Job Description

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!

-The Borrower in Custody (BIC) Manager oversees the complete process of loan documentation processing and reviews for eligibility and pledging to the Federal Reserve Bank of NY (FRBNY). 

- Requires in-depth understanding of how areas collectively integrate within the sub-function as well as coordinate and contribute to the objectives of the entire function.

-BIC Manager is responsible for gaining crucial liquidity for the Bank through efficient pledging of loan collateral

-Requires excellent commercial loan & credit documentation awareness as well as expertise in BIC guidelines.

  • Work in partnership with key stakeholders including Treasury, Data and Audit teams
  • Effectively convey pertinent information and issue escalations to all business stakeholders
  • Excellent commercial loan & credit documentation knowledge
  • Ability to recognize & rectify critical data issues expediently
  • Produce and review metrics around loan documentation reviews for senior management
  • Oversee daily and monthly reporting submissions and ensure controls surrounding report submissions are robust for accurate and timely submissions to the FRBNY.
  • Manage, coach and mentor BIC specialists
  • Ensure timely review of loan documentation against BIC eligibility utilizing established guidelines
  • Work with outside counsel & title companies to clear documentation exceptions
  • Ability to work both independently and collaboratively, with excellent follow-through and organizational skills.
  • Research, resolve, and respond to complex loan issues and provide guidance to the team on all issues
  • Use multiple commercial loan origination systems to ensure loans are pledged correctly on the system(s) and data is pulling correctly
  • Maintain up to date knowledge on critical pledge guidelines from the FRBNY in order to keep the Bank pledge eligible
  • Ability to multi-task and reprioritize efficiently

Experience/Skills Needed:


·         7-10 years of experience

·         Preferred Bachelor’s Degree

·         Paralegal preferred, but not required

·         In lieu of degree, a combination of minimum 10 years of higher education and work experience to include minimum 4-years related experience with 3-years work leadership/supervisory experience.

·         Previous experience with Borrower in Custody (BIC) program or other Regulatory Reporting preferred

·         Excellent commercial loan and credit documentation knowledge required

·         Strong knowledge of commercial loan origination systems

·         Intermediate experience with Microsoft Excel


The estimated salary range for this position is $90,000 to $107,000. Actual salary may vary up or down depending on job-related factors which may include knowledge, skills, experience, and location. In addition, this position is eligible for incentive compensation.

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

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