Loan Servicing Associate

Cerberus • Full-time • New York, United States of America • 6d ago

Founded in 1992, Cerberus is a global leader in alternative investing with approximately $67 billion in assets across complementary credit, private equity, and real estate strategies. We invest across the capital structure where our integrated investment platforms and proprietary operating capabilities create an edge to improve performance and drive long-term value. Our tenured teams have experience working collaboratively across asset classes, sectors, and geographies to seek strong risk-adjusted returns for our investors. For more information about our people and platforms, visit us at www.cerberus.com.

Job Purpose:

This role is in the loan servicing department within the broader operations group. Most of the loans being serviced are Agented by Cerberus Business Finance Agency, LLC and are originated by our middle market lending group, Cerberus Business Finance.

Responsibilities & Deliverables:

Loan Servicing

Service broadly syndicated loans, some with as many as 50 different Lenders
Communicate in an appropriate and timely fashion with borrowers, participating lenders, and deal professionals
Process all life-cycle activity of loans and related securities, including but not limited to booking new transactions, principal payments, interest rollovers, etc.
Reading and understanding credit agreements and ancillary legal documentation
Work with multiple fund administrators to reconcile positions, P&L and cash breaks
Perform daily book vs broker cash reconciliation in the Intellimatch system
Work with Borrowers and deal professionals for daily Revolver activity
Input wires for loan settlement onto Kyriba treasury system in timely manner
Compute IRR calculations

Other

Working closely with deal professionals, auditors, borrowers, lenders, participants, trustees, legal teams, tax, treasury, and accounting and our leverage finance teams to provide highest standards of service through the full lifecycle of the security
Analyze P&L, including realized and unrealized calculation, calculating FX P&L on foreign securities, interest accrual calculations as well as cost relief analysis
Coordinate closing flow of funds, making sure there is available cash by fund for settlement and working with treasury to make sure all wires are executed

Key Requirements:

1-5 years' experience in Loan Operations and/or Accounting using Wall Street Office
Familiar with WSO Administrator/Agent, VPM, SAP-Business Objects is a plus
Excellent communications skills both verbal and written are needed as well as strong problem solving skills
Attention to detail, organized, strong Excel skills, use of vlookups, if statements and pivots
Can operate in a fast-paced environment and is open minded to help improve processes
Strong background and work experience in middle market lending environment
Understanding of pro-rata, weighted average cost of paydowns
Understanding P&L, Economic Benefit, Delayed Comp Fees, Par vs. Distressed Loans, PIK loans
Understanding of loan accounting in accordance with GAAP

The base salary for this position is expected to be between $90,000.00 and $100,000.00. The base salary offered to the chosen candidate will be commensurate with a candidate’s relevant experience and other qualifications for the position, as determined by the Company in its sole discretion. In addition to base salary, this position is eligible for an annual discretionary bonus, which is often a meaningful portion of the compensation package, and a robust benefits package.