WSN is seeking an Agency Loan Administrator to place with our client, a major investment bank located in NYC. No third parties please.
Job Description:
1. SUMMARY
The Loan Agency Consultant is responsible for ensuring accurate and timely administration / servicing of the Bank's loan portfolio; ensures daily activity comply with state and federal laws, regulations and Bank lending policies and procedures; ensures department activities run smoothly; and provides a high level of customer relations and service
Loan Agency Consultant will assist in all phases of new Agency deal closing process where the bank's role is as Administrative Agent or direct lender. This includes reviewing and providing comments on credit agreement and other closing documentation, coordinating funds flow, fee allocations and disbursement of funds and lender notification, and building deal in lending system. Attention to detail is imperative especially with complex transactions (i.e. Project Finance, Securitization, etc.).
Loan Agency Consultant will have exposure to and will handle various products such as ABL, equity fund finance and residential mortgage, as well as service Left Lead Institutional Term Loan B deals with frequent and multiple lender trades daily and/or weekly.
2. PRINCIPLE DUTIES AND RESPONSIBILITIES :
(1) General Duties
Act as LAU representative in coordinating transactions between customers, Agent Banks, Participant banks, Front office, Americas Treasury Division (ATD) and other parties
Manage the administrative aspect of all New Deal Closings
Calculating, invoicing and disbursing all deal related fees
Coordinating movement of funds related to initial funding and closing
Report to Management, Supervisors and Account Officer all transactions that require special handling or approval
Credit Arrangement Maintenance
Independently manage administrative processes for complex loan deals as administrative agent, bilateral lender
Provide consultative support to Account Officers on operational deal structure issues
Review and opine on Credit Agreement, Fee Letters and other loan documentation to ensure operational feasibility and create or maintain accurate facility set up in ACBS
Commercial Loan Maintenance
Responsible for the daily maintenance of the commitment facilities including: monitoring borrowing status, prepare new borrowings, rollovers, rate sets, conversions, repayments and prepayments.
Calculate, invoice and disburse ongoing interest and fee payments from a Borrower and/or Lender perspective. This includes agency and amendment fees as well as all monthly and/or quarter end activity.
Maintaining and monitoring Fronting LC and Risk Participations
Monitoring and distributing Financials when due
Interact with Treasury on rate settings for foreign currencies and USD loans
Responsible for verifying integrity of transaction
Accountable for ongoing quality, integrity and completion on all data
Reconciliation
Act as a trouble-shooter for deal management related problems
Communicate with treasury to confirm discrepancies in funding rates
Interact with customers for all cash movement activity
Reconcile statement to ledger entries
Others
Participate in various short-term projects to maintain data integrity
Maintain filing and billing
(2) Exception Duties (As requested by UH)
Perform periodic data integrity checks
Duties as assigned
Undertakes special projects, and assumes other duties, as assigned, completing such tasks on time.
(3) Compliance
Obtain a basic understanding of the applicable rules and regulations that govern the Bank. Understand that all questions and/or clarification about such rules and regulations should be directed to the Americas Legal and Compliance Division. Attend Annual Compliance Training presented by the Americas Legal and Compliance Division. Read and respond as necessary to all compliance-related reference and directive materials received. Comply with the Bank’s “Code of Conduct”.
Designated as person responsible for reporting potentially prohibited transaction(s) (OFAC related) upon detection.
3. QUALIFICATIONS:
Bachelor’s ideal but not required.
Experience from one of the major big banks preferred.
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