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Loan Servicing Associate – New York, Ny

Company

Cerberus Capital Management
Address , New York, 10022, Ny
Employment type FULL_TIME
Salary
Expires 2023-06-16
Posted at 1 year ago
Job Description
Founded in 1992, Cerberus is a global leader in alternative investing with approximately $60 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.
Job Purpose:
This role is in the loan servicing department within the broader operations group. The loans being serviced are Agented by Cerberus Business Finance Agency, LLC and are originated by our middle market lending group.
Responsibilities & Deliverables:
Bank Debt/Loan Settlements:
  • Analyze P&L, including realized and unrealized calculation, calculating FX P&L on foreign securities, interest accrual calculations as well as cost relief analysis
  • Support trade settlement activity for multiple desks
  • Work with multiple fund administrators to reconcile position and P&L breaks
  • Work closely with deal professionals, auditors, legal teams, tax, treasury, accounting, and participants on a daily basis to work out any existing issues and make sure our books are updated correctly on a timely basis
  • Understand how to read relevant loan documents such as credit agreements, assignment agreements, funding memos, agent notices, etc.
  • Daily cash reconciliation for all settlement related activity
  • Manage the trade settlement process for both par and distressed trades from start to finish; includes but is not limited to: finalizing trade details with the desks, reconciling ClearPar, working with counsel and counterparties to iron out any differences, calculating all trade-related fees such as delayed compensation and cost of carry, coordinate closing flow of funds and working with Treasury to make sure all wires are executed, updating WSO with all relevant loan details
Key Requirements:
  • Does well in a fast-paced, high-pressure environment
  • Comfortable with ClearPar and WSO Administrator/Agent and Excel; SAP-Business Objects and VPM are a plus
  • Highly organized and strong attention to detail
  • Understanding P&L, Economic Benefit, Delayed Comp Fees, Par vs. Distressed Loans, PIK loans, FIFIO/ how to relieve cost lots
  • Loan Servicing experience a plus
  • Excellent communication skills (both written and verbal)
  • Understanding of upstreams vs. downstreams, trades inventory
  • 5 years’ experience in Loan Settlement Operations
The base salary for this position is expected to be between $75,000.00 and $90,000.00. 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.