Collateral Support Specialist Ii

About Us
Live Oak Bank is a digital bank that serves small business owners across the country. Our groundbreaking spin on service and technology has fueled our mission to be America's Small Business Bank. Our products help customers buy, build, and expand their business, and our high-yield savings and CD products help them grow their hard-earned money. At Live Oak, we never lose sight of the well-being of our people. We believe our employees are the heart of our company. Our commitment to our customers and culture is intertwined, and we seek those who embody and embrace what it takes to empower the American dream.
How This Role Impacts Live Oak and its People
This role is responsible for protecting the integrity of Live Oak's data and documentation related to its secured interests in collateral. This role fulfills a critical part of the loan origination, modification, and servicing processes through the creation, review, tracking and release of collateral records while also ensuring proper controls are in place to maintain accurate collateral data.
What You'll Do at Live Oak
This role is vital to ensure that collateral data and records are accurate for credit decisioning, financial reporting, auditing and management purposes. Various important banking policies and regulatory agency regulations critically depend on the culmination of our collateral portfolio. In this role, you will be responsible for creating, reviewing, updating, tracking, and releasing collateral records for loan originations, loan modifications and loan payoffs. This includes review of third party reports to confirm values, ownership, and prior liens as well as tracking and continuing UCC filings, handling the release of various types of collateral as needed, and providing overall quality assurance for Live Oak's collateral data. Thorough background in loan fundamentals at a high level will be needed for detailed analysis and investigation of all loan components to create and confirm a reliable collateral profile source. This role will collaborate with commercial lending teams throughout Live Oak in a timely manner while maintaining accurate documentation and efficient processes. In this role, you will ensure that the Bank's internal and external customers receive excellent service and assistance with questions or concerns.
How You'll Do It

• Create, review, update, track and release all collateral records for loan originations and modifications as applicable to ensure all collateral is properly pledged
• Work closely and effectively communicate with Credit, Underwriting, Closing, Servicing, Modification, OSS, Loan Operations, Construction, QA, Insurance, and other teams as needed to ensure all collateral related data is accurate. Review, analyze and prepare various legal documents, including releases, satisfactions, terminations, UCC-3 Continuations and loan modification agreements.
• Prepare and record/file applicable documents to effectively release and/or continue liens held as collateral.
• Review and input of addresses in collateral records for loans with multiple locations.
• Assist Credit Team with determining and confirming vital LTV calculations, documenting available equity for pledging to future loans, identifying policy exceptions, etc.
• Create PMSI UCC collateral records for construction and multi-disbursing loans.
• Assist with the Consilio Collateral migration project and evaluate quality of collateral records migrated to the current system of record to ensure accuracy.
• Promote teamwork and effectively manage workload to ensure quality and customer service standards are maintained and/or exceeded.
• Help achieve corporate and department goals and help develop, coordinate and enforce policies, procedures, and productivity standards.
• Continue to train and learn by attending educational workshops, reviewing professional publications, and benchmarking state-of-the-art practices.

Required and Preferred Experience

• Minimum of 2-3 years of underwriting, credit, closing, legal or other commercial loan related experience is preferred.
• Minimum of 2-3 years of Commercial, Transactional or Banking experience is required.
• Experience with SBA loans, corporate documentation, title, leases, contract and other legal and loan documentation is preferred.
• High School graduate or GED required
• College Degree required
• Proficient in Microsoft Office (Word, Excel, Outlook, and Power Point)
• Critical, strategic and analytical thinking skills
• Highly proficient computer, internet and electronic researching skills
• Very detail-oriented with strong organizational, research and leadership skills
• Excellent written and oral communication skills
• Self-motivated, confident, energetic and creative
• Ability to multi-task and manage narrow timelines
• Ability to cross-train

To Thrive at Live Oak

• Gravitate to Growth - Shows adaptability and support for changes to improve organizational effectiveness.
• Communicate and Collaborate - Communicates clearly and thoughtfully, demonstrating empathy in teamwork.
• Eye of the Tiger - Gets positive results by taking personal responsibility for actions and team outcomes.
• Know Your Business - Curates and maintains a depth of knowledge and skill to perform one's job effectively.
• Customer at the Center - Provides customers with a personalized experience to achieve exceptional outcomes.

For a detailed overview of our employee benefits please visit: https://www.liveoakbank.com/corporate-social-responsibility/live-oak-bank-employees/
At Live Oak Bank, we are passionately focused on creating an inclusive and genuine environment! We encourage you to apply for roles that you believe you'd be a great fit for, even if you feel your past experience does not perfectly match every requirement. As we continue to grow, our People Team will match the skillsets of current and prior applicants with open roles within our organization. As we say at Live Oak, "Paint the Target!" and go after your goals!"