Sr Payoff/Collateral Specialist
- Los Angeles, CA
SENIOR PAYOFF/COLLATERAL SPECIALIST
WHAT IS THE OPPORTUNITY?
The position plans, organizes, and controls the day-to-day administrative and operational compliance of Demands and Reconveyances activities. Ensures that Demands and Reconveyances tracking is in conformity with regulatory/government requirements. Coordinate efforts with other business units to identify and resolve processing issues. This position calls for high level interaction with Bank management, and government regulatory agencies.
Residential Lending Division
Make a meaningful difference as a member of City National's Residential Lending group. This is a great opportunity to grow your career with a stable and expanding organization while enhancing and retaining bank client relationships through competitive mortgage products and solutions with exceptional service and care.
WHAT WILL YOU DO?
- Responsible for analyzing, reviewing and approving demand/payoff requests and sign collateral release documents including reconveyances of paid loans.
- Collaborates with the Compliance Department and Legal in the overall administration of the related directives for the Bank
- Participates in audits and examinations on behalf of the CLC Demands and Reconveyances Department
- Responsible for ensuring compliance with assigned Bank policies and procedures; as well as, with the applicable state and federal banking regulations
- Provides guidance and direction to Payoff and Collateral Specialists.
- Maintains a proficient knowledge of applicable banking and RESPA rules and regulations.
- Interface with Internal Audit, Compliance and external regulatory agencies such as the CFPB and OCC.
- Identifies and mitigates potential issues; interacts with Bank personnel including audit and compliance pertaining to remediation issues.
- Responsible for data integrity of Demands and Reconveyances tracking across vendor systems for FDIC acquired and legacy loans.
- Consult with Legal and Credit Administration Department to validate policies and to identify and document process and procedure improvement.
- Manage Special Projects independently.
- Processes, solves and answers complex customer issues, problems or inquiries.
- Assumes responsibility for special monitoring/quality assurance projects, gathers data and prepares reports for Senior Management, audits and other personnel.
- Maintain a proactive, committed approach to such programs as Customer first, Community Reinvestment Act (CRA) and Equal Employment Opportunity.
WHAT DO YOU NEED TO SUCCEED
- Minimum 5 years of experience working in documentation or a bank servicing department
- Minimum 5 years of experience in analyzing loan documents and credit approval documents.
- Minimum 2 years of experience with MS Office Suite
Skills and Knowledge
- Must be able to process and handle large volumes ensuring quick turnaround
- Familiarity with the CFPB, RESPA and Article 9
- Education: Associates Degree or higher.
- Strong Microsoft Office suite knowledge,
- Strong math/accounting, data analysis and business writing skills
- Strong research and analytical skills
- Ability to quickly adapt to and become proficient in disparate loan processing systems
- Must be able to resolve Issues of high complexity regarding commercial demands, LIBOR loan payoffs, Company acquisition transactions Letter of credit, and Yield Maintenance prepayment penalties or its equivalent.
- For consumer loans, understanding CEMA transactions at payoff and governing rules for co-op loans.
- Candidate for this position must be able to analyze commercial and consumer notes and credit memorandum.
- Candidates must have a strong documentation and collateral background.
*To be considered for this position you must meet at least these basic qualifications
The preceding job description has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job.
INCLUSION AND EQUAL OPPORTUNITY EMPLOYMENT: City National Bank is an equal opportunity employer committed to diversity and inclusion. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status or any other basis protected by law.
ABOUT CITY NATIONAL: We start with a basic premise: Business is personal. Since day one we've always gone further than the competition to help our clients, colleagues and community flourish. City National Bank was founded in 1954 by entrepreneurs for entrepreneurs and that legacy of integrity, community and unparalleled client relationships continues to drive phenomenal growth today. City National is a subsidiary of Royal Bank of Canada, one of North America's leading diversified financial services companies.
Equal Opportunity Employer Minorities/Women/Protected Veterans/Disabled
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