Loan Servicing Specialist

AllSTEM Connections is currently hiring a Loan servicing specialist for one of our clients in the banking Industry.

Duration : 1 Month (Manager reviews and extends the contract every month and potential right to hire)

Location : Newark, DE (Hybrid 2 days in office)

Pay rate : $30 / hr

Job Description

The Loan Servicing Specialist supports the largest and most sophisticated corporate loan transactions in the market. This position is responsible for providing loan servicing / administrative support (reconciliation / billing / payments) and has direct communication with borrowers, lenders and business partners.

Essential Responsibilities :

• Initiate loan activity (fundings, repricing, 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

Minimum Requirements :

Apply for this great opportunity today!!!

Salary : $30