Secured Credit Officer I

Location: 800 Philadelphia Street, Indiana, PA 15701 or 358 N Shore Drive, Pittsburgh, PA 15212

About the Role

Assumes responsibility for moderately complex activities related to Formula-Based Commercial Loan and Asset-Based Loan structuring, monitoring, and operations. Ensures timely processing of draw requests, monitors collateral positions, conditions, performance metrics, and borrower trends. Performs ongoing analysis of collateral reporting to ensure proper collateral coverage and maintains strong working relationships with commercial loan customers, bankers, and third-party consultants.

Responsibilities

• Reviews and analyzes borrowing base certificates, accounts receivable/payable schedules, inventory listings, and other collateral reports to ensure compliance with Formula-Based and Asset-Based Line of Credit conditions.
• Communicates core system maintenance information to the Loan Systems Department for Formula-Based and Asset-Based loans.
• Participates in loan structuring with account officers and prepares information for Commercial Loan underwriting, including collecting and analyzing collateral data and recommending loan structure conditions.
• Reviews and analyzes loan documentation to determine appropriate recommendations.
• Responds to customer inquiries, resolves issues, and provides ongoing customer service for Formula-Based and Asset-Based loans.
• Ensures compliance with existing loan policies and assists in policy development and modification.
• Provides guidance to less experienced Secured Credit Administrators.
• Reviews borrowing base certificates and approves loan requests for Formula-Based and Asset-Based loans.
• Participates in the initial loan closing and funding process, serving as the final approver before wire transfers are processed.
• Receives updated collateral information from borrowers, including Borrowing Base Certificates, AR/AP Aging Schedules, and Inventory Listings.
• Orders field examinations (audits) from third-party CPA firms and ensures findings align with the final Credit Memo approval.
• Verifies initial loan availability in accordance with formula parameters and the Business Loan Agreement.
• Authorizes wire transfers through the nCino credit workflow system.
• Orders inventory and Machinery & Equipment appraisals for Formula-Based, Asset-Based, and other C&I loans, coordinating between borrowers and appraisal firms.
• Reviews appraisals and makes recommendations regarding eligible collateral, advance rates, and loan structure.
• Works with the Wire Room Department to verify loan availability for outgoing wires and reviews wire forms as a second layer of risk management.
• Performs fraud monitoring tests, including quarterly Cash Deposit Proof Tests, reconciling accounts receivable and inventory figures to financial statements, and ensuring timely and accurate collateral reporting.
• Reports suspicions of fraud to Secured Credit Management, the banker, and the Financial Intelligence Group as necessary.
• Identifies out-of-formula loan positions and notifies Secured Credit Management, the commercial banker, and Regional Credit Officer, assisting in developing action plans to bring loans back into compliance.
• Develops proficiency in the Cync asset-based loan system and maintains a portfolio of loans, providing trend reports and collateral analysis to bankers, credit personnel, and senior management.
• Contacts delinquent customers regarding collateral reporting and reports delinquent status to relevant stakeholders.
• Maintains databases and files for collateral reports and supporting documentation.
• Assists in preparing summary reports for Formula-Based and Asset-Based Lines of Credit portfolios.
• Coordinates third-party exams for certain loan customers and reports findings to Commercial Lending Account Officers, Regional Credit Officers, and management.
• Independently monitors a portfolio of loans to ensure compliance with the Credit Memo and Business Loan Agreement, reporting exceptions or performance issues.
• Performs loan request callback procedures to verify appropriate customer representatives are requesting funds.
• Utilizes the nCino credit underwriting, approval, and workflow system to track loan status and verify pre-funding documentation.
• Adheres to Key SOX Controls for engaging independent field examiners and reviewing Borrowing Base Certificates.
• Assumes additional responsibilities as required.

Requirements

• Four-year college degree or equivalent, majoring in accounting or finance.
• Two to five years of general experience, with specialized training in formula-based and asset-based loan monitoring activities.

Schedule

Monday - Friday: 8 AM - 5 PM (Additional hours as necessary to meet department objectives).

Physical Demands

• Operates a keypad device 50-60% and electronic equipment 20-30% of the day.
• Travel: 0-10%.
• Primary body parts involved: fingers, thumb, hand, wrist(s), elbows, legs/feet, upper and lower torso.
• Sitting: 50-60%, standing: 30-40%, walking: 10-20%, reaching above shoulders: 0-10% of the day.
• Routinely lifts 0-10 lbs (0-10% of the day); maximum lift 10-20 lbs (0-10% of the day).
• Work can be performed with reasonable accommodations.

Pay

Salary Range: $48,000.00 - $115,500.00