Syndicated Loan Administrator
The Syndicated Loan Administrator (SLA) is responsible for the day-to-day activity of syndicated loans where Comerica is the administrative agent. They will have a dedicated portfolio of syndicated deals and work directly with external customers, bank participants and internal partners such as Loan Operations (LTS) and loan groups.
Position Responsibilities:
Oversee the daily administration of a syndicated loan where Comerica is the admin agent including advance requests, paydowns and rate options with borrower.
Work directly with the Borrower and RM/PM to handle any questions or problems which arise such as break-fundings, over-formula issues, multi-currency calculations, swaps etc.
Interface with, RM/PM, borrowers, attorneys, LTS (servicing, boarding, loan closers) and participant banks to successfully close and fund transactions following the parameters of the credit agreement.
Create and maintain spreadsheet files for each borrower to confirm accuracy of interest, balance, commitments and fee accruals to AFS.
Ensure unused fees are computed correctly by monitoring loan sweep and Letter of Credit activity.
Work with foreign currency loans, foreign wires, and the foreign exchange area.
On a monthly and quarterly basis, interface with borrowers, RM/PM and participant banks to ensure all principal, interest, and fees have been correctly calculated and loaded on the AFS system. * Prepare billings for borrowers and notifications for participants outlining payments of principal, interest and fees for the period. Track and report fee collections monthly for internal reporting purposes.
Address problem inquiries from loan groups, RM/PM and participant banks, and borrowers on a timely basis.
Work in a team environment with deadline oriented tasks.
Position Qualifications:
High school diploma or the equivalent (GED)
4 years of experience in banking/financial services
2 years of experience in utilizing Microsoft Office Products including Word, Excel and Outlook
Preferred Qualifications:
Some College Courses focusing on Accounting/Finance/Economics
2 years of experience in commercial loan processing
Work Best Category: Category B - 3-4 days in office on designated days/1-2 days remote Hours: 8:00am - 5:00pm Monday - Friday Salary: To Be Determined Based on Individual Experience
Comerica is proud to be an Equal Opportunity Employer - veterans/individuals with disabilities, committed to workplace diversity.
