Collateral Analyst II
The Collateral Services Analyst II is responsible for executing all the primary functions which support the safeguarding, monitoring and reporting of the bank's collateral pledged to support the Business Bank and Wealth Management Lending national portfolio. Effective execution of these responsibilities is critical to ensuring a sound lien position in assets securing the Bank's commercial loan portfolio and mitigation of risks inherent in maintaining proper paper and electronic based security interest supporting all Comerica loan groups and lines of business.
Position Responsibilities:
Document and File Safekeeping
- Ensure accurate files are created, maintained and safeguarded for the loan documents evidencing the over 121,000 loans booked to Comerica's Commercial accounting system (AFS) with a Commercial Loan Portfolio value of for all three banking regions: Physical Document Inventory Management
- Validate the receipt of complete loan documentation packages.
- Utilize Omnifile (Content Tracker) System to ensure proper tracking and location of collateral files.
- Secure and Safeguard legal loan documents into designated vault for safekeeping throughout the life of the loan.
- Ensure original documents are maintained in compliance with bank's Information Life Cycle policies regarding active and inactive physical records.
Collateral Maintenance
- Ensure the accuracy of data input in the AFS system for proper portfolio reporting:
- Validate and Edit Collateral data on the AFS system daily.
- Maintain collateral values and advance percentages for negotiable collateral items (stocks, bonds, trust accounts and 3rd party intermediary accounts) allows more accurate under margin reporting to the lending community.
- Research and resolve complex issues.
Collateral Monitoring
- Safeguard the bank's lien position in pledged collateral and mitigate any risks associated with the possible loss of collateral due to tax foreclosure or failure to maintain proper hazard insurance:
- Ensure borrower maintains compliance with CMA Credit Policy by; maintaining required coverage of hazard insurance, general liability insurance and builders' risk insurance for all pledged collateral.
- Must validate that real estate taxes on property held as collateral is being properly monitored by outside vendor and escalate any issues to management to ensure proper remediation occurs when required.
- Collaborate with lending community to resolve issues involving insurance and tax tracking monitoring.
- Respond to internal and external customer inquiries relative to collateral pledged to secure commercial loans.
- Research and resolve complex issues related to insurance tracking, tax tracking and lien filing.
Quality Review (New) and Risk Management
- Review Negotiable updates and maintenance activities -- review, analyze and interpret loan documentation and reports received to system setups.
- Ensure all flags are appropriately updated on the system.
- Confirm negotiable instrument amounts are based on monthly statements and complete reviews of Collateral Monitoring updates.
- Perform monthly Datedown Tax Review -- Validate data on AFS and the vendor's (Lereta) database to ensure the tax contract has been properly set up and is tracking the correct collateral.
Position Qualifications:
- High School Diploma or GED
- 2 years of commercial loan experience
- 2 years customer service experience
- 1 year of experience with PC based mainframe systems, loan accounting system and Microsoft Word Products
About Comerica
We know our employees are critical to our overall success and we are dedicated to investing in their future. One of the ways we do this is to offer a comprehensive Total Rewards package designed to recognize and reward individual performance, as well support health, well-being, development and security for our colleagues and their family. Total Rewards consists of cash compensation, development and flexible benefit programs designed to meet individual needs today and in the future. Your salary will be commensurate with your work experience and our programs are reviewed regularly to ensure each remain competitive. We are proud to offer benefits such as health and welfare programs, strong retirement benefits, and generous paid time off programs. You and your eligible family members, including domestic partners and their children, can participate in medical, dental, and vision benefits, 401(k) and pension, income protection benefits such as life insurance, AD&D, and supplemental health programs to offset unexpected health care expenses. We also have a variety of time off programs for things like vacation, sick time, disability, and parental leave. Eligibility for some programs varies based on employment status and tenure.
Upon offer, Comerica conducts a comprehensive background and fingerprint check.
NMLS certification requirement: where applicable, a favorable background check screening, credit check, fingerprint check, and NMLS certification is required in accordance with the SAFE Act.
Comerica Incorporated (NYSE: CMA) is a financial services company headquartered in Dallas, Texas, and strategically aligned into three major business segments; the Commercial Bank, the Retail Bank, and Wealth Management. Comerica's colleagues focus on relationships, and helping people and businesses be successful. In addition to Texas, Comerica Bank locations can be found in Arizona, California, Florida and Michigan, with select businesses operating in several other states, as well as in Canada and Mexico.
Comerica is proud to be an Equal Opportunity Employer - veterans/individuals with disabilities, committed to workplace diversity.
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Comerica Bank
life insurance, parental leave, paid time off, sick time, 401(k)
Jan 22, 2025