Associate

Sumitomo Mitsui Trust Bank, Limited; New York; Hybrid; USD 60,000 - 70,000; Full time

Job summary

Sumitomo Mitsui Trust Bank, Limited seeks an Associate in Loan Operations in New York. This regular full-time role requires at least 2 years of bank loan ops experience, including bilateral/syndicated loans, and proficiency with Loan IQ and MS Office. The job is in NYC with a hybrid schedule (in-office at least 2 days/week).

Open to non-officer level candidates; salary range listed from $60,000 to $70,000 annually. Strong accounting basics and punctual work habits are expected.

Qualifications

• Must have Loan IQ experience.
• 2+ years of experience in loan operations in a bank.
• Bilateral loans and syndicated loans experience required; agency deal experience desirable.
• Basic accounting knowledge and good mathematical aptitude.
• Proficiency with PC applications including Outlook, Word and Excel.
• Good time management, including punctuality and attendance.

Responsibilities

• Capture credit related transactions and payments in ATLAS, Loan Management and Loan IQ; maintain ledgers and files per policy.
• Handle loan administrative work (funding, information sheets, processing payments) per instructions from agents/front office.
• Process non-routine loan activities (purchases, refinancing, amendments, termination, sale) and set up new customers/facilities in systems.
• Monitor and apply incoming fees and interest; investigate cash discrepancies; follow up on reconciliations.
• Ensure cash movements are recorded on Cash Position Sheet and reported to relevant departments; perform daily nostro reconciliation.
• Prepare information sheets, tickets and confirmations for DOM or JCF transactions as needed.
• Handle back-office operations for bonds (capture, buy/sell, payments, funding).
• Prepare reports for supervisors; report irregularities to management; perform other duties.

Skills

Loan operations

Attention to detail

Time management

Excel

Education

High school diploma

Tools

ATLAS

Loantel/Nicotel

Loan IQ

Outlook

Word

Excel

Job description

If you are unable to complete this application due to a disability, contact this employer to ask for an accommodation or an alternative application process.

Associate

LOAN OPERATIONS Regular Full-Time N New York, New York, NY, US

3 days ago Requisition ID: 1695

Salary Range: $60,000.00 To $70,000.00 Annually

This role is located in New York City and will require a hybrid work schedule of at least 2 days in office per week.

This role is open to Non-Officer level candidates.

About the Bank

Sumitomo Mitsui Trust Bank, Limited was established through the merger of The Sumitomo Trust and Banking Co., Ltd with Chuo Mitsui Trust and Banking, Ltd. on April 1, 2012. We are one of the largest asset managers in Asia and number one among Japanese financial institutions by AUM, with approximately $850 Billion USD in AUM. The Bank provides an assortment of financial solutions and manages a broad spectrum of financial products across its global branches.

Department Overview:

The Americas Division (“AD”) was established in the Sumitomo Mitsui Trust Bank, Limited, New York Branch) (“SMTBNY”) to perform corporate functions and supervise U.S. entities. Established under the AD are the “Global Banking Unit (“GBU”), Americas Division” and “Global Markets Unit (“GMU”), Americas Division” which performs business functions. Acting as back office to the Branch’s Global Banking Unit, Loan Operations Department (“LOP”) is responsible for performing operational and administrative duties for booking and maintaining a wide range of credit-based products upon closing and throughout the life of transactions. The Department also provides certain check and balance points.

Your Overview:

Follows established guidelines for day-to-day, routine operational and administrative work. May be required to use some independent thought to handle complex issues. Focus on execution within defined parameters, some expansion based on developing capabilities or experiences in conjunction with experienced staff.

Your Duties and Responsibilities:

• Captures credit related transactions and payments in ATLAS, Loan Management and Loan IQ. Maintains operational ledgers and files of various forms in accordance with the Bank’s policy.
• Handles loan administrative work (funding arrangement, preparing Information Sheets, processing payment, etc.) based on the instructions received from agent banks and/or Lending front office on routine matter s . Verifies that th ese instructions are in compliance with the terms set by the binding agreement.
• Processes assigned non-routine loan activities such as purchases, refinancing, amendment, termination and sale. Establishes new customers and facilities in Loantel/Nicotel, ATLAS, and Loan Management and Loan IQ Systems, as necessary.
• Monitors and applies incoming fee s and interest payments . Investigates cash discrepancies associated with the responsible accounts. Claims compensation when necessary and follows up on reconcilement file.
• Ensures that all cash movements are properly recorded on Cash Position Sheet and reported to Funds Transfer and other relevant departments according to the procedure. Conducts daily nostro reconcilement.
• Prepares various Information Sheets, tickets and confirmation forms for DOM or JCF transactions based on written instructions once deal is established.
• Handles back-office operations for bonds acquired by Lending Group. This includes: capturing new bond products in Loantel, Nicotel and ATLAS systems, processing purchase, sale, redemption and coupon payments as well as timely funding of floating bonds.
• Prepares various reports as requested by the supervisors.
• Reports irregularities to the Supervisor(s) and/or Department Manager on a timely basis.
• Performs other duties and responsibilities as assigned by management.

Your Qualifications:

• High school diploma.
• Must have Loan IQ experience
• 2+ years of experience in loan operations in a bank. Bilateral loans and syndicated loans experience are required. Agency deal experience is highly desirable.
• Basic accounting knowledge and good mathematical aptitude.
• Proficiency with PC in business-related applications, at least for Microsoft Outlook Email and Calendar, Word, and Excel.
• Good time management, including punctuality and attendance.

Why you should join SuMi Trust:

SuMi Trust embraces flexible ways of working when the business and role permits. We provide employees with a hybrid working model, allowing for in-office work and work from home. Our diverse and inclusive environment along with our global presence enables us to collaborate and communicate to meet our business needs. We believe that efficient teams need truth, loyalty, and a strong sense of purpose to balance risk and their targets. We make sustainable business decisions to improve our society and the world. We believe that each person brings a unique value that drives the business though their creativity and passion.

The Employee Benefits package includes: Paid Time Off, medical, HSA, vision, dental, FSA, 401(k), profit sharing, legal plan, cancer indemnity plan, disability insurance, life insurance, employee assistance program, commuter benefits, business travel accident, paid volunteer day, paid memberships, paid seminars, and tuition assistance.

We offer many socialization opportunities for wellness, financial wellbeing, runs/walks, team building, happy hours, and activities to support the Sustainable Developmental Goals.

Check out our LinkedIn for our employee experience: https://www.linkedin.com/company/smtbny

We are an equal employment opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, national origin, disability status, protected veteran status or any other characteristic protected by law. SuMi Trust provides reasonable accommodations for employees and applicants with disabilities consistent with applicable law. If you need a reasonable accommodation during the application process, please let us know when the Human Resources staff reaches out to you for an interview.

The anticipated salary range for this role is listed above. The specific salary offered to an employment applicant is based on the individual’s qualifications, experiences, the job responsibilities, an analysis of the current compensation paid for similar roles in the local geographic area, and key distinctions of the job as compared to current jobs in the Branch. The role may also be eligible for an annual discretionary bonus.