Secured Credit Operations Analyst
Description
Position Goals:
Carry out operational tasks related to secured credit delivery within the commercial banking portfolio.
Essential Duties and Responsibilities:
- Secured Credit tasks:
- Exercise judgement for the approval or denial of draw requests. Approve daily draws and ensure backup processing in the event of an absence.
- Develop flow of funds documents and identify accounts needed for proper ABL monitoring.
- Create and maintain a working file for each followed account, containing relevant loan documents, customer information and collateral information.
- Review collateral and borrowing base reports. Validate the calculation of borrowing availability by analyzing accounts receivable, accounts payable and inventory as appropriate. Communicate line availability to loan services and account managers.
- Communicate over advances and other significant issues to management and participate in the resolution of such problems.
- Explain and communicate secured credit function and daily operations to customers.
- Provide trend reporting and analysis as requested and provide a weekly portfolio availability report.
- Advance funds and monitor invoices for ProfitStars (Business Manager) clients.
- Interface with clients as needed for questions and resolution of issues on draws and availability.
- Letters of Credit tasks:
- Monitor documentary collections, commercial letters and standby letters of credit.
- Monitor and manage the upcoming letter of credit expiration, auto-renewal and cancellation process.
- Provide consultation to RM/CA on information needed for FMB issued standby, international standby and commercial letters of credit.
- Establish and set-up/track FMB customer's utilizing our correspondent to issue international letters of credit.
- Knowledge of documentary collections process for import or export.
- Provide timely and accurate customer service in a professional manner.
- Serve as backup for other cross-functional operating units within Credit.
- Complete compliance and assigned training and development.
Position Requirements:
Education - Bachelor's degree.
Experience - None.
Other - None.
Preferred Requirements:
Over one (1) year of related analytical or banking experience.
Secured credit, StuckyNet system, commercial credit analysis or letters of credit domestic or international is preferred.
Proficient use of MS Office products including Word, Outlook and Excel.
Adobe Acrobat experience and the ability to learn job-related software.
Qualifications
Education
Bachelors (required)
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)
First Merchants Bank is an Equal Opportunity Employer and E-Verify participant (M/F/D/V).