Secured Credit Associate

3 weeks ago


Powell, Ohio, United States First Commonwealth Full time
Job Title: Secured Credit Associate

At First Commonwealth, we are seeking a highly skilled Secured Credit Associate to join our team. As a key member of our Secured Credit Department, you will play a critical role in independently monitoring collateral on certain loans within our Corporate Banking and Business Solutions portfolios.

Key Responsibilities:
  • Real Estate Valuation and Construction Loans:
    • Orders and reviews appraisals to ensure compliance with current Interagency Appraisal and Evaluation Guidelines and Uniform Standards of Professional Appraisal Practice.
    • Maintains records of appraiser qualifications and inputs capitalization rates into a spreadsheet/database to monitor valuation trends.
    • Creates and maintains construction loan master files and draw files.
    • Verifies all pre-funding conditions such as pre-leases, maximum loan to value, and borrower equity.
    • Reviews and approves advance requests within established guidelines and total loan amounts approved by the Credit Committee.
    • Communicates out of balance and other significant issues to management and participates in the resolution of such problems.
    • Identifies needed changes to Call Codes and other system fields as loans move through the construction phase to permanent financing.
    • Monitors Change in Terms report for modifications to construction accounts.
  • Dealer Floor Plan:
    • Reviews and approves funding requests in accordance with the terms and conditions of the loan approval.
    • Schedules and reconciles floor plan field audits.
    • Maintains an understanding of Article 9 of the Uniform Commercial Code (UCC) and verifies termination of UCC filings following takeover funding.
    • Authors Secured Credit Comments regarding the nature and quality of collateral.
  • Secured Lending:
    • Orders and reviews field examinations; conveys recommendations and requirements regarding loan structure to management and/or the account officer.
    • Creates and maintains a working file for each followed account, containing relevant loan documents, customer information, and collateral information.
    • Reviews Collateral Recap and Borrowing Base reports.
    • Validates the calculation of borrowing availability by analyzing accounts receivable, accounts payable, and inventory, as appropriate.
    • Communicates over advances and other significant issues to management and participates in the resolution of such problems.
    • Provides trend reporting and analysis as requested.
    • Reviews monthly financial statements for overall changes in a borrower's financial condition.
    • Monitors Change in Terms report for modifications to followed accounts.

Requirements: A Bachelor's Degree in Accounting, Finance, Economics, or other appropriate business field. Strong communication skills and ability to convey concerns to management and converse with account officers, borrowers, and third parties.



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