Asset Based Lending Collateral Analyst - CIT Northbridge Credit (remote)

This is a remote role that may only be hired in the following location(s): CT, NJ, NC, FL, IL, TX

The position is for a Collateral Analyst that will support the CIT Northbridge Credit portfolio administration function by managing and servicing assigned accounts through prescribed policies and procedures, along with the identification of any issues or discrepancies, followed by the notification to the portfolio manager and senior management, as appropriate. The Collateral Analyst builds strong relationships with clients in accordance with CIT Northbridge Credit values, providing value for the client while maximizing preservation of capital and revenue.

Collateral Package Analysis

• Daily validation of collateral information and availability.
• Note/explain all material trend changes.
• Identify potential deterioration of accounts receivables and stretched accounts payables.
• Perform month-end reconciliation to ensure the integrity of collateral.

Client Collateral Maintenance & Utilization

• Ensure the timeliness of advance request approvals in the Stucky system.
• Address client's inquiries.
• Weekly/monthly accurate processing of client Borrowing Base Certificates.
• Utilize CLAS department for information on the following: new deal closings, payoffs, advance rate update, pricing grid changes, loan adjustment inquiry, and audit confirmations.
• Maintain a neat and orderly work area and filing system.
• Maintain client files in SharePoint.

Collateral tracking/Update & Review

• Review Field Examinations and respond back to the portfolio manager regarding audit findings.
• Review Appraisals and respond back to the portfolio manager regarding changes within the report.
• Review the Stucky Input Form, Stucky reports and the Loan Agreement for accuracy.

Portfolio Management Support

• Perform Call Backs on new wiring instructions.
• Upload documents to SyndTrak for lenders.
• Update Trend Cards for monthly portfolio review.
• Update & maintain KYC and Insurance ticklers.
• Maintain tickler to ensure all client information is received in a timely manner according to the terms of the Loan Agreement.
• Review and update procedures, as needed.

Assist with Lender Collateral Maintenance /Daily Advance Processing

• Assist in preparing weekly Borrowing Base Certificates, including those for new clients and daily fundings.

Bachelor's Degree and 0 years of experience in Commercial Lending or Credit Analysis, financial statement spreading, preparation of projections, and trailing twelve-month analysis.

-OR- High School Diploma or GED and 4 years of experience in Commercial Lending or Credit Analysis, financial statement spreading, preparation of projections, and trailing twelve-month analysis.

Preferred Experience:

• Asset based lending (ABL) and borrowing base certificate preparation/analysis;
• Client facing experience, interacting with the clients directly;
• Collateral package analysis, including monthly reconciliations;
• Client collateral maintenance and utilization;
• Collateral tracking, updates and review;
• Portfolio management support; and
• Assisting with lender collateral maintenance and/or daily advance processing

If hired in Chicago, Illinois the base pay for this position is generally between $79,220.00 and $93,200.00. Actual starting base pay will be determined based on skills, experience, location, and other non-discriminatory factors permitted by law. For some roles, total compensation may also include variable incentives, bonuses, benefits, and/or other awards as outlined in the offer of employment.

Actual starting base pay will be determined based on skills, experience, location, and other non-discriminatory factors permitted by law. For some roles, total compensation may also include variable incentives, bonuses, benefits, and/or other awards as outlined in the offer of employment.

Benefits are an integral part of total rewards and First Citizens Bank is committed to providing a competitive, thoughtfully designed and quality benefits program to meet the needs of our associates. More information can be found at https://jobs.firstcitizens.com/benefits.