Loan Servicing Specialist at BCforward

Loan Servicing Specialist

BCforward is currently seeking a highly motivated Loan Servicing Specialist for an opportunity in Newark DE!

Position Title: [Loan Servicing Specialist]

Location: [Newark DE]

Anticipated Start Date: [2/6/2025]

Please note this is the target date and is subject to change. BCforward will send official notice ahead of a confirmed start date.

Expected Duration: [4 months, POTENTIAL FOR CONVERSION]

Job Type: [ON-SITE]

Pay Range: [28.00] - [$28.97/hr on w2]

Please note that actual compensation may vary within this range due to factors such as location, experience, and job responsibilities, and does not encompass additional non-standard compensation (e.g., benefits, paid time off, per diem, etc.).

Requirements:

Skills:

Wholesale Lending Services Job Title: Loan Servicing Specialist Unit: Wholesale Lending Services

Wholesale Lending Services: Wholesale Lending Services (WLS) is part of the Commercial Bank providing lending servicing support to multiple business units across the firm and around the world. The Operation provides loan documentation; closing and funding; payment and fee processing; syndication loan trade processing; credit administration; collateral perfection and management, customer service and reporting; and construction management. Position Summary: The Loan Servicing Specialist 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. 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, 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 Minimum Requirements: * 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 - Wholesale Lending Service

Skills:

Excel working knowledge, not necessarily advanced

Loan or any customer service experience would be preferred

Strong attention to details

Organizational skills

DisQualifier:

If the candidate is looking for a clearly front office role

Preferred edu: bachelor degree, if no degree financial experience

Grads are also welcome

* 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

Skills:

Minimum Requirements:* 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

Benefits:

BCforward offers all eligible employees a comprehensive benefits package including, but not limited to major medical, HSA, dental, vision, employer-provided group life, voluntary life insurance, short-term disability, long-term disability, and 401k.

Keywords:

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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 place to work.

BCforward is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, or protected veteran status and will not be discriminated against based on disability.

To learn more about how BCforward collects and uses personal information as part of the recruiting process, view our

and . As part of the recruitment process, we may ask for you to disclose and provide us with various categories of personal information, including identifiers, professional information, commercial information, education information, and other related information. BCforward will only use this information to complete the recruitment process.

This posting is not an offer of employment. All applicants applying for positions in the United States must be legally authorized to work in the United States. The submission of intentionally false or fraudulent information in response to this posting may render the applicant ineligible for the position. Any subsequent offer of employment will be considered employment at-will regardless of the anticipated assignment duration.

Interested candidates please send resume in Word format Please reference job code 234203 when responding to this ad.

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