Secured Credit Officer I

Location:

800 Philadelphia Street

Indiana, PA 15701

or

358 N Shore Drive
Pittsburgh, PA 15212

Hours:

Monday - Friday: 8AM-5PM

(Additional hours as necessary to meet the objectives of the department

Function:

Assumes responsibility for moderately complex activity of Formula Based Commercial Loan structuring, monitoring and operations, as well as Asset-Based Loan structuring, monitoring and operations. Ensures the timely processing of draw requests, monitors collateral positions, conditions, performance metrics and borrower trends. Receives formula-based and asset-based collateral reporting and performs ongoing analysis to ensure proper collateral coverage. Monitors and reports to on a portfolio of formula-based and asset-based loans while providing exceptional customer service. Charged with preserving the bank's collateral through the following of diligent processes and controls. Develops and maintains strong working relationships with commercial loan customers, bankers, and third-party consultants.

Duties and Responsibilities:

• Reviews and analyzes borrowing base certificates, account receivable schedules, account payable schedules, inventory listings and other various collateral reports to ensure compliance with Formula Based and Asset Based Line of Credit conditions.

• Communicates core system maintenance information to the Loan Systems Department for availability on Formula Based and Asset Based loans.

• Participates in loan structuring with account officers and helps prepare information for Commercial Loan underwriting including: Collecting and analyzing collateral data, and recommending conditions for proper loan structure.

• Reviews and analyzes loan documentation to determine appropriate recommendations.

• Receives and responds to various customer questions, works to resolve issues and provides ongoing customer service in the administration of Formula Based and Asset Based loans.

• Ensures compliance with existing loan policies and procedures and assists in policy development and modification.

• Provides assistance regarding accounts to less experienced Secured Credit Administrators.

• Reviews borrowing base certificates and supporting schedules and approves loan requests for Formula Based loans and Asset Based loans.

• Participates in the initial loan closing and funding process and serves as the final approver before the wire transfer is processed. Receives updated collateral information from the borrower including a Borrowing Base Certificate, AR Aging Schedule, AP Aging Schedule, and Inventory Listing. Orders a field examination (audit) from a third-party CPA firm, and ensures findings and recommendations are consistent with the final Credit Memo approval. Verifies initial loan availability in accordance with formula parameters and the Business Loan Agreement. Authorizes the wire transfer through the nCino credit workflow system.

• Orders inventory and Machinery & Equipment appraisals for Formula-Based loans, Asset-Based loans, and other C&I loans bank-wide. Responsible for soliciting quotes, selecting the appraisal firm and coordinating scheduling and the flow of information between the borrower and the appraisal firm. Reads and reviews appraisals and makes recommendations regarding eligible collateral, advance rates, and loan structure. Ensures the vendor is paid and the bank is reimbursed by the borrower.

• Works with the Wire Room Department to verify loan availability for outgoing wires of asset-based and formula-based loan customers. Reviews wire forms as a second layer of risk management to ensure beneficiaries of the wires are active vendors and payees.

• Performs various testing and validation to monitor for potential fraud including quarterly Cash Deposit Proof Tests on formula based and asset-based loan customers, reconciling accounts receivable and inventory figures to financial statements, and ensuring collateral reporting is timely, comprehensive and accurate. Reports any suspicion of fraud to Secured Credit Management, the banker and the Financial Intelligence Group, if necessary

• Identifies any out-of-formula loan positions and immediately notifies Secured Credit management, the commercial banker, and Regional Credit Officer. Participates in joint phone calls, Teams meetings or on-site visits with the borrower to ascertain the reasons for the collateral shortfall. Assists in developing an action plan for bringing the loan back into compliance. Monitors the collateral position and reports regularly until the loan is in compliance.

• Develops proficiency and expertise in the Cync asset based loan system. Maintains a portfolio of formula bases and asset based loans on the system and is responsible for providing trend reports and collateral analysis to bankers, credit personnel and senior management.

• Contacts formula-based and asset based customers who are delinquent on their collateral reporting and reports the delinquent status to the Commercial Banker, Regional Credit Officer and Secured Credit management.

• Maintains a database and files on Formula Based and Asset Based collateral reports, as well as information necessary to verify collateral and supporting documentation on construction loans.

• Assists in the preparation of summary reports of the Formula Based Lines of Credit and Asset Based lines of credit portfolios.

• Coordinates 3rd party exams of certain Formula Based and asset based Lines of Credit customers. Reviews results of field exams and reports findings to Commercial Lending Account Officer, Regional Credit Officer, Credit Management and Lending Management.

• Independently monitors a portfolio of formula-based loan and asset based loan accounts and is responsible for ensuring loans are in compliance with the Credit Memo and Business Loan Agreement. Responsible for reporting any exceptions or performance issues.

• Performs loan request callback procedures to external customers to ensure appropriate customer representatives are requesting funds.

• Maintains a good working relationship with bank employees. Demonstrates strong interpersonal skills with the ability to work independently, as well as motivation to work as a team player to contribute to the success of the department, and in turn the organization.

• Utilizes the bank's credit underwriting, approval and workflow system, nCino, to track loan status, verify pre-funding documentation and approve initial funding.

• Responsible for adhering to Key SOX Controls pertaining to the engagement of independent field examiners and review and signoff of Borrowing Base Certificates.

• Assumes additional responsibilities as required.

Requires a four-year college or equivalent, majoring in accounting or finance.

Two to five years general experience, two to five years specialized training of formula-based loan and asset based loan monitory activity.

Physical Demands:

This work can be performed at multiple locations. Operates a keypad device 50-60%, electronic equipment 20-30% of the day. Traveling 0-10%. Primary parts of the body involved include fingers, thumb, hand, wrist(s), elbows, legs/feet, upper and lower torso. Sitting 50-60%, standing 30-40%, walking 10-20%, reaching above shoulders 0-10% of the day. Routinely lifts 0-10lbs 0-10%, maximum lift 10-20lbs 0-10% of the day. This work can be performed with reasonable accommodations request.

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities

The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor's legal duty to furnish information. 41 CFR 60-1.35(c)

Salary Range: