Fhlbny
Collateral Initiatives and Support Specialist I
New Jersey
Sponsorship not specified$10k-$20kDetected 17 hours ago
Data AnalysisFinancial AnalysisAccountingExcelAuditingResearchCommunicationOrganizational SkillsMicrosoft OfficeUnderwriting
About the role
- The team also responds to member's requests to pledge new types of collateral.
- File, amend, search, or review UCC Financing Statements in a timely manner.
- Ensure timely response to release of collateral files back to members.
Responsibilities
- Works to perform the day-to-day operational support of the collateral vault that
- scope of collateral documentation and other Bank-wide documents secured in
- Performs Large Loan Collateral (CRE) Reviews.
- Support member third party pledging by coordinating with legal department and collateral management any contract changes.
- Manage the relationship between the Bank and third-party custodians and coordinate pledge process within Collateral Risk.
- Prepare legal agreements to support collateral from members (i.e., third party pledge agreements, Collateral Rights Agreements, MERS Agreements and other documents, etc.).
- Ensure storage of imaged and electronic documents are also stored in the document management system in accordance with Bank standards.
- Maintain, track and monitor member documentation (i.e., UCC related documentation, compliance of Representation and Warranties, member questionnaires, MERS documentation and tracking, etc.).
Requirements
- include managing the Bank's ability to perfect
- Preparation requires a documented assessment of the agreements and reconciliation of participation interests of all parties as well as assessment to ensure all required documents are included for legal review.
- 5-10% travel may be required to confirm category changes and vault compliance.
Skills
- Proficiency in Microsoft Excel, Access, Word, PowerPoint, etc.
- Knowledge of the mortgage lifecycle.
- Some experience reviewing legal agreements.
- An understanding of collateral arrangements and corporate structures.
- A working knowledge of Uniform Commercial Code for secured transactions and iLien Online is helpful.
- Education
- MS/MBA, or BA/BS in Finance, Economics, Accounting or equivalent work experience in the mortgage industry.
- Experience with vault operations and managing mortgage collateral is preferred.
- Assist with collateral requests, category changes, legal and regulatory updates.
- Work with management and areas with the Bank's timely response to member requests for guidance regarding collateral pledge needs.
- Prepare memos for system update to set up collateral pledge.
Compensation
- $105,000-$120,000
- Perform annual on-site audits of Bank engaged third party custodians.
This listing is sourced directly from Fhlbny's careers page and normalized into a canonical job model.