Job Description

Date Active

Sep 12, 2022 9:27:25 AM

Requisition #

22-1995

Hours Per Week

37.5

Location

Remote - Nationwide

City

Remote

State

Job Description/ Requirements

If you’re looking for a meaningful career, you’ll find it here at Webster. Founded in 1935, our focus has always been to put people first--doing whatever we can to help individuals, families, businesses and our colleagues achieve their financial goals. As a leading commercial bank, we remain passionate about serving our clients and supporting our communities. Integrity, Collaboration, Accountability, Agility, Respect, Excellence are Webster’s values, these set us apart as a bank and as an employer. 

 

Come join our team where you can expand your career potential, benefit from our robust development opportunities, and enjoy meaningful work!

POSITION SUMMARY

 

The Collateral Associate II manages high risk client accounts associated with our Specialty Finance portfolio and facilitates a range of operational activities relating to the ongoing monitoring, risk management, operational administering, account maintenance, and customer servicing of these accounts. They also serve as a mentor to junior Collateral Associates and complete departmental reporting related to cash and advance reconciliations.

 

JOB RESPONSIBILITIES

 

Core Job Responsibilities/Key Activities/Elements:

  1. 60% Retain a portfolio of complex and high risk clients and complete new client onboarding. Review and analyze BBC and supporting documentation for accuracy and completeness; update collateral related information in collateral monitoring system; reconcile collateral, loans, unapplied and in-transit cash, as well as excess availability between collateral monitoring system and BBC; process advance requests; ensure appropriate authorizations/approvals are obtained in accordance with Bank policies and controls.
  2. 10% Assist Portfolio Managers with monitoring on-going portfolio risk exposure by providing recommendations, identifying trends, and escalating suspicious/inconsistent activities, reporting exceptions, material variances, and overdraft and over-advance issues, attend trend card meetings.
  3. 10% Be a mentoring resource for the Collateral Associate team by disseminating best practices and be a resource for problem solving. Seek to improve the performance of the team in the areas of processes, quality of work, client service, operational excellence, and overall execution.
  4. 10% Complete departmental reporting including reconciliations and system comparatives; communicate any variances or the accuracy and completeness of that data to the Loan Servicing Manager.
  5. 10% Work on ad-hoc projects as assigned, including the testing of system enhancements and collateral monitoring system patches. Answer client inquiries; provide problem solving resolution; provide training to internal and external clients for ABLM.net and SNL.net systems.

EXPERIENCE

 

  • 2 years of experience in Specialty Finance is required.

 

SPECIFIC JOB RELATED EDUCATION & SKILLS

 

  1. One to three years of analysis experience in Specialty Finance is required.
  2. Comprehensive understanding of ABL including collateral monitoring, risk mitigation, loan, and treasury is required.
  3. Must have strong MS Excel computer skills, especially in the area of databases and spreadsheet report preparation.
  4. Must have thorough knowledge of Windows Office software.
  5. Bachelor’s degree. A concentration in Finance or Accounting is preferred.
  6. AR Wizard, ABLM.net, and SNL system knowledge is preferred.

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Equal Opportunities

All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability or protected veteran status.

Application Instructions

Please click on the link below to apply for this position. A new window will open and direct you to apply at our corporate careers page. We look forward to hearing from you!

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