Collateral Examiner

This is a remote position.

Employer provides collateral examinations for Commercial Lenders nationally. Lenders (banks, non-bank finance companies) contract with the Employer to provide specialized collateral analysis centered on receivables and inventories. In contrast to financial audits conducted by accountants, the purpose of the collateral examination is to provide information crucial to the loan underwriting process. The position requires knowledge of commercial lending (non-real estate) as well as accounting and auditing techniques, but this is NOT a typical accounting job. Work is at borrower locations nationally. Extensive travel is required (50% in normal times).

Employer is seeking applicants that have specific experience in this niche position.

Employment offers will include a suite of benefits. Bonus potential is based on volume, quality and profitability contributed.

Summary:

Conduct examinations of the books, records and collateral of commercial Borrowers who seek loans from Lenders. Loans are secured by accounts receivable and inventory. Analyze performance and characteristics of such collateral using audit procedures and credit judgment. Communicate progress and problems along the way. Prepare a timely written report that summarizes findings, and complete or develop supporting schedules.

Responsibilities:

1. Conduct field Examinations at Borrower sites covering accounts receivable, inventory, accounts payable, and cash as well as reviewing overall general ledger and portions of the financial statements. Evaluate the adequacy of accounting and operating procedures for credit underwriting and collateral control purposes.
2. Conduct prospect exams including interviews with management and testing of collateral information as in (1) above. Make recommendations pertaining to the structure of the proposed credit facility based on asset-based lending and industry-appropriate parameters.
3. Prepare a comprehensive, accurate, concisely written report (typically using both MS Word and Excel applications) covering findings. Communicate effectively both verbally and in writing.
4. Conduct scheduling and preparation activities working with Borrower and Lender. Track billable time and document expenses.
5. Travel approximately 50% of time out of town/overnight for assignments of one to 5 days. Note: during the Pandemic, travel is temporarily restricted with most work done remotely.

Sensitivities in Client Interactions

1. Interactions with Borrower require a strong service orientation, tact, and flexibility. Manage time so as to stay on budget and deliverables.
2. Contacts include Chief Financial Officers, Controllers, and bookkeeping staff in person, by phone, email, web-conference.
3. Lender contacts include Audit Managers and Credit Administrators, as well as lending officers at Banks and Commercial Finance companies. Understanding these roles is essential.
4. Interactions involve the communication of complex information and explaining complicated situations which require skills including confidence, judgment, persuasion and tact.

Skills & Knowledge Required

1. Bachelors Degree in Accounting or equivalent. Practical business accounting experience is helpful.
2. 2+ years in commercial lending or loan operations with bank or finance company.
3. Well developed written and verbal communications. Technical writing skills. Must submit examples of written work.
4. Computer (PC) proficiency is required including: MS Excel and MS Word at advanced level required, file management and cloud applications. Will be tested in these areas. Knowledge of other database-oriented and data mining tools are desired but not required.
5. Self-motivated and goal oriented. Work independently out of a home-office. Able to complete tasks on budget, on time.

Accountabilities

1. Independent thinking and complex problem solving. General guides and standard procedures are available but there are many gray areas requiring investigation and judgment.
2. Recourse to a Senior Examiner generally available, but must work fairly independently.
3. Probable errors have a significant impact on client relationships with Lender clients and have a significant impact on the reputation and profits of the company.

Location: Work is at both field (Borrower) locations and from your home office. There are positions available for applicants residing in:

• Seattle
• San Francisco – Bay Area
• Los Angeles
• Houston

Other metropolitan areas will also be considered

• Chicago
• New York/NJ
• Atlanta
• Phoenix

Compensation:

-Commensurate with direct experience in the field and range from the high $40,000’s (entry level) to over $100,000, plus bonus.

Requirements

1. Bachelors Degree in Accounting or equivalent. Practical business accounting experience is helpful.
2. 2+ years in commercial lending or loan operations with bank or finance company.
3. Well developed written and verbal communications. Technical writing skills. Must submit examples of written work.
4. Computer (PC) proficiency is required including: MS Excel and MS Word at advanced level required, file management and cloud applications. Will be tested in these areas. Knowledge of other database-oriented and data mining tools are desired but not required.
5. Self-motivated and goal oriented. Work independently out of a home-office. Able to complete tasks on budget, on time.

Benefits

Originally posted on Himalayas