Insight Global Hiring for Commercial Loan Servicing Analyst at Wayne, New Jersey Full Time

Job Description

A large commercial and retail bank is looking for a Commercial Loan Servicing Analyst to join the Specialized Commercial Lending group. The goal of this role is to administer daily servicing activities of the Specialized Loan Servicing team, collaborate with team members and other functional teams, along with a major third-party outsourcing relationship for syndication and participation servicing. Coordinate swap payments for customers and dealers. Responsible for managing servicing of loan transactions where the bank serves as Agent Bank; Loan Participations Sold; and Loans with multiple pricing options; and swapped loans, liaising with borrowers, investors, and loan officers.

Responsibilities:

• Coordinate with internal and external third-party resources in performing the day-to-day operations of loan and agency servicing, participations servicing, and/or swap loan servicing for the bank’s portfolio.

• Ensure assigned specialized loans are serviced properly and efficiently through diligent monitoring of requests and strict adherence to procedures.

• Reflect payments (principal, interest, escrow, sinking fund) accurately and efficiently in the loan system.

• Process new drawdowns, paydowns, and letter-of-credit activities for syndicated loan transactions. Process includes both loan system and reconciliation to 3rd party vendor.

• Perform quality control functions and assist with reconciliations of loan system to 3rd party vendor.

• When required, administer assigned new deals by structuring them appropriately and booking them properly in the systems.

• Act as liaison to borrowers and participant bank representatives for syndicated loans, and all loan participations sold by providing service in a professional, efficient, and accurate manner.

• Ensure all monies due and payable to the bank are collected and/or reconciled, and all past-due principal interest and fees are reported, followed up on, and ultimately collected.

• Coordinate and reconcile swap payments with customers and dealers.

• Field and resolve requests from business line regarding swap payments and related loan payments.

• Where applicable, contribute to the maintenance of existing procedures and the establishment of new procedures, as required with new products and the transformation of systems infrastructure.

Skills and Requirements

• Extensive knowledge of the commercial lending business, credit and loan documentation and terminology, banking terminology, regulatory requirements, and credit risk management

• Experienced in commercial loan servicing, loan accounting, knowledge and grasp of credit agreements

• Firm grasp of the differences between Commitments, Outstandings, Pro-Rata Calculations, Availability, Used vs. Unused Fees, etc.

• Comprehension of the difference between Participations and Syndications

• Basic PC skills including general understanding of databases; highly experienced with Excel

• Bachelor’s degree, preferably in Finance, Business Administration, or Accounting) and minimum of 7 year’s Banking experience in Commercial Lending/Loan operations; OR High School Diploma/GED and min of 10 yrs’ Banking experience in Commercial Loan Operations – Understanding of the core banking software i.e. IBS Insight a plus”’

We are a company committed to creating diverse and inclusive environments where people can bring their full, authentic selves to work every day. We are an equal employment opportunity/affirmative action employer that believes everyone matters. Qualified candidates will receive consideration for employment without regard to race, color, ethnicity, religion,sex (including pregnancy), sexual orientation, gender identity and expression, marital status, national origin, ancestry, genetic factors, age, disability, protected veteran status, military oruniformed service member status, or any other status or characteristic protected by applicable laws, regulations, andordinances. If you need assistance and/or a reasonable accommodation due to a disability during the application or the recruiting process, please send a request to [email protected].”’