Commercial Loan Clerk, Sr. jobs in New Jersey

Our client is a leading financial institution committed to providing exceptional service and innovative financial solutions to their clients. They are currently looking for a dedicated and detail-oriented Commercial Loan Servicing Specialist to join their dynamic team. This role is pivotal in ensuring the smooth management and servicing of their commercial loan portfolio.

Job Summary:

The Commercial Loan Servicing Specialist is responsible for the administration and management of a portfolio of commercial loans. This role involves coordinating with borrowers, internal departments, and external partners to ensure accurate and timely servicing of loans. Key duties include loan setup, processing payments, managing escrow accounts, and ensuring compliance with regulatory requirements.

Requirements:

• Review, verify, and authorize daily loan transactions to ensure accuracy and compliance.
• Analyze and reconcile fee and interest accruals to maintain financial accuracy.
• Manage the booking of various loan types, including Commercial Paper, Non-performing loans, and Direct/Agented facilities.
• Prepare and send activity notices to participants and customers for loan confirmation via fax.
• Prepare and review loan forms related to new borrowings, increases, rollovers, pay-downs, commitment reductions, etc., ensuring accuracy before obtaining loan officer approval signatures.
• Handle the daily transfer of loan proceeds to appropriate accounts.
• Prepare interest and fee billings for all direct/agented loans, bill customers, and distribute pro-rata shares to participants.
• Book risk participation sold and manage related transactions.
• Process interest and commitment fees, investigating discrepancies as necessary.
• Prepare and post General Ledger (GL) entries as required to ensure accurate financial reporting.
• Review various system-generated reports to monitor and ensure proper management of loan facilities.
• Reconcile open cash, manage suspense accounts, and process past due items to maintain financial integrity.
• Proficient in Loan IQ
• Knowledge of loan products, principles of cash payments in USD and foreign currencies.
• Strong working knowledge of Excel

For more information on this role, or if you're looking for your next opportunity and/or looking to hire please reach out:

Jack Walsh | Associate Consultant | j.walsh@HamlynWilliams.com | 646-349-3225