Job Code: HBC 25-45

Job Summary:

The Collateral Control Specialist is responsible for servicing loan collateral control functions for all branches, including hazard insurance tracking and property tax monitoring. This role ensures the accuracy of collateral records, effective communication with lending personnel and management, and compliance with regulatory and company guidelines.

Pay Range:  Base Compensation is dependent upon role, experience, and skill set: Min- $21.81/hr Max- $36.36/hr

Primary Responsibilities:

• Monitor and track insurance coverage for all collateral by proactively following up on hazard and any other required insurance policies.
• Identify and monitor loans requiring manual follow-up for insurance coverage compliance.
• Address insurance exceptions by following up with insurance agents and relationship manager to obtain updated declarations for expired, canceled, or insufficient insurance policies.
• Force-place coverage for hazard insurance according to regulatory guidelines and timeframes when a borrower fails to maintain adequate coverage.
• Coordinate with third-party vendors and tracking services to resolve insurance exceptions and address data discrepancies.
• Assist with internal and external audits and quality control checks to ensure all procedures comply with company, investor, and regulatory requirements.
• Process, file, and update insurance and property tax documents in the loan servicing system and generate reports on coverage and exceptions for management review.
• Maintain accurate property tax records and track delinquent tax accounts within the loan portfolio, reporting as required.
• Provide backup support to all Collateral Desks by handling their core duties during staff absences or peak workload periods, ensuring uninterrupted collateral management operations.
• Participate in special projects assigned by management, such as process improvement initiatives, system enhancements, or training new team members, to support departmental goals and continuous improvement.
• Perform all other duties and special projects as assigned

Qualifications:

• Associate’s degree (A.A.) or equivalent from two-year college or technical school; six months to one-year related experience and/or training; or equivalent combination of education and experience.
• Minimum of 1–3 years of experience in loan servicing, real estate, or insurance required; previous experience with Fiserv ITI Loan Accounting System preferred.
• Proficiency with Microsoft Office Suite, especially advanced Excel functions such as pivot tables and VLOOKUP.
• Strong time management and problem-solving skills demonstrated through organizing and prioritizing multiple assignments, resolving discrepancies in records, and making timely decisions under pressure.
• Initiative and autonomy, as evidenced by proactively identifying process improvements, adapting to changing workloads, and supporting team members during staff absences or peak periods.
• Excellent written and verbal communication skills are utilized in collaborating with internal departments, third-party vendors, and borrowers, and in presenting audit findings or reports to management.
• Meticulous attention to detail and a high level of accuracy, which are crucial for maintaining reliable loan and insurance records, tracking property tax accounts, and supporting quality control processes.

Compliance Responsibilities:

The employee is responsible for ensuring compliance with all aspects of job related laws and regulations and must maintain current compliance knowledge by attending compliance related training seminars and staff meetings and by reading pertinent compliance related materials.  

Job related laws and regulations include, but are not limited to the following:  Bank Secrecy Act (BSA); Office of Foreign Asset Control (OFAC); Vendor Management; Information and Data Security; and SEC regulations related to corporate governance and disclosure.

Heritage Bank of Commerce is an Equal Opportunity Employer committed to diversity and inclusion. We do not discriminate on the basis of race, color, ethnicity, religion, sex, sexual orientation, gender identity, national origin, marital status, genetic information, disability, Veteran status, or any other characteristic protected by Federal, state or local laws.

JOB CODE: HBC 25-45