What are the responsibilities and job description for the Loan Servicing Associate I position at JPMorganChase?
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Job Summary:
As a Loan Servicing Associate in Structured - Loan and Agency Servicing, you will provide operational support for syndicated credit structures agented by JPMorgan or bilateral loans extended solely by JPMorgan. This client-facing role involves direct contact with borrowers, lenders, and business partners while performing various loan servicing facets.
Job Responsibilities:
- Initiate loan activity, including fundings, repricing, and payments, as instructed by the client in accordance with credit agreements.
- Track 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, collaborating 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 accurate loan accounting and provide clients with timely and accurate invoices.
- Perform maintenance of margin changes and ensure proper communication to the bank group.
- Provide information as requested by clients, business partners, middle office, or lenders.
- Monitor control reports and update applicable comments.
- Participate in system testing, as needed, which may occur during non-business hours.
- Assist with administrative tasks associated with the terms of a credit agreement, including performing quality control on new deals, restructures, and amendments by thoroughly understanding the credit agreement and verifying system setup accuracy.
Required Qualifications, Capabilities, and Skills:
- 1 year financial services or syndicated loan product experience.
- Extensive knowledge and familiarity with managing a portfolio.
- Excellent oral and written communication skills.
- Strong client-service background.
- Working knowledge of Microsoft Office applications (Excel, Word, PowerPoint).
- Ability to manage concurrent assignments.
- Ability to work independently and partner well within a team environment.
- Strong analytical, problem-solving, and proven decision-making skills.
- General to intermediate accounting knowledge.
Preferred Qualifications, Capabilities, and Skills:
- Undergraduate degree.
- Experience with reading and interpreting syndicated loan documentation or related experience dealing with legal documentation.
- Experience with large cash movements via FED Wire or SWIFT.
- LoanIQ experience.
We offer a competitive total rewards package including base salary determined based on the role, experience, skill set and location. Those in eligible roles may receive commission-based pay and/or discretionary incentive compensation, paid in the form of cash and/or forfeitable equity, awarded in recognition of individual achievements and contributions. We also offer a range of benefits and programs to meet employee needs, based on eligibility. These benefits include comprehensive health care coverage, on-site health and wellness centers, a retirement savings plan, backup childcare, tuition reimbursement, mental health support, financial coaching and more. Additional details about total compensation and benefits will be provided during the hiring process.
We recognize that our people are our strength and the diverse talents they bring to our global workforce are directly linked to our success. We are an equal opportunity employer and place a high value on diversity and inclusion at our company. We do not discriminate on the basis of any protected attribute, including race, religion, color, national origin, gender, sexual orientation, gender identity, gender expression, age, marital or veteran status, pregnancy or disability, or any other basis protected under applicable law. We also make reasonable accommodations for applicants’ and employees’ religious practices and beliefs, as well as mental health or physical disability needs. Visit our FAQs for more information about requesting an accommodation.
JPMorgan Chase & Co. is an Equal Opportunity Employer, including Disability/Veterans
ABOUT THE TEAM
J.P. Morgan’s Commercial & Investment Bank is a global leader across banking, markets, securities services and payments. Corporations, governments and institutions throughout the world entrust us with their business in more than 100 countries. The Commercial & Investment Bank provides strategic advice, raises capital, manages risk and extends liquidity in markets around the world.
