Associate Collateral Support Specialist

at  Live Oak Bank

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 responsible for creating, reviewing, updating, tracking, and releasing collateral records for loan originations, loan modifications, and loan payoffs. This includes tracking and continuing UCC filings, releasing various types of collateral after a loan is paid in full, creating or updating collateral records with data from third-party reports, and providing overall quality assurance for Live Oak’s collateral data. This role will collaborate with commercial lending teams throughout Live Oak in a timely manner while maintaining accurate documentation and efficient processes.

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 Closing, Servicing, Modification, OSS, Loan Operations, Construction, Credit, 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 addresses in collateral records for loans with multiple locations.
• Assist the Credit Team with monitoring LTV calculations and exceptions.
• Create PMSI UCC collateral records for construction loans.
• Assist with the Consilio Collateral migration project and evaluate the quality of collateral records migrated to the current system of record.
• 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 1-2 years of legal experience is preferred.
• Minimum of 1-2 years of Commercial, Transactional, or Banking experience is preferred.
• Experience with SBA loans, corporate documentation, title, leases, contracts, 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 PowerPoint)
• Critical, strategic, and analytical thinking skills
• Highly proficient computer, internet, and electronic research skills
• Very detail-oriented with strong organizational 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/
Live Oak Bank is an Affirmative Action and Equal Opportunity Employer, Minorities/Women/Veterans/Disabled. We consider applicants for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, genetic information, veteran status or disability. Equal access to programs, service and employment is available to all persons. Those applicants requiring reasonable accommodation to the application and/or interview process should notify human resources at
careers@liveoak.bank
EEO is the Law
Commitment to Diversity
Live Oak Bank is committed to creating and maintaining a workplace in which all employees have an opportunity to participate and contribute to the success of the business and are valued for their skills, experience, and unique perspectives. This commitment is embodied in company policy and the way we do business at Live Oak Bank and is an important principle of sound business management.
The base pay range for this position is $19.23 - $31.25 per hour. Compensation may also include annual bonuses and long-term incentives, subject to various metrics and company policy. A candidate’s salary is determined by several factors including travel, relevant work experience or skills and expertise.
Please note that we provide at least the minimum requirement of paid sick leave to our employees who reside in states that require employer-paid sick leave, including but not limited to Arizona, California, Colorado, District of Columbia, Maine, Maryland, Massachusetts, Michigan, Nevada, New Jersey, New Mexico, New York, Oregon, Rhode Island, Vermont, and Washington

• 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 Closing, Servicing, Modification, OSS, Loan Operations, Construction, Credit, 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 addresses in collateral records for loans with multiple locations.
• Assist the Credit Team with monitoring LTV calculations and exceptions.
• Create PMSI UCC collateral records for construction loans.
• Assist with the Consilio Collateral migration project and evaluate the quality of collateral records migrated to the current system of record.
• 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