Collateral Analyst

Company: RPMGlobal
Location: Boston
Posted on: April 3, 2025

Job Description:

The Federal Home Loan Bank of Boston (FHLBank Boston) is a leading provider of wholesale funding for housing and community finance in New England serving more than 420 financial institutions across the region. FHLBank Boston is committed to making New England a better place to live and do business, and our employees are integral to our success. As a cooperative, we are owned by more than 420 banks, credit unions, insurance companies, and community development financial institutions that access tens of billions of dollars of our reliable, wholesale funding each year. Our funds are a vital resource that helps our members succeed, provide families with safe, decent affordable housing, and generate economic development that creates jobs in communities throughout our region.Our highly skilled team of 200 is innovative, collaborative, and passionate about the work we do. We seek other professionals excited to share their knowledge, talent, and passion for our mission to join our team. We offer opportunities for career development, robust benefits, and a work-life balance.Position SummaryThe Collateral Analyst (Analyst) is responsible for ensuring that all Bank advances and other exposures to members are fully secured with qualified, eligible collateral at all times in accordance with the Bank's Products and Solutions Guide and other risk management policies and procedures.Specifically, the Analyst will process, analyze, and value collateral pledged by members and non-member borrowers to secure extensions of credit from the Bank. The Analyst will assist in the preparation of reports regarding collateral composition, valuation estimates, and the borrowing capacity of members to facilitate decisions by Bank management regarding lending to members. The Analyst will also interact via email and by telephone with member institutions, including senior management at member institutions, regarding their collateral positions, the eligibility of various assets as collateral, and be the point of first contact for members regarding the interpretation of Bank collateral policies. The Analyst also interacts with the Bank's Member Services Department and other stakeholders regarding member collateral inquiries.The Analyst will also help to support the maintenance and enhancement of Bank policies, processes, and procedures by participating in the testing of the functionality of systems. The Analyst also will complete additional tasks assigned by AVP/ Member Collateral Risk, VP/ Member Collateral Management, and VP / Director, Collateral and AMA Risk Management.This role will have a hybrid work schedule in our Boston office in accordance with the Bank's Hybrid Work Program. More time will be expected in the office to support onboarding initially, up to 90 days.Specific Responsibilities

• Review collateral pledged to the Bank to ensure compliance with the Bank's Products and Solutions Guide.
• Analyze quarterly updates of information for mortgage collateral listed with and/or delivered to the Bank to ensure its ongoing eligibility and accurate formatting to facilitate analysis using the Bank's market and credit risk analysis models.
• Work with members that have a low collateral excess to remind them of their ongoing responsibility to maintain sufficient qualified eligible collateral with the Bank.
• Serve as a point of first contact for members seeking to pledge additional loan collateral, and work with the Collateral Review team to facilitate the qualification of additional collateral.
• Support the ongoing analysis of securities pledged as collateral.
• Support the ongoing analysis of loan and securities collateral documentation between the member, the Bank, and third parties. These third parties may include securities and document custodians, and servicers.
• Support ongoing testing of new policies, procedures, and systems as necessary.
• Review residential mortgage loans pledged to the Bank to ensure their eligibility as collateral, including a review of the accuracy of information provided by member on the collateral list and the adequacy of legal documentation included in the files. Communicate with members, as needed, to cure document and data deficiencies in a timely manner.
• Work with the collateral review staff after the review by finalizing required system adjustments, revised QCRs, approved/ineligible loans in the Bank's internal collateral database.
• Ensure the annual review of third-party security custodian's SOC 1 reports are completed and documented.
• Manage collateral transactions, including the addition or release of cash, securities, and/or loan collateral. Verify that the member has sufficient eligible collateral prior to the release of any collateral.
• Test, implement and/or propose enhancements to systems or procedures.
• Attention to detail; must have a commitment to accuracy, striving for an error-free environment.
• Participate in collateral inventories and in-house collateral audits as necessary.
• Prepare reports on collateral as requested by the AVP/Member Collateral Risk, VP/ Member Collateral Management, and VP / Director, Collateral and AMA Risk Management. Ensure that quality customer service is provided to members, third party custodians, Federal Reserve Bank staff, corporate credit unions, Bank staff and management in an effective, professional, and courteous manner.
• Ensure that he/she receives training and takes initiative to practice current policies and procedures (as established by the Bank and the department) as well as current training initiatives within the Bank.
• Other duties as assigned.Knowledge/Skills
• Strong organizational and communications skills
• Excellent organizational and time management skills required as office time is limited.
• Ability to work well in a team environment
• Proficiency in Microsoft Excel and Microsoft Word required.
• Strong computer skills, especially in financial spreadsheet report preparation using Excel or SSRS Reports is a plus.
• Ability to work independently with minimal supervisory guidance, and to also work well on team-based projectsEducationA degree is preferred, with concentration in Business, Finance, or a related field or equivalent work experience.ExperienceGeneral understanding of standard mortgage loan documentation, loan underwriting, U.S. Government and Agency securities is strongly preferred. Prior experience in a financial or banking institution preferable.As an Equal Opportunity Employer, we strongly encourage applicants from every ethnicity, color, religion, gender, age, national origin, disability, veteran or parental status and sexual orientation.Nothing in this job description restricts management's right to assign or reassign duties and responsibilities to this job at any time.
  #J-18808-Ljbffr

Keywords: RPMGlobal, Boston , Collateral Analyst, Accounting, Auditing , Boston, Massachusetts