Innova Solutions is immediately hiring for a Loan Administrator Position type: 6+Months Contract Location: Jersey City, NJ W2 Only - As a Loan Administrator: In this role, you will: Looking for someone who has strong Loan Product experience working as an Admin Agent, particularly working with Syndicated Loans; Ability to work with loan operating systems (ACBS-strongly preferred, LoanIQ, etc.), they are moving away from ACBS over to LoanIQ, but this won't be completed for another few years) Needs to have experience working with Syndicated Loans, along with SOFR Rates (Secured Overnight Financing Rate); Not looking for someone with Mortgage loan or retail banking experience. It would be great if this candidate has experience working at one of the major banks. Job Description: The Loan Administrator is responsible for ensuring accurate and timely administration / servicing of the Bank's loan portfolio; ensures daily activity comply with state and federal laws, regulations and Bank lending policies and procedures; ensures department activities run smoothly; and provides a high level of customer relations and service LAU Consultant will assist in all phases of new Agency deal closing process wherein client's role is as Administrative Agent or direct lender. This includes providing expertise and guidance during pre-closing meetings, reviewing and providing comments on credit agreement and other closing documentation, coordinating funds flow, fee allocations and disbursement of funds and lender notification, and building deal in lending system. Attention to detail is imperative especially with complex transactions (i.e Project Finance, Securitization, etc.). AU Consultant will have exposure to and will handle various products such as ABL, equity fund finance and residential mortgage. PRINCIPLE DUTIES AND RESPONSIBILITIES: (1) General Duties * Act as Client's LAU representative in coordinating transactions between customers, Agent Banks, Participant banks, Front office, Americas Treasury Division (ATD) and other parties * Manage the administrative aspect of all New Deal Closings. Calculating, invoicing and disbursing all deal related fees. Coordinating movement of funds related to initial funding and closing. Work closely with Borrower and Bank Group. * Report to Management, Supervisors and Account Officer all transactions that require special handling or approval. Credit Arrangement Maintenance: * Independently manage administrative processes for complex loan deals as administrative agent, bilateral lender * Provide consultative support to Account Officers on operational deal structure issues * Review Document and Term Sheet / CA Booking Request in order to compare loan documentation to Credit Approval and ensure that the structure and content are identical; and to create or maintain Accurate Credit Arrangements in ACBS. Commercial Loan Maintenance: * Responsible for the daily maintenance of the commitment facilities including: monitoring borrowing status, prepare new borrowings, rollovers, rate sets, conversions, repayments and prepayments. * Calculate, invoice and disburse ongoing interest and fee payments from a Borrower and/or Lender perspective. This includes agency and amendment fees as well as all monthly and/or quarter end activity. * Maintaining and monitoring Fronting LC, Invoice Discounting and Risk Participations * Monitoring and distributing Financials when due * Interact with Treasury on rate settings for foreign currencies and USD loans * Responsible for verifying integrity of transaction * Accountable for ongoing quality, integrity and completion on all data Reconciliation: * Act as a trouble-shooter for deal management related problems * Communicate with treasury to confirm discrepancies in funding rates * Interact with customers for all cash movement activity * Reconcile statement to ledger entries Skills: * Five years or more of loan product experience as Administrative Agent * Experience with loan operating systems: ACBS, LoanIQ * Experience with specialized lending products (e.g. Asset Securitization, Leasing, Collateralized Loan Obligations, Project Finance, Loan Trading, and or Credit Derivatives, as necessary) * Experience with compliance in a lending area * Experience with collateral evaluation procedures * Proficient in management of lending products * Be thorough and accurate and demonstrate attention to details * Competent written and oral communications skills * Organizational skills and to work well under pressure * Ability to identify and solve problems * Knowledge of payment (FED, CHIPS, SWIFT) * ACBS knowledge is requTo view the full job description, click here