Collateral Verification Specialist
Collateral | Chicago, IL
The Collateral Verification Specialist will conduct collateral verification reviews on Member Institutions to ensure that pledged collateral complies with the Bank’s Member Product Policy and Collateral Review Guidelines. Review findings are used to support the Credit Department in making decision related to the extension of credit. ESSENTIAL DUTIES & RESPONSIBILITIES
- Coordinate and perform on site evaluations of the qualifying collateral pledged to the Bank by Member Institutions to secure indebtedness
- Analyze member’s procedures and recommend changes to increase proficiency
- Prepare comprehensive reports that include findings, comparative analysis and recommendations
- Conduct exit meetings with the Members regarding results of the field audit reviews, and work to establish mutually acceptable solutions to any unfavorable findings
- Work with the member to advise, educate and provide guidance regarding the findings
- Advise the Members and their Auditors regarding the Bank’s Credit and Collateral policies and procedures (Guidelines)
- Participate in development of collateral procedures and review models that include both quantitative and qualitative analysis for a variety of the collateral types
- Other duties as assigned
Bachelor’s or advanced degree in Finance, Accounting or related field. Five to ten years experience in auditing, originating or underwriting residential loans. Business, commercial or agricultural loan experience preferred. Must be willing to travel extensively throughout Wisconsin and Illinois to Member locations
. Must have knowledge of lending operations and the ability to interpret and analyze business and property financial statements.
The mission of the Federal Home Loan Bank of Chicago is to partner with our member shareholders in Illinois and Wisconsin to provide them competitively priced funding, a reasonable return on their investment in the Bank, and support for community investment activities. The FHLBC is dedicated to providing equal employment and contracting opportunities, regardless of race, color, religion, gender, sexual orientation, national origin, age, disability, genetic information or veteran status.
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