Evaluates collateral through inventory system and on-site inspections. Makes recommendations for collateral enhancement to maximize return. Utilize industry benchmarks and inspection process to provide recommended sale prices. Represents M&T Bank at auctions of repossessed assets. Primary Responsibilities:
Scope of Responsibilities:
- Consistent inventory review of all auto ims update pertaining to secured collateral and in adherence to pre-sale inspection program.
- Complete daily inventory watch. As items clear for sale, preform due diligence in determining anticipated market price. Value decision based on industry benchmarks and overall condition.
- On-site inspection prior to sale date to validate condition report findings and collateral assessment. Evaluate market pricing for collateral and assign a floor price. Make adjustments to floor price as necessary.
- Reconcile expenses associated with repossession, transport and reconditioning of collateral.
- Represent M&T at auction of assets with authorization to sell collateral within $500 of approved pricing.
- Post unauctioned collateral online and set the floor within parameters; monitor sale activity and make sale decision.
- Assist in process of Business Banking Collections and Workout requests to include inspections, appraisals, repossessions, and monitoring of auctions.
- Maintain policy and procedures to remain compliant within business unit.
- Adhere to applicable compliance/operational risk controls in accordance with Company or regulatory standards and policies.
- Maintain M&T internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators as applicable.
- Promote an environment that supports diversity and reflects the M&T Bank brand.
- Complete other related duties as assigned.
- On site travel required 3-4 times per month for 2-3 days each on average.
Position interacts with vendors or business bankers.
This position also has repair authority up to $500.00. Education and Experience Required:
A combined 4 years' higher education and/or work experience, with a minimum of 2 years' experience in collections.
Proficient with computers and internet usage including word processing, spreadsheet and email software.
Strong verbal and written communication skills Education and Experience Preferred:
Knowledge of M&T Bank systems.Location
Getzville, New York, United States of America