Loan Origination Associate

Testing Site - JPMC; Newark (DE); On-site; USD 65,000 - 85,000; Full time

Job summary

Testing Site - JPMC in Newark, DE seeks a Loan Servicing Associate to support large corporate loan transactions, providing loan servicing, reconciliation, billing and payments, with direct contact to borrowers, lenders and partners.

Responsibilities include initiating loan activity, calculating interest and fees, reconciling funding and payments, reading credit agreements, and coordinating with attorneys. Strong Excel and LoanIQ experience preferred; bachelor's degree or equivalent experience.

Qualifications

• Undergraduate degree preferred; 3+ years experience acceptable.
• Strong written and oral communication skills.
• Excellent interpersonal and client servicing abilities.
• Ability to manage concurrent assignments efficiently.
• Ability to work independently within a team environment.

Responsibilities

• Initiate loan activity (fundings, repricings, payments) per client instructions.
• Calculate and track interest and fee accruals across rate levels.
• Reconcile daily funding and payment activity with cash transactions.
• Read and interpret complex credit agreements; coordinate with attorneys.
• Initiate and reconcile automated funds movement per instructions.
• Monitor overdue amounts and ensure accurate invoicing in the loan system.
• Maintain margin changes and communicate to the bank group.
• Provide information to Clients, Business Partners, Middle Office, or Lenders.
• Monitor control reports and update comments as needed.
• Assist with administrative tasks related to Credit Agreements.
• Perform QA on new deals, restructures, amendments; verify system setup.
• Back up co-workers and support special projects.

Skills

Communication

Interpersonal skills

Analytical skills

Time management

Education

Bachelor's degree or 3+ years experience

Tools

LoanIQ

MS Office

Job description

Position Summary:

The Loan Servicing Associate supports the largest and most sophisticated corporate loan transactions in the market. They primarily provide operational support to Debt Capital Markets on Term Loan B/institutional debt where JPM is the administrative agent. 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, repricings, 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 escape 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