Asset Based Lending Loan & Collateral Analyst

Salem Five is a growing regional financial services organization with a rich history of over 170 years.  As an independent bank, we are deeply rooted in the communities we serve and offer our employees successful and rewarding careers.

 

This position requires the ability to work in the Salem, MA office. 

Salem Five has more than 30 retail banking branches throughout Essex, Middlesex, Norfolk and Suffolk counties, strong business banking capabilities, an Insurance division, a Wealth Management & Trust organization and a Mortgage Company that has provided homeownership to generations of families.

Salem Five believes deeply in supporting the communities in which we reside.

Donations through our Charitable Foundation or events at the branch or location-level are an important part of our DNA.

We would not be the company we are without our commitment to businesses and organizations that help the region thrive and to our employees.

Come see what we’re all about.

ESSENTIAL DUTIES AND RESPONSIBILITIES include the following, however other duties may be assigned based on business need:


* Develop expertise through comprehensive training in the Bank’s collateral monitoring system (ABLSoft), including reviewing loan advance requests and changes to borrowing base collateral components and availability.


* Execute daily loan processing activities within ABLSoft, including recording and processing loan advances, payments, payoffs, new loan set-ups, participation settlements, and borrower system onboarding.


* Interface effectively with the core banking system (Fiserv DNA) and partner closely with internal teams including Loan Servicing, Wire Services, Loan Administration, Accounting, Relationship Managers, and Portfolio Managers.


* Responsible for daily reconciliations between DNA and ABLSoft, and monitoring automated sweeps from respective borrowers to the loan system timely and collateral reductions.


* Prepare and maintain the Daily Activity Report (“DAR”) and execute end-of-day reconciliation procedures to ensure accuracy of loan balances and availability across all systems including ABLSoft, DAR, and DNA. 


* Conduct daily, weekly, and monthly collateral analysis of accounts receivable aging, inventory, equipment, and other collateral assets pledged on Borrowing Base Certificates.

Serve as the primary reviewer of all Borrowing Base Certificates, ensuring accurate and timely posting of collateral data (inventory, accounts receivable, etc.) into the ABLSoft system. 


* Calculate and apply accounts receivable and inventory ineligibles, analyze variances, and reconcile borrower-prepared BBCs to ABLSoft results.  Compare ABLSoft results to borrower’s BBC and make revisions after necessary review and approval and informing Borrower(s) in a clear, professional manner. 


* Responsible for set up and/or modifying all ABL commercial loans on ABLSoft and Daily Actvity Report.

This entails ability to read and i...