Posted on: January 12, 2019
Primary Functional Area
Credit & Relationship Management
At CoBank the Collateral Auditor is responsible for monitoring collateral reporting associated with existing and new agribusiness loans. The position involves the measurement, verification and valuation of commodities and livestock in a wide range of agricultural industries. Conducts financial analysis to monitor compliance with loan agreement covenants. Prepares collateral audit reports summarizing findings, including borrowing base reporting exceptions and suggestions for correction and/or improved loan structuring/documentation and reporting. Assists in scheduling of on-site collateral audits with CoBank associates and third-party vendors, as required.
Essential Duties and Responsibilities:
- Conducts pre-closing and periodic follow-up collateral audits upon request by CoBank's relationship managers for customers with asset-based loan structures where CoBank is the sole lender.
- Prepares reports summarizing findings, including borrowing base reporting exceptions and suggestions for correction and/or improved interpretation and reporting.
- Conducts periodic (monthly) reconcilements of borrowing base reports (BBRs) submitted to ensure their accuracy. Performs this function by reconciling submitted BBRs, interim financial information and detailed general ledgers account information, and grain related accounting information. Prepares reports summarizing findings, including borrowing base reporting exceptions and suggestions for correction and/or improved interpretation and reporting.
- Interacts regularly with the bank's customers to constructively support their understanding of borrowing base report preparation to ensure its accuracy.
- Conducts/participates in collateral audits for multi-bank syndications. Develops and implements a credible collateral audit approach that is unique to each customer, yet encompasses the critical dimensions of auditing asset-based loan transactions.
- Bachelor's degree in business, ag-business, finance, accounting or other relevant discipline.
- Five (5) or more years of experience in the financial services or related industry; or an appropriate combination of education and experience.
- Master's degree, MBA and/or CPA designation preferred.
- Agricultural industry or agricultural lending experience strongly preferred.
- Field exam experience strongly preferred.
- Experience in collateral audit field exams preferred.
- Knowledge of CoBank specific industries (particularly agribusiness).
- Demonstrated knowledge of loan structuring, financial reporting, and financial analysis.
- Demonstrated experience in customer-based work within production agricultural and agribusiness fields.
- Knowledge and experience with stressed credits, such as: collateral risk, bankruptcy, debt restructurings, and creditors' rights.
- Demonstrated ability to identify key risks associated with collateral and financial reporting.
- Demonstrated business acumen, and organizational, analytical, decision making and problem solving skills.
- Excellent verbal and written communication, presentation and interpersonal skills, with the proven ability to apply and convey appropriate technical expertise.
- Strong customer focus, and the ability to develop and maintain effective customer relationships and working relationships with all levels of management and staff.
- Ability to work independently as well as collaboratively in a team environment.
- Knowledge of bank policies, guidelines, procedures, processes and documentation.
- Knowledge of Microsoft Office applications (Outlook, Word, PowerPoint and Excel), and the ability to use software tools for reporting writing, presentations and analysis.
- Extensive travel required (40-60%).
- Availability for work outside normal business hours.
CoBank stands strong as a $125 billion enterprise dedicated to the financial needs of rural communities. That means we help fund new ways to grow food, generate energy, access technology, and otherwise improve life in America. When you choose a career with us, you make a difference by standing for something that matters. A career at CoBank can offer you the opportunity to make a personal impact on the people and communities where we do business. We also provide competitive compensation, health and wellness benefits, company-funded retirement plan, matching 401(k), and professional development programs.
CoBank will not sponsor a work visa (e.g. H1B, etc.) to fill this position.
CoBank is an Equal Opportunity Employer.
Keywords: CoBank, Denver , Collateral Auditor, Accounting, Auditing , Denver, Colorado
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