Loan Administration Specialist

1 day ago

Jersey City, New Jersey, United States WSN Full time
Job Title: Loan Administration Specialist

WSN is seeking a highly skilled Loan Administration Specialist to join our team. The successful candidate will be responsible for ensuring accurate and timely administration of the Bank's loan portfolio, ensuring daily activities comply with state and federal laws, regulations, and Bank lending policies and procedures.

The Loan Administration Specialist will assist in all phases of new Agency deal closing process, providing expertise and guidance during pre-closing meetings, reviewing and providing comments on credit agreement and other closing documentation, coordinating funds flow, fee allocations, and disbursement of funds and lender notification.

The ideal candidate will have five years or more of loan product experience as an Administrative Agent, with experience with loan operating systems, ACBS, LoanIQ, and specialized lending products such as Asset Securitization, Leasing, Collateralized Loan Obligations, Project Finance, Loan Trading, and Credit Derivatives.

Responsibilities:

  • Act as bank LAU representative in coordinating transactions between customers, Agent Banks, Participant banks, Front office, Americas Treasury Division (ATD), and other parties.
  • Manage the administrative aspect of all New Deal Closings, calculating, invoicing, and disbursing all deal-related fees, coordinating movement of funds related to initial funding and closing, working closely with Borrower and Bank Group.
  • Report to Management, Supervisors, and Account Officer all transactions that require special handling or approval.
  • Credit Arrangement Maintenance.
  • Independently manage administrative processes for complex loan deals as administrative agent, bilateral lender.
  • Provide consultative support to Account Officers on operational deal structure issues.
  • Review Document and Term Sheet / CA Booking Request in order to compare loan documentation to Credit Approval and ensure that the structure and content are identical, and to create or maintain Accurate Credit Arrangements in ACBS.
  • Commercial Loan Maintenance.
  • Responsible for the daily maintenance of the commitment facilities, including monitoring borrowing status, preparing new borrowings, rollovers, rate sets, conversions, repayments, and prepayments.
  • Calculate, invoice, and disburse ongoing interest and fee payments from a Borrower and/or Lender perspective, including agency and amendment fees, as well as all monthly and/or quarter-end activity.
  • Maintaining and monitoring Fronting LC, Invoice Discounting, and Risk Participations.
  • Monitoring and distributing Financials when due.
  • Interact with Treasury on rate settings for foreign currencies and USD loans.
  • Responsible for verifying integrity of transaction.
  • Accountable for ongoing quality, integrity, and completion on all data.
  • Reconciliation.
  • Act as a trouble-shooter for deal management-related problems.
  • Communicate with Treasury to confirm discrepancies in funding rates.
  • Interact with customers for all cash movement activity.
  • Reconcile statement to ledger entries.
  • Skills: Five years or more of loan product experience as Administrative Agent, experience with loan operating systems, ACBS, LoanIQ, and specialized lending products such as Asset Securitization, Leasing, Collateralized Loan Obligations, Project Finance, Loan Trading, and Credit Derivatives.
  • Experience with compliance in a lending area.
  • Experience with collateral evaluation procedures.
  • Proficient in management of lending products.
  • Be thorough and accurate and demonstrate attention to details.
  • Competent written and oral communications skills.
  • Organizational skills and to work well under pressure.
  • Ability to identify and solve problems.
  • Knowledge of payment (FED, CHIPS, SWIFT).
  • ACBS knowledge is required.
  • Ideally a candidate that has worked in one of the major banks.

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