Commercial Bank - Client Processing Specialist - Wholesale Lending Services - Newark, DE
JPMorgan Chase & Co.
Commercial Bank - Client Processing Specialist - Wholesale Lending Services - Newark, DE
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.7 trillion and operations worldwide. The firm is a leader in investment banking, financial services for consumers and small business, commercial banking, financial transaction processing, and asset management. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients under its JPMorgan Chase & Co brands. JPMorgan Chase & Co.is committed to providing a comprehensive set of benefits choices to meet different employee needs and lifestyles, which include choices such as Flexible Work Arrangements with periodic work from home and non-standard business hours, fully paid parental leave time, health care insurance and retirement benefits.
Commercial Banking serves more than 30,000 clients, including corporations, municipalities, financial institutions, and not-for-profit entities with annual revenues generally ranging from $20 million to $2 billion. The Firm's broad platform positions the Commercial Bank to deliver extensive product capabilities - lending, treasury services, investment banking, and asset management - to meet our clients' domestic and international financial needs.
General Summary:
Provides operational support to Investment Bank for syndicated credit structures agented by JPMorgan or bilateral loans extended to a borrower solely by JPMorgan. This position is responsible for administering a portfolio of approximately 30-40 syndicated accounts. The account manager has direct contact with borrowers, lenders, and business partners while performing loan servicing facets.
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 escalate 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
- Participate in system testing, as needed, which may occur during non-business hours
- 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:
- Education: Minimum undergraduate degree from an accredited university, preferably majoring in accounting, finance, economics or math. Related job and industry experience can be accepted as a substitute (2+ years)
- General to intermediate accounting knowledge
- Ability to manage concurrent assignments in an effective, efficient and organize manner
- Ability to work independently within a team environment
- Excellent oral and written communications skills and strong interpersonal/client servicing skills
- Strong analytical, problem solving and proven decision-making skills
- Solid working knowledge of Microsoft Office applications (i.e. Excel, Word and PowerPoint)
- Must have experience reading and interpreting loan documentation or related experience dealing with legal documentation
- Loan experience or loan operations is a plus
- Flexible working schedule with some overtime required
Keyword: consumer%20banking
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Posted: 2019-11-15 Expires: 2019-12-15
