First Merchants Bank is seeking a Collateral Analyst to join our team! This position will perform collateral monitoring tasks, and operational tasks while assisting with the timely and accurate risk grading of the commercial banking portfolio.
As part of this role you will:
- Complete accurate, unbiased collateral analyses within required timelines and according to standards.
- Complete collateral monitoring functions for designated portfolio including:
- Review of borrowing base requirements detailed within the Credit Decision Summary prior to or commensurate with loan closing.
- Provide the Commercial Lending Team with borrowing base templates for Client use with on-going monitoring requirements as approved in the CDS and documented in the credit agreement.
- Establish and maintain Client profiles within the borrowing base monitoring software.
- Confirm appropriate ticklers are set up within the Bank’s core system for monitoring the receipt of required financial reporting documents for borrowing base reporting.
- Assist the Commercial Lending Team with the collection of necessary Financial Reporting Documents for the completion of borrowing base testing.
- Ensure the timely and accurate filing of all borrowing base reports and supporting documentation in the bank’s imaging system.
- Assist the Client and Commercial Lending Team with modifications to borrowing base submission and reporting process to ensure compliance detailed within the credit agreement.
- Validate the calculation of eligible collateral related to borrowing base reporting by analyzing accounts receivable agings, accounts payable agings, perpetual inventory reports, and other supplied information as appropriate.
- Identify and communicate deteriorating liquidity and over-advance issues found during borrowing base testing to department management.
- Update borrower loan availability in Bank’s core system.
- Interface with clients as needed for questions and resolution of issues on draws and availability.
- Maintain the Regional Borrowing Base Utilization Report.
- Provide collateral trend reporting and analysis as requested.
- Review real estate appraisals and evaluations as needed.
- Reconcile borrowing base to credit agreement.
- Attend and participate in loan committees as requested.
In order to be successful, we require the following:
- Bachelor’s degree (or completion within current semester)
The following would be a plus:
- Bachelor’s degree in accounting, finance, or business.
- Prior Asset Based Lending or Collateral Monitoring experience
- Proficient use of MS Office products including Word, Outlook and Excel.
- Adobe Acrobat experience and the ability to learn job-related software.
First Merchants offers the following:
- Base Pay PLUS Bonuses
- Medical, Dental and Vision Insurance
- 401k
- Health Savings and Flexible Spending Accounts
- Vacation/Sick Time
- Paid Holidays
- Paid Parental Leave
- Tuition Reimbursement
- Additional Benefits
A little about us:
First Merchants is guided by a genuine philosophy of being a meaningful place to work and having a prosperous impact across all walks of life throughout the communities we serve, including consumers, businesses and other organizations. Our Vision, Mission and Team statement reflect and reinforce that authentic service philosophy.
Our Vision is:
To enhance the financial wellness of the diverse communities we serve.
Our Mission is:
To be the most responsive, knowledgeable, and high-performing financial organization for our clients, teammates, and shareholders.
Our Team:
"We are a collection of dynamic colleagues with diverse experiences and perspectives who share a passion for positively impacting lives. We are genuinely committed to attracting and engaging teammates of diverse backgrounds. We believe in the power of inclusion and belonging."
Apply today to begin your career with us!
Equal Opportunity Employer/Protected Veterans/Individuals with DisabilitiesThis employer is required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights notice from the Department of Labor.
Skills Required
- Bachelor's degree
- Prior Asset Based Lending or Collateral Monitoring experience
- Proficient use of MS Office products including Word, Outlook and Excel
- Adobe Acrobat experience
First Merchants Corporation Compensation & Benefits Highlights
The following summarizes recurring compensation and benefits themes identified from responses generated by popular LLMs to common candidate questions about First Merchants Corporation and has not been reviewed or approved by First Merchants Corporation.
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Retirement Support — Retirement programs include a 401(k) with employer match and an employee stock purchase plan that are presented as meaningful components of total rewards. These elements are highlighted as strengths relative to other benefit components.
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Leave & Time Off Breadth — Time-off provisions include PTO, bank holidays, bereavement, paid parental leave, and paid volunteer time. These elements can help offset concerns about base pay in some roles.
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Parental & Family Support — Paid parental leave is explicitly offered and positioned alongside PTO and holidays to support family needs. This support contributes to a more balanced work–life setup.
First Merchants Corporation Insights
What We Do
First Merchants Corporation is the largest financial services holding company in Central Indiana, headquartered in Muncie, Indiana. The Corporation has one full-service bank charter, First Merchants Bank. The Bank also operates as First Merchants Private Wealth Advisors (as a division of First Merchants Bank). First Merchants Corporation’s common stock is traded on the NASDAQ Global Select Market System under the symbol FRME. First Merchants offers customers broad financial services throughout locations in Indiana, Ohio, Illinois and Michigan providing: • Commercial Banking (business) – checking, treasury management, card services, financing, loans, electronic banking, online and mobile banking. • Personal Banking (consumer) – checking, savings, CDs, mortgages, loans, IRAs, HSAs, online and mobile banking. • Private Wealth Advisors - trusts, investments, 401(k) plans, 403(b) plans, profit sharing plans, pension plans, cross-tested plans, cash balance plans, Flexible Spending Accounts, IRAs, SEP IRAs, and succession planning. First Merchants is committed to customers by: • Developing strong relationships. o As financial advisors – our professionals listen and provide solutions o The tenure of our professionals averages eight years, meaning you will enjoy continuity of service o We hire local professionals from the communities we serve • Customers benefit from local decision making. o Decisions are made faster o The process is streamlined, with each customer having a single point of contact. o Our financial professionals are empowered to develop tailored solutions. • The local communities we serve benefit from First Merchants’ involvement and support.
