Asset Based Lending Loan & Collateral Analyst

This position requires the ability to work in the Salem MA office.

Salem Five has more than 30 retail banking branches throughout Essex Middlesex Norfolk and Suffolk counties strong business banking capabilities an Insurance division a Wealth Management & Trust organization and a Mortgage Company that has provided homeownership to generations of families.

Salem Five believes deeply in supporting the communities in which we reside. Donations through our Charitable Foundation or events at the branch or location-level are an important part of our DNA. We would not be the company we are without our commitment to businesses and organizations that help the region thrive and to our employees. Come see what were all about.

ESSENTIAL DUTIES AND RESPONSIBILITIES include the following however other duties may be assigned based on business need:

• Develop expertise through comprehensive training in the Banks collateral monitoring system (ABLSoft) including reviewing loan advance requests and changes to borrowing base collateral components and availability.
• Execute daily loan processing activities within ABLSoft including recording and processing loan advances payments payoffs new loan set-ups participation settlements and borrower system onboarding.
• Interface effectively with the core banking system (Fiserv DNA) and partner closely with internal teams including Loan Servicing Wire Services Loan Administration Accounting Relationship Managers and Portfolio Managers.
• Responsible for daily reconciliations between DNA and ABLSoft and monitoring automated sweeps from respective borrowers to the loan system timely and collateral reductions.
• Prepare and maintain the Daily Activity Report (DAR) and execute end-of-day reconciliation procedures to ensure accuracy of loan balances and availability across all systems including ABLSoft DAR and DNA.
• Conduct daily weekly and monthly collateral analysis of accounts receivable aging inventory equipment and other collateral assets pledged on Borrowing Base Certificates. Serve as the primary reviewer of all Borrowing Base Certificates ensuring accurate and timely posting of collateral data (inventory accounts receivable etc.) into the ABLSoft system.
• Calculate and apply accounts receivable and inventory ineligibles analyze variances and reconcile borrower-prepared BBCs to ABLSoft results. Compare ABLSoft results to borrowers BBC and make revisions after necessary review and approval and informing Borrower(s) in a clear professional manner.
• Responsible for set up and/or modifying all ABL commercial loans on ABLSoft and Daily Actvity Report. This entails ability to read and interpret loan agreements or modifications and to establish payment schedules and data on loan systems to ensure accurate reflection of loan arrangements with customers. This includes understanding structuring amortization interest-only periods and holdbacks.
• Train new borrowers on effective use of ABLSoft in correlation with the ABL Credit Facility such as funding requests and obtaining reports.
• Proactively communicate with borrowers to ensure timely receipt of all required information and documents related to borrowing base and collateral reporting including AR/AP Agings Inventory Reports and other related collateral documents as required.
• Responsible for servicing borrower requests and monitoring daily aspects of the borrowers conduct and reporting changes in the borrowers personnel reporting or behavior. This includes communicating with clients to follow-up on business performance or reporting discrepancies.
• Assist with month-end fees & interest reconciliation and notification procedures.
• Maintain files of ABL department which may include uploading ABL client related documents to the banks document retention system as required.
• Demonstrates compliance with banking business laws and regulations as defined in company policies and procedures pertinent to the position.
• Regular attendance is essential to this position.
• Perform additional duties as required.

EDUCATION and/or EXPERIENCE:

• Bachelors degree from an accredited four-year college or university required; preference for Accounting or Finance major.
• 1-2 years experience in a commercial financial services firm/ banking organization with emphasis on analysis and borrower servicing; or equivalent combination of education and experience.
• Formal credit training is a plus but not required.
• Working knowledge of wire transfer processes and applicable regulatory requirements including BSA AML and OFAC.

Benefits/Incentives: We offer a comprehensive benefits package designed to support your wellâbeing and success including medical dental and vision coverage; Flexible Spending and Health Savings Accounts; 401(k) matching; and tuition reimbursement. You will also enjoy additional perks such as our employee referral program annual holiday reception summer family outing and more.

Salary Range: $77000 - $95835

PHYSICAL DEMANDS:

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job the employee is regularly required to use hands to finger handle or feel and talk or hear. The employee frequently is required to sit. The employee is occasionally required to stand walk and reach with hands and arms. The employee must occasionally lift and/or move up to 10 pounds. Specific vision abilities required by this job include close vision.

Ready to applyIf this job sounds like a fit for you then click onApply/Apply Nowin this posting. We look forward to talking withyou.

No unsolicited resumes accepted from agencies.

Required Experience:

IC