien position in assets securing the Bank's commercial loan portfolio and mitigation of risks inherent in maintaining proper paper and electronic based security interest supporting all Comerica loan groups and lines of business.
The Collateral Services Analyst II is responsible for executing all the primary functions which support the safeguarding, monitoring and reporting of the bank's collateral pledged to support the Business Bank and Wealth Management Lending national portfolio. Effective execution of these responsibilities is critical to ensuring a sound lien position in assets securing the Bank's commercial loan portfolio and mitigation of risks inherent in maintaining proper paper and electronic based security interest supporting all Comerica loan groups and lines of business.
Position Responsibilities:
Document and File Safekeeping
Document and File Safekeeping
- Ensure accurate files are created, maintained and safeguarded for the loan documents evidencing the over 121,000 loans booked to Comerica's Commercial accounting system (AFS) with a Commercial Loan Portfolio value of for all three banking regions: Physical Document Inventory Management
- Validate the receipt of complete loan documentation packages.
- Utilize Omnifile (Content Tracker) System to ensure proper tracking and location of collateral files.
- Secure and Safeguard legal loan documents into designated vault for safekeeping throughout the life of the loan.
- Ensure original documents are maintained in compliance with bank's Information Life Cycle policies regarding active and inactive physical records.
Collateral Maintenance
- Ensure the accuracy of data input in the AFS system for proper portfolio reporting:
- Validate and Edit Collateral data on the AFS system daily.
- Maintain collateral values and advance percentages for negotiable collateral items (stocks, bonds, trust accounts and 3rd party intermediary accounts) allows more accurate under margin reporting to the lending community.
- Research and resolve complex issues.
Collateral Monitoring
- Safeguard the bank's lien position in pledged collateral and mitigate any risks associated with the possible loss of collateral due to tax foreclosure or failure to maintain proper hazard insurance:
- Ensure borrower maintains compliance with CMA Credit Policy by; maintaining required coverage of hazard insurance, general liability insurance and builders' risk insurance for all pledged collateral.
- Must validate that real estate taxes on property held as collateral is being properly monitored by outside vendor and escalate any issues to management to ensure proper remediation occurs when required.
- Collaborate with lending community to resolve issues involving insurance and tax tracking monitoring.
- Respond to internal and external customer inquiries relative to collateral pledged to secure commercial loans.
- Research and resolve complex issues related to insurance tracking, tax tracking and lien filing.
Quality Review (New) and Risk Management
- Review Negotiable updates and maintenance activities -- review, analyze and interpret loan documentation and reports received to system setups.
- Ensure all flags are appropriately updated on the system.
- Confirm negotiable instrument amounts are based on monthly statements and complete reviews of Collateral Monitoring updates.
- Perform monthly Datedown Tax Review -- Validate data on AFS and the vendor's (Lereta) database to ensure the tax contract has been properly set up and is tracking the correct collateral.
Position Qualifications:
- High School Diploma or GED
- 2 years of commercial loan experience
- 2 years customer service experience
- 1 year of experience with PC based mainframe systems, loan accounting system and Microsoft Word Products
Comerica is proud to be an Equal Opportunity Employer - veterans/individuals with disabilities, committed to workplace diversity.
Job Summary
Start Date
As soon as possible
Employment Term and Type
Regular, Full Time
Required Education
High School or Equivalent
Required Experience
2 years
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