Loan Portfolio Servicing Representative (BBBH11376) Livingston, New Jersey

This 100 year old financial company with more than $35 billion in finance and leasing assets is a member of the Fortune 500. It provides financing and leasing capital to its more than one million small business and middle market clients and their customers across more than 30 industries. They put a premium on finding people that they can convert into full time employees.

Responsibilities:

  • Maintain and work in systems: a proprietary system and Shaw, a commercial Loan Receivables System.
  • Review daily work of colleagues for accuracy. Conduct UAT testing enhancements to each System. Placing loans on Non-Accrual or returning to Accural, Risk Rating Changes (PD and LGD), 1098 and 1099 Reporting.
  • This is in addition to the Group's other Data Maintenance duties of Name, Address and Contact info changes; ACH changes, set ups and deletions, Ownership/Guarantor additions, corrections and deletions.
  • Additionally, the Group is responsible for Booking new loans and fundings, all loan modifications (i.e. deferments, due date changes, term extensions, assumptions, changes in corporate structure), charge-offs, all UATs in system, as well as some of the SBMS and SAMS enhancements.
  • All data maintenance is restricted to only the Portfolio Data Maintenance Group and Cash Operations, which ensures the integrity of the systems.
  • Booking loans and partial fundings
  • Check voids for fundings (this is a 4 to 5 day process in Shaw)
  • Closer Modification Agreements - Cap Loans, Loan increases
  • Converting loans from interest only to P&I " Term Extensions
  • Deferments
  • Assumptions
  • Guarantor Substitutions
  • Due Date changes (from 1st to 15th)
  • Legal Name Changes
  • Push outs
  • Secondary Market Maintenance
  • Reconcile Fundings with Accounting daily
  • Address Changes
  • ACH Set ups, changes and removals
  • ACH letters (mail merge)
  • Suppress Bills
  • Stop Codes
  • PD and LGD scores
  • Non Accruals and return to Accruals
  • Creating "parts" for SBA Guaranty repurchases
  • Non Monetary Changes to loans (collector code assignments and SBA status changes)
  • Charge offs
  • Participation adjustments and corrections
  • Formal reconciliation of maintenance transactions, daily
  • UAT for all Shaw fix packs and enhancements to SBL's proprietary systems Candidate should have some accounting knowledge/experience
  • Experience running SQL queries a plus.

    Approx. Duration: 6 months

    About Hired By Matrix

    For more than 25 years, Hired by Matrix has been providing temporary and long-term contract staffing solutions to Fortune 1,000 as well as mid-market companies nationwide. Our clients include major pharmaceutical, delivery & logistic, business information, financial and entertainment companies. The technology that we support is as diverse as our clients. We provide consultants with experience in mainframe legacy technology all the way to cutting edge technologies, like web and mobile application development. Our consultants are in roles that include Project Managers, Architects, Business analysts, QA, developers and infrastructure & network specialists. At the request of our clients we have broadened our capabilities across a variety of different areas, including: finance and accounting, R&D, clinical sciences and administrative. And as a woman-owned, WBENC-certified business we’ve helped companies grow their Supplier Diversity spend which is certainly a nice added benefit as well.

    Our extended network of qualified contract professionals offers nationwide contracting capabilities.

    Our dedicated team of account managers and recruiters collaborates closely with each of our clients to understand their staffing needs, corporate requirements and company cultures before building robust, fully customized pipelines of highly-qualified contract professionals in response.