Bank Loan Servicing, Officer

State Street; Chicago (IL); On-site; USD 60,000 - 101,250; Full time

Benefits offered by this job

Generous medical care

401K with company match

Paid time off including vacation

Job summary

State Street in Chicago is seeking a candidate to service bank loans while ensuring thorough record keeping and daily reconciliation. This role emphasizes critical thinking, problem-solving, and collaboration within a team.

The successful candidate will assist in managing portfolios for clients and produce necessary reports. Strong interpersonal skills and ethical decision-making are essential.

Join us to make an impact in the financial services industry and benefit from our comprehensive benefits program.

Qualifications

• Deep understanding of servicing bank loan debt in complex fund structures.
• Ability to meet aggressive deadlines in a high-volume work environment.
• Strong ethical decision-making required.

Responsibilities

• Perform daily maintenance and record keeping for bank loans.
• Process new trades and trade settlements.
• Daily reconciliation of cash balances.
• Prepare reporting for internal and external customers.
• Interact with the Investment Manager on assigned portfolios.

Skills

Critical thinking

Client management

Problem solving

Interpersonal skills

Job description

Who we are looking for

This role requires a deep understanding of servicing bank loan debt held in complex global fund structures. The candidate should have a background in client management, strong critical thinking skills and an ability to meet aggressive deadlines in high volume work environment are essential.

Why this role is important to us

The team you will be joining plays an important role in the overall success of the organization. Across the globe, institutional investors rely on us to help them manage risk, respond to challenges, and drive performance and profitability. To make that happen we need teams like yours to help navigate employees and the organization as a whole. In your role you will strive for cutting‑edge solutions, that are straightforward and scalable. You will help us build resilience and execute day to day deliverables at our best.

Join us if making your mark in the financial services industry from day one is a challenge you are up for.

What you will be responsible for:

• Performing daily maintenance and record keeping for Syndicated Bank Loans held in various Mutual Fund and other Structured portfolios for various SSC clients.
• Processing new trades and trade settlements on accounting records
• Daily reconciliation of cash balances.
• Producing daily roll-forward proof of portfolio holdings and accrual information.
• Preparing standard and ad hoc reporting for both internal and external customers.
• Responding to customer queries on a daily basis.
• Daily processing of bank loan notices as received from agent banks
• Interact with the Investment Manager on their assigned portfolios, performing ad hoc requests and providing daily reporting per client specific guidelines
• The individual will work closely with their mutual fund counterpart, providing Loan related reports to be incorporated into the final NAV Calculation.
• During the course of normal day to day operation, be responsible for identifying any unusual or potentially suspicious transaction activity and must report and/or elevate in accordance with corporate policy and guidelines detailed in relevant operating procedures
• Other tasks as needed.

What we value

These skills will help you succeed in this role

• Strong critical thinking, problem solving, and decision making skills
• Strong interpersonal skills and ethical decision making
• Ability to work in a team environment with emphasis on collaboration with both clients and other internal service teams.

About State Street

State Street is one of the largest custodian banks, asset managers and asset intelligence companies in the world. From technology to product innovation, we’re making our mark on the financial services industry. For more than two centuries, we’ve been helping our clients safeguard and steward the investments of millions of people. We provide investment servicing, data & analytics, investment research & trading and investment management to institutional clients.

Work, Live and Grow

We make all efforts to create a great work environment. Our benefits packages are competitive and comprehensive. Details vary by location, but you may expect generous medical care, insurance and savings plans, among other perks. You’ll have access to flexible Work Programs to help you match your needs. And our wealth of development programs and educational support will help you reach your full potential.

Inclusion, Diversity and Social Responsibility.

We truly believe our employees’ diverse backgrounds, experiences and perspectives are a powerful contributor to creating an inclusive environment where everyone can thrive and reach their maximum potential while adding value to both our organization and our clients. We warmly welcome candidates of diverse origin, background, ability, age, sexual orientation, gender identity and personality. Another fundamental value at State Street is active engagement with our communities around the world, both as a partner and a leader. You will have tools to help balance your professional and personal life, paid volunteer days, matching gift programs and access to employee networks that help you stay connected to what matters to you.

State Street is an equal opportunity and affirmative action employer.

Discover more at StateStreet.com/careers

IT IS UNLAWFUL IN MASSACHUSETTS TO REQUIRE OR ADMINISTER A LIE DETECTOR TEST AS A CONDITION OF EMPLOYMENT OR CONTINUED EMPLOYMENT. AN EMPLOYER WHO VIOLATES THIS LAW SHALL BE SUBJECT TO CRIMINAL PENALTIES AND CIVIL LIABILITY.

Salary Range:

$60,000 - $101,250 Annual

The range quoted above applies to the role in the primary location specified. If the candidate would ultimately work outside of the primary location above, the applicable range could differ.

Employees are eligible to participate in State Street’s comprehensive benefits program, which includes our retirement savings plan (401K) with company match; insurance coverage including basic life, medical, dental, vision, long‑term disability, and other optional additional coverages; paid‑time off including vacation, sick leave, short‑term disability, and family care responsibilities; access to our Employee Assistance Program; incentive compensation including eligibility for annual performance‑based awards (excluding certain sales roles subject to sales incentive plans); and, eligibility for certain tax‑advantaged savings plans.

For a full overview, visit https://hrportal.ehr.com/statestreet/Home.

About State Street

Across the globe, institutional investors rely on us to help them manage risk, respond to challenges, and drive performance and profitability. We keep our clients at the heart of everything we do, and smart, engaged employees are essential to our continued success.

We are committed to fostering an environment where every employee feels valued and empowered to reach their full potential. As an essential partner in our shared success, you’ll benefit from inclusive development opportunities, flexible work‑life support, paid volunteer days, and vibrant employee networks that keep you connected to what matters most. Join us in shaping the future.

As an Equal Opportunity Employer, we consider all qualified applicants for all positions without regard to race, creed, color, religion, national origin, ancestry, ethnicity, age, disability, genetic information, sex, sexual orientation, gender identity or expression, citizenship, marital status, domestic partnership or civil union status, familial status, military and veteran status, and other characteristics protected by applicable law.

Discover more information on jobs at StateStreet.com/careers

Read our CEO Statement

IT IS UNLAWFUL IN MASSACHUSETTS TO REQUIRE OR ADMINISTER A LIE DETECTOR TEST AS A CONDITION OF EMPLOYMENT OR CONTINUED EMPLOYMENT. An employer who violates this law shall be subject to criminal penalties and civil liability.