Military Veterans are Encouraged to Apply.
Job Details: LOAN SYNDICATION ADMIN
WHAT IS THE OPPORTUNITY?
This position is responsible for administering and servicing syndicated and participated loan activity. Each administrator has complete responsibility for about 100 large Syndicated facilities handling everything from handling deal setup, collateral, guarantor, pricing, grid changes, advances, payments, fee computations and overall maintenance of the loans owned by the colleague. On Syndications that CNB originates, responsibilities include managing member bank and their share of fees, advances, payments and other loan information. Responsibilities include boarding all facilities in relation to syndications and participations, including but not limited to the commitments, notes, collateral and guarantors, ensuring loan packages meet regulatory requirements related to FIDICIA, audit, and bank policy, performing maintenance, calculations and adjustments on complex interest and fee accruals, establishing lead agent relationship with members and participants for terms on contract and verifying and funding all incoming funding requests from agent banks in a timely manner.
Residential Lending Division
Make a meaningful difference as a member of City National’s Residential Lending group. This is a great opportunity to grow your career with a stable and expanding organization while enhancing and retaining bank client relationships through competitive mortgage products and solutions with exceptional service and care.
WHAT WILL YOU DO?
- Services structured financing and participation loan activity. Establishes lead agent relationship with members and participants for terms on contract and conducts activities strictly conforming to agency relationship as specified in each contract. Anticipates, plans, and prioritizes competing demands and meet specific transactional timeframes. Errors or misses will incur penalties and loss of reputation for the bank.
- Understands all documentation pertaining to any participation and syndication, including the most complex Loan and Credit agreements. Fair knowledge of agency agreements and syndication marketplace is essential for this position.
- Ensures tax withholding requirements for foreign borrowers have been met and monitored periodically with appropriate documentation held in file.
- Verifies and funds all incoming funding requests from agent banks in a timely manner. Calculates, prepares, submits and collects LIBOR breakage costs to agent banks in case of structured deals and to borrowers in instances when CNB is the lead bank.
- Receives and accounts for all fees, charges and interest as and when due. Reconciles all revenue items and when necessary work with agent bank in reconciliation of transactions. Distributes fees, charges & income to participants in a timely manner. Ensures regulatory compliance on all aspects of loan servicing.
- Resolves customer/agent bank inquiries/disputes by troubleshooting and researching problems. Make recommendation to the Accounting Manager to enhance systems and streamline processing functions. Researches and resolves all accounting inquiries including but not limited to interest adjustments, breakage costs, fees on unutilized commitments and repricing options.
- Administers servicing of all complex production loans including maintenance of interest/fee reserves. Understands the applicable industry requirements and ensures proper follow-up when changes have occurred by communication and notification to appropriate personnel.
- Boards all records on system for the facility, including but not limited to the Account, Commitment, Notes, Fees, etc. Processes all renewals, modifications and maintenance transactions relating to these facilities. Makes decisions on fees/interest waivers when warranted and within established guidelines.
- Handles loans demonstrated in non-dollar currencies and work with International to hedge for spot/future contacts as needed. Knowledge of exchange rates, interest rates in other countries and international processing conventions is essential to the function.
- Assists with responding to various audits performed in the unit relating to the Syndication and Participation Desk.
- Maintains servicing files for each account and file all documentation in a timely manner.
- Maintains a proactive commitment to established bank programs, such as Community Reinvestment Act (CRA) and Affirmative Action.
- Complies fully with all Bank Operational and Credit policies and procedures as well as all regulatory requirements (e.g. Bank Secrecy Act, Know Your Client, Community Reinvestment Act, Fair Lending Practices, Code of Conduct, etc.).
WHAT DO YOU NEED TO SUCCEED
Must-Have*
- Minimum 5 years’ experience handling Commercial Loan facilities – boarding, maintenance, libor tranches, fee calculations, payments, advances etc.,
- Minimum 2 years’ experience with Syndications where CNB is a member working directly with the external agent bank.
- Minimum 5 years’ experience with Microsoft office suite ( word, excel, outlook etc.,)
Skills and Knowledge
*To be considered for this position you must meet at least these basic qualifications
The preceding job description has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job.
INCLUSION AND EQUAL OPPORTUNITY EMPLOYMENT
City National Bank is an equal opportunity employer committed to diversity and inclusion. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status or any other basis protected by law.
ABOUT CITY NATIONAL
We start with a basic premise: Business is personal. Since day one we’ve always gone further than the competition to help our clients, colleagues and community flourish. City National Bank was founded in 1954 by entrepreneurs for entrepreneurs and that legacy of integrity, community and unparalleled client relationships continues to drive phenomenal growth today. City National is a subsidiary of Royal Bank of Canada, one of North America’s leading diversified financial services companies.
Equal Opportunity Employer Minorities/Women/Protected Veterans/Disabled