Formula-Based Monitoring Officer - Secured Credit Administration

Summary

Under the supervision of the Formula Based Lending Team Leader this position is responsible for the oversight of the Formula Based Monitoring Function.  Position will track, analyze, and interpret documentation provided by borrowers as required by a Loan Agreement in support of funds advanced under a revolving line of credit.  Position may also perform other related duties as determined by the Team Leader or Department Manager.

Essential Duties and Responsibilities

Tracks for the timely receipt of borrowing base certificates and other supporting documentation (such as Accounts Receivable and Payable Statements, Balance Sheets, Inventory Schedules), as may be required by a Loan Agreement as a condition of lending for a revolving line of credit.

Reviews and analyzes borrower-provided information received to determine compliance with formula based requirements.

Identifies and follows-up with the appropriate production staff those companies who have not filed required information in a timely manner to determine status.

Reviews and analyzes recent and historical borrowing trends for any inconsistencies.

Reviews and analyzes recent and historical collateral levels for any inconsistencies.

Follows specific notification procedures for companies outside of its permissible borrowing requirements.

Prepares and distributes reports of non-compliance with reporting requirements.

Assures maintenance of appropriate records of work performed by Formula Based Lending staff.

Offers guidance as to bank policy and industry standards to Lenders and Credit Risk Management during the underwriting process.

Provides Credit Risk Management with borrower compliance information during the annual renewal process.

May be assigned other duties and/or responsibilities within Secured Credit Administration, as needed.

Computer Skills

MS Office, including Word, Excel, Outlook, Power Point, and SharePoint.

Familiarity with IBS and Capital Stream Finance Center preferred.

Other Qualifications:

High level of analytical ability to determine the risk involved in each transaction.

Professional demeanor in appearance, interpersonal relations, work ethic and attitude.

Possess clear, concise, effective written and oral communication skills to effectively express thoughts, ideas and concepts to management, bank employees and bank customers in a collaborative and solutions oriented manner.

Ability to maintain confidentiality.

Ability to effectively present information and respond to questions from executive management and/or groups of managers, lenders and customers.

Ability to calculate figures and amounts such as discounts, interest, commissions, proportions, percentages.

Ability to apply concepts of basic algebra and geometry.

Qualifications

Bachelor Degree in business or minimum of four years related experience and/or training in commercial lending/loan documentation; or equivalent combination of education and experience.

Commercial Credit experience required.

Familiarity with commercial loan legal documents.

Familiarity with Balance Sheets, Accounts Receivable/Payable schedules, Inventory and Equipment schedules.

General understanding of systems and procedures used in making and servicing all types of loans.

Ability to read, analyze, and interpret Credit Policy and Commercial Loan Agreements.