What are the responsibilities and job description for the Processing Specialist position at BCForward?

Job Description

BC forward is currently seeking a highly motivated Processing Specialist for an opportunity in Newark, DE 19713 !

Job Title : Processing Specialist

Location : Newark, DE 19713

Duration : 6 months contract and Strong possibility for extension

Pay Rate : $28.50 / hr. on W2

Recent Graduates are open to apply

Job Description :

This position reviews and books revenue earned for Client’s syndicated loan products within the Wholesale Lending Services department. To properly book revenue the team must collect executed loan documentation, review and catalogue the deal setup within the loan database, create a fee write-up presenting a booking decision in line with JPM’s accounting policy, book the revenue within loan database, and share the booking decisions with the Financial / Product Controllers of the LOB the income is being booked to.

Essential Responsibilities :

Validate Client’s loan origination fees related to Investment Bank / Commercial Bank / Asset-Based Lending / Private Bank & Dealer Commercial Services (Retail) deals. Fees are validated based on the calculations in executed legal documentation and the firm's Accounting Policy.

On fully syndicated deals, calculate Client’s syndication fees in relation to the fees paid to the retail lenders.

Prepare detailed fee write-up for Financial Controllers on complex fees or JP Morgan fee revenue in excess of $3MM. Work with Controllers to determine the proper recognition of fees paid to JP Morgan.

Prepare fee templates to reflect loan database booking decisions for audit purposes.

Monitor and balance fees held awaiting disposition. Substantiate all outstanding balances.

Be aware of and mitigate risk event possibilities. Ensure all outstanding fees are booked in the accounting systems in the correct month.

Ensure all prior month adjustments as relates to fees are accounted for in SAP by EOD on BD4.

Prepare and distribute daily, weekly and monthly metric reports related to fees paid to JP Morgan. These reports detail information on fees paid pending processing, documentation turnaround time, fees booked, processing times and reasons for delay.

Facilitate weekly metric conference calls with Financial Controllers, Business Representatives, Management, Deal Closers and Middle Office to discuss pipeline fees and documentation status.

Minimum Requirements :

Undergraduate degree is strongly preferred, but related job and industry experience can be accepted as a substitute. (2 years)

Must be highly organized with the ability to complete a variety of tasks and report outstanding uncompleted tasks within a short timeframe.

Experience reading and interpreting loan documentation or related experience dealing with legal documentation.

Must be a team-oriented individual.

Excellent communications skills (oral and written)

Analytical mentality, strong problem solving and judgement skills

General accounting knowledge (US GAAP)

Solid working knowledge of Microsoft Office (Excel, Word, Outlook, and PowerPoint)

Company Description

About BCforward :

Founded in 1998 on the idea that industry leaders needed a professional service, and workforce management expert, to fuel the development and execution of core business and technology strategies, BCforward is a Black-owned firm providing unique solutions supporting value capture and digital product delivery needs for organizations around the world. Headquartered in Indianapolis, IN with an Offshore Development Center in Hyderabad, India, BCforward’s 6,000 consultants support more than 225 clients globally.

BCforward champions the power of human potential to help companies transform, accelerate, and scale. Guided by our core values of People-Centric, Optimism, Excellence, Diversity, and Accountability, our professionals have helped our clients achieve their strategic goals for more than 25 years. Our strong culture and clear values have enabled BCforward to become a market leader and best in class places to work.

BCforward is an equal opportunity employer.

Company Description

About BCforward : Founded in 1998 on the idea that industry leaders needed a professional service, and workforce management expert, to fuel the development and execution of core business and technology strategies, BCforward is a Black-owned firm providing unique solutions supporting value capture and digital product delivery needs for organizations around the world. Headquartered in Indianapolis, IN with an Offshore Development Center in Hyderabad, India, BCforward’s 6,000 consultants support more than 225 clients globally. BCforward champions the power of human potential to help companies transform, accelerate, and scale. Guided by our core values of People-Centric, Optimism, Excellence, Diversity, and Accountability, our professionals have helped our clients achieve their strategic goals for more than 25 years. Our strong culture and clear values have enabled BCforward to become a market leader and best in class places to work. BCforward is an equal opportunity employer.

Salary : $29

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