Collateral Analyst II

Comerica - Livonia, MI

Full-time

Hybrid - Livonia, MI

Credit Intermediation and Related Activities

About the position

The Collateral Analyst II plays a crucial role in safeguarding, monitoring, and reporting on the collateral pledged to support Comerica Bank's Business Bank and Wealth Management Lending national portfolio. This position is essential for ensuring a sound lien position in assets securing the bank's commercial loan portfolio and mitigating risks associated with maintaining proper security interests in both paper and electronic formats.

Responsibilities

• Document and File Safekeeping: Create, maintain, and safeguard accurate files for loan documents related to over 121,000 loans.
• Validate the receipt of complete loan documentation packages.
• Utilize the Omnifile (Content Tracker) System for tracking and locating collateral files.
• Secure legal loan documents in a designated vault for safekeeping throughout the loan's life.
• Ensure compliance with the bank's Information Life Cycle policies regarding physical records.
• Collateral Maintenance: Validate and edit collateral data in the AFS system daily.
• Maintain collateral values and advance percentages for negotiable collateral items.
• Research and resolve complex issues related to collateral data.
• Collateral Monitoring: Safeguard the bank's lien position in pledged collateral and mitigate risks of loss due to tax foreclosure or insurance issues.
• Ensure compliance with CMA Credit Policy regarding insurance coverage for pledged collateral.
• Monitor real estate taxes on properties held as collateral and escalate issues as needed.
• Collaborate with the lending community to resolve insurance and tax tracking issues.
• Respond to inquiries regarding collateral pledged to secure commercial loans.
• Quality Review and Risk Management: Review and analyze loan documentation and reports for accuracy.
• Ensure all flags are updated on the system and confirm negotiable instrument amounts based on monthly statements.
• Perform monthly Datedown Tax Review to validate data on AFS and vendor databases.

Requirements

• High School Diploma or GED
• 2 years of commercial loan experience
• 2 years of customer service experience
• 1 year of experience with PC-based mainframe systems, loan accounting systems, and Microsoft Word products.

Benefits

• Hybrid work model with onsite and remote days as determined by the manager.