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Loan Servicing Associate

at Kforce in Newark, Delaware, United States

Job Description

Kforce has a client in Newark, DE that is seeking a Loan Servicing Associate.Summary:The Loan Servicing Associate supports the largest and most sophisticated corporate loan transactions in the market. They primarily provide operational support to Debt Capital Markets on Term Loan B/institutional debt where is the administrative agent. The Loan Servicing Associate is responsible for providing loan servicing/administrative support (reconciliation/billing/payments) and has direct communication with borrowers, lenders and business partners. Responsibilities:

  • Initiate loan activity (fundings, repricings, payments) as instructed by the client in accordance with credit agreements
  • Calculation and tracking of complex interest and fee accruals at various rate levels across changing lender distributions
  • Reconcile daily funding and payment activity to account for all daily cash transactions
  • Read and interpret complex legal credit agreements and related documentation working with attorneys when applicable
  • Initiate and reconcile automated funds movement in accordance with client/lender instructions
  • Monitor and escalate past due principal, interest, and fees to ensure that the loan accounting system is accurate and provide clients timely and accurate invoices
  • Maintenance of margin changes and proper communication to bank group
  • Provide information as requested by Clients, Business Partners, Middle Office, or Lenders
  • Monitor control reports updating applicable comments
  • Assist with any administrative tasks associated with the terms of a Credit Agreement
  • Perform quality control on new deals, restructures and amendments by thoroughly understanding the credit agreement verifying system set up accuracy
  • Back up co-workers, work with various special projects or other tasks as assigned
  • Undergraduate degree is strongly preferred but related job and industry experience can be accepted as a substitute (3 years)
  • Solid working knowledge of Microsoft Office applications (i.e. Excel, Word and PowerPoint)
  • Must have experience reading and interpreting syndicated loan documentation or related experience supporting syndicated loans and using LoanIQ
  • Ability to manage concurrent assignments in an effective, efficient and organized manner
  • Ability to work independently within a team environment
  • Excellent oral and written communications skills and strong interpersonal/client servicing skills
  • Strong interpersonal/client servicing skills
  • Strong analytical, problem solving and judgment skills
  • Flexible working schedule with some overtime required

Kforce is an Equal Opportunity/Affirmative Action Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, pregnancy, sexual orientation, gender identity, national origin, age, protected veteran status, or disability status.Compensation Type:Hours

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Job Posting: JC225052346

Posted On: Sep 30, 2022

Updated On: Oct 16, 2022