Collateral Processor

Job Title

Collateral Processor

Job Description

Job Function –
Ensures the timely scanning of all loan related collateral and the timely release of all paid out collateral/contracts/promissory notes. Also assists Loan Specialists with loan funding proceeds (official checks/wires) and obtaining evidence of renewed insurance coverage for various types of collateral.


Job Responsibilities –
Ensures timely image and index documentation for all the Bank’s direct and indirect loan files.

Continuously monitors assigned accounts to ensure that any insurance information required under the loan documents is current (excludes indirect).

Coordinates the execution of partial releases and mortgage cancellations instruments, etc. in a timely manner.

Provides for the safekeeping, maintenance and warehousing of original promissory notes and collateral.

Coordinates the timely release of promissory notes and collateral for paid out loans.

Assists bank employees needing help locating pertinent documents in the Bank’s imaging system and/or in the physical file in a timely manner.

Coordinates the disbursement of funds for the various types of loan closings and refund checks as needed.

Coordinates special projects as requested by Loan Specialists, Department Supervisor or Loan Operations Manager.

Ensures that own work is in compliance with all applicable laws, regulations, policies and guidelines.
All other duties as assigned.


Education and Related Experience –
• Previous work experience in the loan operation functions for a financial institution required.
• High School diploma or equivalency required

Skills and Abilities –
• Thorough understanding of PC based word processing and spreadsheet software.
• Understanding of PC applications
• Thorough understanding of the loan operations function
• Ability to gather data to assist assigned Loan Ops staff in resolving loan related issues
• Ability to quickly learn new skills
• Good organizational/planning skills
• Ability to effectively manage time
• Independent and motivated
• Detail oriented
• Good verbal and written communication skills
• Good analytical skills
• Excellent interpersonal skills
• Excellent customer service skills
• Excellent multi-tasking skills

Working Conditions and/or Physical Requirements –
• Ability to work under stress and meet deadlines.
• Ability to operate a keyboard if required performing the essential job functions.
• Ability to read and interpret a document.
• Ability to travel if required to perform the essential job functions.
• Ability to lift/move/carry approximately 20 pounds if required to perform the essential job functions. If the employee is unable to lift/move/carry this weight and can be accommodated without causing the department an “undue hardship” then the employee must be accommodated; hence, omitting lifting as a physical requirement.

Basic Qualifications

• Previous work experience in the loan operation functions for a financial institution required.
• High School diploma or equivalency required