Commercial Equipment & Vehicle Finance Operations Associate

Santander Bank - Melville, NY

Full-time

Hybrid - Melville, NY

Credit Intermediation and Related Activities

About the position

The Commercial Equipment & Vehicle Finance Operations Associate is responsible for managing loan and lease payments, ensuring compliance with company policies and regulatory requirements. This role involves processing payments, maintaining accurate records, and collaborating with internal teams to resolve discrepancies. The associate will also participate in audits and support various banking projects.

Responsibilities

• Processes and reviews incoming payments accurately and timely.
• Reverses returned items and creates non-sufficient funds fees promptly.
• Corrects accounts due to mispostings by lockbox or customer portal.
• Adjusts accounts as requested before restructuring or setting up ACH.
• Processes unscheduled paydowns and uploads to Point.
• Processes refund checks to lessors/lessees and maintains records in Excel.
• Processes monthly cash flow and sales tax checks timely to lessors.
• Processes write-downs on workout accounts and uploads to Point or serves as a second reviewer.
• Places accounts into NPL, Non-saleable, or updates status changes.
• Processes cash flow deductions and reserve deductions as requested.
• Manually calculates and updates new cash flow amounts when assets are paid off.
• Maintains and reconciles payment records for accuracy.
• Monitors payment transactions to prevent fraud and ensure compliance.
• Collaborates with internal teams to resolve payment issues and discrepancies.
• Prepares and distributes various monthly reports to lessors.
• Stays updated on industry trends and regulatory changes related to payments.
• Researches and responds to commercial loan requests from business areas.
• Ensures proper documentation is filed for internal and external audits.
• Identifies and resolves problems within established guidelines.
• Participates in Bank projects as needed, including UAT testing and procedure reviews.

Requirements

• Bachelor's Degree or equivalent work experience in Business or a related field.
• 3-5 years of Operations and/or Client Service experience.
• Excellent communication skills and good organizational skills.
• Attention to detail and ability to adapt to policies and procedures.
• Ability to manage multiple tasks/projects and deadlines simultaneously.
• General math skills and a can-do attitude.
• Ability to work in a fast-paced environment with little supervision.
• Demonstrated proficiency in Microsoft Office, including Word, Excel, and PowerPoint.
• Knowledge of Syndicated and Commercial Loan products and markets.

Nice-to-haves

• Working knowledge in Commercial Banking.
• Ability to work well with others and on teams.
• Demonstrated knowledge of other banking products.

Benefits

• Hybrid work environment (3 days/week in office).
• Diversity and inclusion initiatives.