The Specialized Loan Servicing Specialist administers daily servicing activities of the Specialized Loan Servicing and collaborate with team members and other Valley functional teams, along with a major third-party outsourcing relationship for syndication and participation servicing. Responsible for reviewing servicing of loan transactions where Valley serves as Agent Bank or another bank is agent; loans with multiple pricing options; and swapped loans, liaising with borrowers, investors, and Valley loan officers.
Expected work hours
40
Job Description
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.
Requirements
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.
Pay Range Information
Exact compensation may vary based on skills, experience, and location.
Salary Grade Minimum - Annual
$47,200.00
Salary Grade Maximum - Annual
$78,700.00
Salary Grade Minimum - Hourly
$22.69
Salary Grade Maximum - Hourly
$37.84
Seniority level
Mid-Senior level
Employment type
Full-time
Job function
Finance and Sales
Industries
Banking
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