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Loan Servicer (Sr. Level) 7/31/17

Jersey City, NJ

Title: Loan Servicer (Sr. Level)
Location: Jersey City, NJ
Duration 6 months


Update from manager
This position is focused on the servicing of the loan (loan gets closed and then is transferred to servicing for the day to day operations of the loan).  Candidates need to come from a commercial banking environment and have knowledge in loan processing, credit agreement, booking of loans and loan reconciliations.   Titles used in other commercial banks could be Loan Administrator or  Deal Administrator.  Need to have experience with LoanIQ (processing/servicing the loan through LoanIQ) as a user.  LoanIQ experience doesn’t have to be recent but need to have experience with it for several years


 RESPONSIBILITIES
  •  Review, verify, and authorize daily loan transactions
  • Perform analysis and reconciliation of fee and interest accruals
  • Be responsible for booking loans including Money Market, Bid, Commercial Paper, Non-performing and Direct/Agented facilities
  • Prepare notices of activities to fax to all participants/customers for loan confirmation
  • Preparation/review of  loan forms related to booking of new borrowings, increases, rollovers, pay-downs, commitment reductions, etc., prior to obtaining loan officer approval signatures
  • Responsible for the daily transfer of  loan proceeds
  • Prepare interest and fee billings on all direct/agented loans, billing the customers and send pro-rata shares to the participants
  • Booking of risk participation’s sold
  • Process interest, commitment fees and investigate discrepancies when necessary
  • Preparation/posting of GL entries as required
  • Review various system generated reports to ensure proper monitoring of the facilities.
  • Reconciliation of various Suspense and DDA Accounts
TECHNICAL SKILLS
Required/Must have:
  • Proficient in Loan IQ
  • Knows the loan products, principles of cash payments in USD and foreign currencies.
  • Strong working knowledge of Excel
COMPETENCIES
Required/Must have:
  • Strong analytical skills
  • Attention to detail and accuracy
Ø     Strong written and verbal communication skills
  • Ability to work in an independent fashion
  • Self-confidence
  • Strong time management/organizational skills
  • Team player
Desired/Plus:
Fluency in French  
 
PRIOR WORK EXPERIENCE
Required/Must have:

Minimum 5 years prior experience in Commercial Lending using the LoanIQ application
Demonstrated exposure in supporting variety of portfolios (both as participant and agent)

Knowledge of Financial Products (Especially Loans, Guarantee and Stand by Letter of Credit etc.).
 
Desired/Plus:

International banking experience
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