AllSTEM Connections is currently hiring a Loan servicing specialist for one of our clients in the banking Industry.

Duration: 1 Month (Manager reviews and extends the contract every month and potential right to hire)

Location: Newark, DE (Hybrid 2 days in office)

Pay rate: $30/hr

Job Description

The Loan Servicing Specialist supports the largest and most sophisticated corporate loan transactions in the market. 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, repricing, 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

Apply for this great opportunity today!!!