Secured Credit Associate
First Commonwealth Bank

Job Info

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Carries out the Secured Credit Department's mission of independently monitoring collateral on certain loans within the Corporate Banking and Business Solutions portfolios. Primary functions include appraisal management, construction loan advance approval, secured (asset-based) lending monitoring, and dealer floor plan administration. Interprets loan approvals and loan documents to determine conditions of funding. Analyzes documents supporting advances (AIA certificates, inspection reports, borrowing base reports, accounts receivable aging schedules, etc.) to determine funding availability, and identifies risks to the bank. Strong communication skills are necessary to convey concerns to management and to converse with account officers, borrowers, and third parties.

Essential Job Responsibilities__________________________________

Real Estate Valuation and Construction Loans
1. Orders and reviews appraisals to ensure compliance with current Interagency Appraisal and Evaluation Guidelines and Uniform Standards of Professional Appraisal Practice. May render judgments regarding capitalization rates applied or methodologies employed. Maintains records of appraiser qualifications. Inputs capitalization rates into a spreadsheet/database to monitor valuation trends. Remits invoices for payment.

2. Creates and maintains construction loan master files and draw files.

3. Verifies all pre-funding conditions such as pre-leases, maximum loan to value, and borrower equity.

4. Reviews and approves advance requests within established guidelines and total loan amounts approved by the Credit Committee. Analyzes AIA certificates, paid invoices, inspection reports, lien waivers, title bring downs and other relevant documents. Tracks the project budget, including interest reserves, if applicable. Facilitates processing of advances in conjunction with Loan Services.

5. Communicates out of balance and other significant issues to management and participates in the resolution of such problems.

6. Identifies needed changes to Call Codes and other system fields as loans move through the construction phase to permanent financing.

7. Monitors Change in Terms report for modifications to construction accounts.

8. Authors Secured Credit Comments, addressing whether the project is on time, on budget, in conformance with plans and specifications, and lien free.

Dealer Floor Plan
1. Reviews and approves funding requests in accordance with the terms and conditions of the loan approval.

2. Schedules and reconciles floor plan field audits.

3. Maintains an understanding of Article 9 of the Uniform Commercial Code (UCC) and verifies termination of UCC filings following takeover funding.

4. Authors Secured Credit Comments regarding the nature and quality of collateral.

Secured Lending
1. Orders and reviews field examinations; conveys recommendations and requirements regarding loan structure to management and/or the account officer. Remits invoices for payment.

2. Creates and maintains a working file for each followed account, containing relevant loan documents, customer information, and collateral information.

3. Reviews Collateral Recap and Borrowing Base reports. Validates the calculation of borrowing availability by analyzing accounts receivable, accounts payable, and inventory, as appropriate.

4. Communicates over advances and other significant issues to management and participates in the resolution of such problems. Provides trend reporting and analysis as requested.

5. Reviews monthly financial statements for overall changes in a borrower's financial condition.

6. Monitors Change in Terms report for modifications to followed accounts.

Bona Fide Occupational Qualifications___________________________

1. A Bachelor's Degree in Accounting, Finance, Economics, or other appropriate business field, or equivalent education and/or experience, is required.

2. Ability to understand and analyze financial statements is required.

3. Related experience in secured credit, commercial credit analysis, or lending and/or equivalent experience with the department's functions is preferred.

4. Experience in real estate valuation [Cost Approach, Sales Comparison Approach, Income Approach (including Discounted Cash Flow analysis)] is preferred.

5. Proficiency with Microsoft Word and Excel is required.

6. Strong reading comprehension skills necessary to interpret loan documents and other complex material. Basic math skills including precise calculations and attention to detail are 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)

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