A/R and Asset Based Lending Monitoring Specialist II - Midvale UT or Los Angeles - Hybrid Schedule

Location
Los Angeles, California
Salary
Open
Posted
Dec 12, 2023
Closes
Dec 12, 2024

Zions Bancorporation is one of the nation's premier financial services companies operating as a collection of great banks under local brands and management teams in high-growth western markets. Zions is regularly recognized by American Banker as one of the "Best Banks to Work For" and as having a top banking team in its list of "The Most Powerful Women in Banking." Our customers consistently vote us as the best bank in our local markets., We value our employees, and we are committed to search out, recognize and create fulfilling opportunities for outstanding people within our organization, rewarding them for their contributions to our success. We recognize that banking is a "local" business, and that to be successful, we must have very strong ties to the communities we serve and strong relationships with our customers.

 

 

With benefits starting on day one, 12 bank holidays, profit sharing and company-matched 401(k) contributions, Zions is dedicated to being an employer of choice in our communities. At Zions, the possibilities are endless. You bring the talent; we bring the opportunity.

 

Zions Bancorporation is hiring an Asset Lending Monitoring Specialist II to join our Central Collateral Monitoring department. Position can be located in Los Angeles or Midvale, UT and will offer a 3/2 hybrid work schedule.

 

The Asset-Based Lending Group is part of the Commercial Finance Department and specializes in asset-based financing structures; including revolving lines of credit and term loans, to borrowers across a variety of industries. We offer ABL loan origination and portfolio management support services including review of financing requests to determine if the borrower is a candidate for an ABL structure.

 

Responsibilities

 

  • Responsible for calculating a Borrowing Base Review (BBR) deliverable based on the Borrowing Base Certificate (BBC) and supporting reports submitted by either the Borrower, the Lender or third party service.
  • Completes BBR's within required time from receipt of the BBC and supporting reports, for Loans where Zions is the primary or only Lender.
  • Responsible to reconcile various information to ensure the sales, collections and adjustments information is correct on direct ABL loans and optional for non-direct ABL loans. 
  • Reviews incoming payments from Borrower's AR Debtors to make sure we receive all collections and only AR payments.
  • Compare these incoming payments against the borrower's collections.
  • Investigates the discrepancy with the borrower as required.
  • Calculates BBR based on multiple collateral tranches for multiple collateral types.
  • Validates loan balances and other reserves to BaNCS or other sources.
  • Provides recaps of BBR to the Portfolio Manager/Relationship Manager and Borrower.
  • Investigates differences between the collateral reports and the BBR with the Portfolio Manager/Loan Officer or Borrower.
  • Works with Borrower or Loan Officer to resolve technical issues. 
  • Review BBR results for accuracy, potential fraud and unusual accounts and amounts.
  • Reconciles data and enters the Borrowing Base and data into the Asset-based Lending software.
  • Escalates Over-Advances to ABL management and Credit Administrators.
  • Produce Pre-flight or prospective BBR's on multiple collateral types for Lenders on an ad hoc basis. 
  • Other duties as assigned.

 

Qualifications:

 

  • Requires a High School diploma or Equivalent   
  • 6+ years asset based lending principles, processes, borrowing based certificates and reporting, collateral, accounting and reconciliations, banking or other directly related experience.
  • A combination of education and experience may meet job requirements.
  • Advanced working knowledge of Asset-base loan principles and processes, including syndication loan structures, multiple collateral tranches, loan documentation and accounting principles. 
  • Advanced working knowledge of multiple loan types i.e. Swing loans, Letters of Credit, Term loans, SOFR loans, etc.
  • Strong working knowledge of collateral eligibility for multiple collateral types and extensive outside legal prepared loan documents. 
  • Strong working knowledge of participation loans (multiple lenders, multiple sources of collateral).
  • Strong working knowledge of multiple advance rates and complex limitations (advance caps) on the collateral.
  • Ability to prepare Borrowing Base Review reports.
  • Strong organizational, analysis and balancing skills.
  • Excellent attention to detail, ability meet deadlines and to multi-task.
  • Strong problem resolution, communication skills, both verbal and written. 
  • Advanced working knowledge of computer software including; Excel, Word, PowerPoint, Access and related ABL software.

 

 

This position is eligible to earn a base salary in the range of $60,000 - $66,000 annually depending on job-related factors such as level of experience and location.



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