Loan Servicing Specialist
3 days ago
Cerberus Capital Management, L.P. is seeking a highly skilled Loan Servicing Associate to join our team in the loan servicing department within the broader operations group.
Job Summary:This role is responsible for servicing broadly syndicated loans, communicating with borrowers, participating lenders, and deal professionals, and processing all life-cycle activity of loans and related securities.
Key Responsibilities:- Service broadly syndicated loans with up to 50 different lenders
- Communicate effectively with borrowers, participating lenders, and deal professionals
- Process all life-cycle activity of loans and related securities, including booking new transactions, principal payments, interest rollovers, and reading and understanding credit agreements and ancillary legal documentation
- Work with multiple fund administrators to reconcile positions, P&L, and cash breaks
- Perform daily book vs broker cash reconciliation in the Intellimatch system
- Work with Borrowers and deal professionals for daily Revolver activity
- Input wires for loan settlement onto Kyriba treasury system in a timely manner
- Compute IRR calculations
- Work closely with deal professionals, auditors, borrowers, lenders, participants, trustees, legal teams, tax, treasury, and accounting and our leverage finance teams to provide highest standards of service through the full lifecycle of the security
- Analyze P&L, including realized and unrealized calculation, calculating FX P&L on foreign securities, interest accrual calculations, and cost relief analysis
- Coordinate closing flow of funds, making sure there is available cash by fund for settlement and working with treasury to make sure all wires are executed
- 1-5 years' experience in Loan Operations and/or Accounting using Wall Street Office
- Familiar with WSO Administrator/Agent, VPM, SAP-Business Objects is a plus
- Excellent communications skills both verbal and written are needed as well as strong problem-solving skills
- Attention to detail, organized, strong Excel skills, use of vlookups, if statements, and pivots
- Can operate in a fast-paced environment and is open-minded to help improve processes
- Strong background and work experience in middle market lending environment
- Understanding of pro-rata, weighted average cost of paydowns
- Understanding P&L, Economic Benefit, Delayed Comp Fees, Par vs. Distressed Loans, PIK loans
- Understanding of loan accounting in accordance with GAAP
The base salary for this position is expected to be between $90,000.00 and $100,000.00. The base salary offered to the chosen candidate will be commensurate with a candidate's relevant experience and other qualifications for the position, as determined by the Company in its sole discretion. In addition to base salary, this position is eligible for an annual discretionary bonus, which is often a meaningful portion of the compensation package, and a robust benefits package.
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