What are the responsibilities and job description for the Loan specialist position at Kforce?
Kforce has a client that is seeking a Loan Processing Specialist in Newark, DE.Summary : The Loan Processing 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 the company 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
- 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
- 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
The pay range is the lowest to highest compensation we reasonably in good faith believe we would pay at posting for this role.
We may ultimately pay more or less than this range. Employee pay is based on factors like relevant education, qualifications, certifications, experience, skills, seniority, location, performance, union contract and business needs.
This range may be modified in the future.
We offer comprehensive benefits including medical / dental / vision insurance, HSA, FSA, 401(k), and life, disability & ADD insurance to eligible employees.
Salaried personnel receive paid time off. Hourly employees are not eligible for paid time off unless required by law. Hourly employees on a Service Contract Act project are eligible for paid sick leave.
Note : Pay is not considered compensation until it is earned, vested and determinable. The amount and availability of any compensation remains in Kforce's sole discretion unless and until paid and may be modified in its discretion consistent with the law.
This job is not eligible for bonuses, incentives or commissions.
Kforce is an Equal Opportunity / Affirmative Action Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, pregnancy, sexual orientation, gender identity, national origin, age, protected veteran status, or disability status.
Last updated : 2024-03-28
