Collateral Analyst
Collateral Analyst
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$ 55000 - 90000
1 Vacancy
Job Description
About Us
Live Oak Bank is a digital bank that serves small business owners across the country. Our groundbreaking spin on service and technology has fueled our mission to be Americas Small Business Bank. Our products help customers buy build and expand their business and our high-yield savings and CD products help them grow their hard-earned money. At Live Oak we never lose sight of the well-being of our people. We believe our employees are the heart of our company. Our commitment to our customers and culture is intertwined and we seek those who embody and embrace what it takes to empower the American dream.
How This Role Impacts Live Oak and its People
The Collateral Analyst applies corporate asset-based lending policy and operational risk management protocols to effectively service and monitor Live Oak Banks portfolio of government contract and conventional asset-based borrowing clients in order to prevent or minimize credit loss opportunity and maximize profitability.
What Youll Do at Live Oak
Regularly evaluate and monitor the collateral (receivables inventory equipment etc.) pledged by borrowers to ensure its value aligns with loan covenants and credit agreements.
Review and process borrower-provided collateral reports including Borrowing Base Certificates (BBCs) ensuring all figures are accurate and comply with loan agreements.
Process clients draws / advance requests within delegated authority.
Process and apply account debtor payments to include any reconciliations with clients.
Identify any risks or discrepancies in the collateral values provided by borrowers and work with Analyst Portfolio Manager and Credit Team to resolve issues or raise red flags when necessary.
Use financial models and systems to track collateral trends calculate loan availability and ensure that borrowers are within approved credit limits.
Ensure that all collateral documentation is in place properly filed and complies with legal and internal standards (Assignment of Claims Bailee agreements etc.)
Process and track WCB barrel releases and purchases.
Liaise with borrowers loan officers and underwriters to discuss collateral valuations resolve discrepancies and support the loan decision-making process.
Engage appraisers to conduct periodic reviews. Review appraisals via completion of summaries submitted to Analyst and Portfolio Manager.
Identify out of formula occurrences and address corrective action(s) for client to return to compliance.
Manage invoice verification process for specified book of clients.
Coordinate with Live Oak Banks insurance department to make certain that appropriate levels of hazard insurance general liability insurance and trade credit insurance (if applicable) are in place with correct endorsements / designations.
Create and maintain collateral trend data for client trend cards.
Actively monitor loan and classify collateral patterns and client behavior to mitigate risk.
Track and maintain Dominion of Funds requirements and documents (ie DACA STO etc.)
Perform individual and collaborative projects assigned by the Team Lead or Portfolio Manager from time-to-time.
How Youll Do It
Follow regulatory requirements including those pertaining to the Bank Secrecy Act (BSA) Anti-Money Laundering (AML) Customer Identification Program (CIP) and OFAC to assist in the identification detection and determent of money laundering or other unlawful activities.
Timely completion of on-line on-site and off-site training opportunities.
Embraces team concept also realizing that all team members execution are vital to department success.
Performs other duties as requested by department management.
Required and Preferred Experience
A minimum 1 years experience in a Collateral Analyst role or industry related transferable experience.
Bachelors degree in a related field of study accounting business economics.
Commensurate work history based on the complexity of the banks needs.
Knowledge of bank policies ABL requirements procedures and criteria.
Basic knowledge of FAR and other Government Contracting specifications.
Multitasking and communicating priorities clearly.
Excellent interpersonal skills.
Detail oriented with high levels of ownership and accuracy.
Excellent computer skills (i.e. Excel Word PowerPoint).
Strong customer service and interpersonal skills.
High degree of flexibility.
Sound judgment and detail oriented.
High ethical standards.
Sound intuition.
Our Values
Dedication:Possess a deep commitment to Live Oak Banks mission and core values exemplified through a strong work ethic adaptability and pride in your work.
Ownership:Take initiative to deliver positive results by proactively and creatively solving problems while maintaining a high degree of quality.
Respect:Treat everyone courtesy politeness and kindness.
Innovation:Embrace fresh ideas and fearlessly contribute new solutions to emerging or existing problems.
Teamwork: Foster collaboration accountability and trust with others and understand that together we do more
For a detailed overview of our employee benefits please visit: Oak Bank is an Affirmative Action and Equal Opportunity Employer Minorities/Women/Veterans/Disabled. We consider applicants for employment without regard to race color religion sex sexual orientation gender identity national origin age genetic information veteran status or disability. Equal access to programs service and employment is available to all persons. Those applicants requiring reasonable accommodation to the application and/or interview process should notify human resources at.
Commitment to Diversity
Live Oak Bank is committed to creating and maintaining a workplace in which all employees have an opportunity to participate and contribute to the success of the business and are valued for their skills experience and unique perspectives. This commitment is embodied in company policy and the way we do business at Live Oak Bank and is an important principle of sound business management.
Please note that we provide at least the minimum requirement of paid sick leave to our employees who reside in states that require employer-paid sick leave including but not limited to Arizona California Colorado District of Columbia Maine Maryland Massachusetts Michigan Nevada New Jersey New Mexico New York Oregon Rhode Island Vermont and Washington.
Required Experience:
IC
Employment Type
Full-Time
