Cambridge Savings Bank is a full-service banking institution committed to improving the quality of life for its employees and customers. The ABL Loan and Collateral Analyst will provide analysis and communication with asset-based loan borrowers, focusing on collateral updates and managing assigned portfolios under the guidance of senior staff.
Responsibilities
- Provide all necessary analysis, posting, monitoring of and communication with asset-based loan borrowers regarding daily and monthly processing of collateral updates/Borrowing Base Certificates (BBC)
- Become efficient, via in depth training, working with our collateral monitoring system (ABLSoft)
- Perform daily activities of Loan Servicing using the ABLSoft system including but not limited to: recording and processing of loan advances, payments, payoffs, new loan set-ups, performing new client orientation sessions of ABLSoft system, and participation settlements
- Interface with core banking system (Fiserv DNA) and bank partners including Loan Servicing, Wire Service Team, Loan Administrations and accounting staff as applicable
- Perform daily bank reconciliations between DNA and ABLSoft and monitoring RPA automated sweeps from respective borrower to the loan system timely, as well as collateral reductions
- Perform daily and weekly collateral analysis of accounts receivable aging, inventory, equipment or any other collateral asset pledged on BBC’s
- Review all Borrowing Base Certificates, ensuring accurate posting of all collateral information (inventory, accounts receivable, etc.) into the ABLSoft system
- Process in accurate AR & Inventory ineligibles, etc. to ABLSoft and DAR as well as informing Borrower(s)
- Compare ABLSoft results to borrower’s prepared BBC and revise accordingly after necessary review and approval
- Responsible to set-up and/or modifying every ABL commercial loan on ABLSoft/DAR
- Ensure the timely receipt of all required information and documents related to borrowing base and collateral reporting such as AR & AP Agings, Inventory reports and other related collateral documents as required
- Create and maintain certain internal monitoring and management reports including the Daily Activity Report (DAR) by account
- End of day reconciliation procedures to ensure ABLSoft, DAR and DNA reconcile with respect to loan balances and availability
- Responsible for servicing borrower requests and monitoring daily aspects of the borrower’s conduct and reporting changes in the borrower’s personnel, reporting or behavior
- Assist with month-end fees & interest notification procedures
- Maintain files of ABL department, which may include uploading ABL client related documents to the banks OnBase system as required
Skills
- Bachelor's degree from a four-year college or university required
- Preference for Accounting/Finance major
- In-depth knowledge of wire transfers processes and regulatory requirements (BSA, AML, OFAC)
- 0-2 years' experience in a commercial financial services firm/ banking organization with emphasis on analysis and borrower servicing; or equivalent combination of education and experience
- Strong MS skills, particularly Excel, for reconciliation and reporting
- Ability to utilize software packages including accounting software, MS Office and other financial software packages
- Strong working knowledge of Microsoft Excel, Word and Teams is required
- Skills must include the ability to utilize advanced formulas, tables and formatting, conditional formatting, advanced charting, and pivot tables
- Basic knowledge of financial analysis
- Personal skills must include: strong mathematical skills, pleasant and effective when solving problems with clients; accurate and well-organized while giving consistent attention to detail; works responsibly on own managing daily priorities; and positive attitude when working with others
- Skill in conflict resolution and ability to handle stressful situations
- Ability to manage multiple tasks concurrently and multiple deadlines
- Ability to maintain confidentiality
- Ability to objectively evaluate information gathered and effectively communicate those findings
- Ability to establish and maintain effective working relationships with employees, clients and outside contacts
- Ideally, the ABL LCA will have been formally credit trained (although this is not a requirement)
Benefits
- Healthcare
- Parental planning
- Mental health benefits
- Performance bonus opportunities
- A 401(k) plan and match
- Flexible time off
- Others
Company Overview
Cambridge Savings Bank is a public bank serving both individuals and businesses. It is a sub-organization of Ivy Bank. It was founded in 1834, and is headquartered in Cambridge, Massachusetts, USA, with a workforce of 201-500 employees. Its website is http://www.cambridgesavings.com.