Loan Servicing Specialist

BC Forward; Newark (DE); On-site; USD 30,000 - 41,000; Full time

Job summary

BCforward is seeking a Loan Servicing Specialist to join our Newark, DE team on-site for an initial 6-month contract with potential for conversion. The role focuses on syndicated loan servicing, reconciliation, billing, and payments, requiring interpretation of credit agreements and strong client service.

You will handle fundings, accruals, and cash activity, read complex agreements, collaborate with attorneys, and ensure accurate processing and reporting for multiple lenders and clients.

Qualifications

• Experience with syndicated loan servicing and LoanIQ.
• Proficiency in Microsoft Excel, Word, and PowerPoint.
• Ability to interpret syndicated loan documentation and credit agreements.
• Strong analytical, problem solving, and judgment skills with critical thinking and organization.
• Ability to work independently in a team environment and manage concurrent assignments.
• Excellent oral and written communication and client service skills.
• Undergraduate degree preferred in Finance, Accounting, Business Management, Economics, or related field; or 3+ years related experience.

Responsibilities

• Initiate loan activity including fundings, repricings, and payments per client instructions and credit agreements.
• Calculate and track complex interest and fee accruals across changing lender distributions and rate levels.
• Reconcile daily funding and payment activity to ensure complete accounting of cash transactions.
• Read and interpret complex legal credit agreements and related documentation, collaborating with attorneys as needed.
• Initiate and reconcile automated funds movement in alignment with client and lender instructions.
• Monitor and escalation past due principal, interest, and fees and issue timely and accurate invoices.
• Maintain margin changes and communicate updates to the bank group.
• Respond to information requests from Clients, Business Partners, Middle Office, and Lenders.
• Monitor control reports and update applicable comments.
• Support administrative tasks associated with Credit Agreement terms.
• Perform quality control on new deals, restructures, and amendments by validating system setup against the credit agreement.
• Provide backup to team members and support special projects and assigned tasks.

Skills

Syndicated loan servicing

LoanIQ

MS Office

Credit agreements

Analytical thinking

Client service

Education

Finance/related degree or 3+ years experience

Job description

Job Title: Loan Servicing Specialist

Location: Newark, DE

Work Arrangement: 100% on-site

Duration: Initial 6 month contract with potential for conversion

Pay Range: $26/hr

About BCforward

BCforward is a leading global IT consulting and workforce solutions firm providing services and support to Fortune 500 and government clients. Founded in 1998, BCforward has grown with our customers needs into a full-service business solutions provider. With delivery centers and offices across North America and India, we take pride in building long-term relationships and delivering excellence through innovation, collaboration, and integrity.

Job Description

We are seeking a Loan Servicing Specialist to join our dynamic team. The ideal candidate will have strong experience in syndicated loan servicing, reconciliation, billing, and payments and a proven ability to interpret complex credit agreements, manage concurrent assignments, and deliver accurate client service.

Responsibilities:

• Initiate loan activity including fundings, repricings, and payments per client instructions and credit agreements.
• Calculate and track complex interest and fee accruals across changing lender distributions and rate levels.
• Reconcile daily funding and payment activity to ensure complete accounting of cash transactions.
• Read and interpret complex legal credit agreements and related documentation, collaborating with attorneys as needed.
• Initiate and reconcile automated funds movement in alignment with client and lender instructions.
• Monitor and escalation past due principal, interest, and fees and issue timely and accurate invoices.
• Maintain margin changes and communicate updates to the bank group.
• Respond to information requests from Clients, Business Partners, Middle Office, and Lenders.
• Monitor control reports and update applicable comments.
• Support administrative tasks associated with Credit Agreement terms.
• Perform quality control on new deals, restructures, and amendments by validating system setup against the credit agreement.
• Provide backup to team members and support special projects and assigned tasks.

Required Skills & Qualifications:

• Experience with syndicated loan servicing and LoanIQ.
• Proficiency in Microsoft Excel, Word, and PowerPoint.
• Ability to interpret syndicated loan documentation and credit agreements.
• Strong analytical, problem solving, and judgment skills with critical thinking and organization.
• Ability to work independently in a team environment and manage concurrent assignments.
• Excellent oral and written communication and client service skills.
• Undergraduate degree preferred in Finance, Accounting, Business Management, Economics, or related field; or 3+ years related experience.

Preferred Skills:

• Prior experience in banking or financial services, particularly client service.
• Internship experience for recent graduates and demonstrated stability in roles.

Why BCforward?

At BCforward, we believe in advancing lives and careers. When you join our team, we gain access to:

• Competitive compensation and benefits.
• Opportunities for growth with global clients.
• A supportive, inclusive culture that values innovation and people.
• Exposure to cutting-edge technologies and projects.

About Our Commitment

BCforward is an equal opportunity employer. We value diversity and are committed to creating an inclusive environment for all employees. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, sexual orientation, gender identity, national origin, age, disability, or veteran status.