Specialized Loan Servicing Specialist - Valley National Bank

Responsibilities include but are not limited to:


* Coordinate with internal and external third-party resources in performing the day-to-day operations of loan and agency servicing, participations servicing, and/or swap loan servicing for the bank's portfolio.
* Ensure assigned specialized loans are serviced properly and efficiently through diligent monitoring of requests and strict adherence to procedures.
* Reflect payments (principal, interest, escrow, sinking fund) accurately and efficiently in the loan system.
* Ensure appropriate offsetting GL entries are reflected in conjunction with all servicing transactions.
* Process new drawdowns, paydowns, and letter-of-credit activities for syndicated loan transactions. Process includes both loan system and reconciliation to 3rd party vendor.
* Perform quality control functions and assist with reconciliations of loan system to 3rd party vendor.
* Administer assigned deals by structuring them and booking them properly in the requisite systems.
* Act as liaison to borrowers and participant bank representatives for syndicated loans, and all loan participations sold by providing service in a professional, efficient, and accurate manner.
* Ensure all monies due and payable to the bank are collected and/or reconciled, and all past-due principal interest and fees are reported, followed up on, and ultimately collected.
* Field and resolve requests from business line regarding loan payments and, where applicable, related swap payments. and related loan payments.





Required Skills:


* Experienced in commercial loan servicing, loan accounting, knowledge and grasp of credit agreements.
* Firm grasp of the differences between Commitments, Outstandings, Pro-Rata Calculations, Availability, Used vs. Unused Fees, etc.
* Extensive knowledge of the commercial lending business, credit and loan documentation and terminology, banking terminology, regulatory requirements, and credit risk management.
* Comprehension of the difference between Participations and Syndications.
* Basic PC skills including general understanding of databases; highly experienced with Excel.
* Understanding of VNB's core banking software i.e. IBS Insight a plus.
* Strong oral and written communication skills and strong inter-personal skills to foster positive working relationships.

Required Experience:


* High School Diploma or GED.
* Minimum of 3 years of Banking experience in Commercial Lending/Loan operations.

Preferred Experience:


* Bachelor's degree, preferably in Finance, Business Administration, or Accounting.

Equal Opportunity Employer Minorities/Women/Protected Veterans/Disabled