Collateral Management Loan Specialist
OceanFirst Bank, Toms River, NJ, United States
About Your Role
The Collateral Management Loan Specialist provides technical expertise and oversight for the review, preparation, and maintenance of collateral documentation supporting secured lending. This role ensures adherence with regulatory requirements, internal policies and procedures related to lien perfection, collateral release processes, and insurance compliance. The Collateral Management Loan Specialist serves as a resource to staff by offering guidance on complex documentation, tax and insurance matters, risk identification, and process execution. The Collateral Management Loan Specialist conducts detailed research, reviews recorded and loan documents, supports internal and external inquiries, and contributes to smooth operational workflow across the department.
What You Will Do
Supports operational efficiency by ensuring tasks are completed accurately and timely and customer inquiries are handled promptly and professionally, creating a reliable and positive experience for borrowers, internal parties and third-party agents.
Assists with reviews for completeness of collateral records, tax, escrow, and insurance data maintained on the core system and data records tracked by third-party vendors used by collateral management team.
Assist team members by conducting comprehensive research on loan files, documents, and property records to resolve internal and external inquiries, while providing subject matter expertise on collateral documentation, tax, and insurance issues.
Completes and reviews full and partial collateral releases across all collateral types, applying legal document review skills to ensure accuracy, proper lien release, and compliance with state and federal requirements.
Ensures collateral documentation across all collateral types meet standards for lien perfection, priority, and enforceability. Reviews UCC filings, continuations, amendments, and terminations to verify that all filings satisfy statutory requirements for establishing or maintaining perfected security interests.
Reviews insurance policies, declarations pages, endorsements, and certificates to confirm they meet loan and collateral coverage requirements.
Identifies and communicates deficiencies in coverage, naming conventions, endorsements, and policy limits.
Provides subject matter guidance to internal teams regarding insurance documentation standards and correction procedures.
Assists with gathering of information for audits, loan sales and other external requests as needed.
Keeps current knowledge of all related systems including but not limited to the core banking system, tax tracking, insurance tracking, loan origination, and collateral tracking systems used by the Collateral Management Team.
Reviews, develops, and updates department procedures, ensuring alignment with regulatory requirements, legal standards, and current departmental practices.
Recommends improvements to enhance efficiency and reduce operational, compliance and legal risk.
Cross trains to support functions including collateral management including collateral releases, payoff quotes, UCC, tax and insurance processing.
Understands the compliance requirements for Loan Operations to ensure files are maintained in accordance with regulations.
Assists with conversions, mergers and other special projects.
What We Expect Of You
Strong verbal, written, communication and interpersonal skills.
Ability to read and understand loan documents including security agreements, mortgage documents, UCC filings, and insurance policies.
Detail-oriented and organizational skills.
Ability to manage various assignments simultaneously and meet required deadlines.
Computer proficiency in Bank systems, MS Office Suite, and loan operation programs.
Strong research skills, including the ability to review public records, property searches, recorded liens, and supporting legal filings.
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What You Will Do
Supports operational efficiency by ensuring tasks are completed accurately and timely and customer inquiries are handled promptly and professionally, creating a reliable and positive experience for borrowers, internal parties and third-party agents.
Assists with reviews for completeness of collateral records, tax, escrow, and insurance data maintained on the core system and data records tracked by third-party vendors used by collateral management team.
Assist team members by conducting comprehensive research on loan files, documents, and property records to resolve internal and external inquiries, while providing subject matter expertise on collateral documentation, tax, and insurance issues.
Completes and reviews full and partial collateral releases across all collateral types, applying legal document review skills to ensure accuracy, proper lien release, and compliance with state and federal requirements.
Ensures collateral documentation across all collateral types meet standards for lien perfection, priority, and enforceability. Reviews UCC filings, continuations, amendments, and terminations to verify that all filings satisfy statutory requirements for establishing or maintaining perfected security interests.
Reviews insurance policies, declarations pages, endorsements, and certificates to confirm they meet loan and collateral coverage requirements.
Identifies and communicates deficiencies in coverage, naming conventions, endorsements, and policy limits.
Provides subject matter guidance to internal teams regarding insurance documentation standards and correction procedures.
Assists with gathering of information for audits, loan sales and other external requests as needed.
Keeps current knowledge of all related systems including but not limited to the core banking system, tax tracking, insurance tracking, loan origination, and collateral tracking systems used by the Collateral Management Team.
Reviews, develops, and updates department procedures, ensuring alignment with regulatory requirements, legal standards, and current departmental practices.
Recommends improvements to enhance efficiency and reduce operational, compliance and legal risk.
Cross trains to support functions including collateral management including collateral releases, payoff quotes, UCC, tax and insurance processing.
Understands the compliance requirements for Loan Operations to ensure files are maintained in accordance with regulations.
Assists with conversions, mergers and other special projects.
What We Expect Of You
Strong verbal, written, communication and interpersonal skills.
Ability to read and understand loan documents including security agreements, mortgage documents, UCC filings, and insurance policies.
Detail-oriented and organizational skills.
Ability to manage various assignments simultaneously and meet required deadlines.
Computer proficiency in Bank systems, MS Office Suite, and loan operation programs.
Strong research skills, including the ability to review public records, property searches, recorded liens, and supporting legal filings.
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