Syndications Product Associate

IDB is looking for an Associate to join the Syndications Department. The individual will handle the daily administration of all facilities in which IDBNY is the administrative agent. Responsibilities include but not limited to the following:

• Will be responsible for supporting the Onboarding Process for new financial institutions and supporting account management activities for existing institutional clients.
• Coordinating closings with Loan Administration. Continue to assist in the ongoing portfolio management by providing post-closing agency services and acting as the primary liaison between the client and the lenders in the bank group. Liaise and coordinate pre-closing requirements with across all involved parties
• Assist with ad-hoc inquiries from Borrowers, Lenders, and Arrangers pertaining to the closing process and ongoing maintenance of the deal and schedule conference calls as needed to ensure pre-closing requirements have been met and resolve / escalate any outstanding issues
• Work on deal terms and help prepare syndications materials such as confidential offering memoranda, term sheets, lender presentations, financial models, and other materials. Ensure that all fiduciary responsibilities of the agent are performed including:
  • Delivery of financial information to lender group
  • Managing amendment requests put forth by the borrower
  • Acting as the conduit between the lender group and the borrower
  • Assist in the preparation of internal credit memorandums and underwriting of syndicated transactions to develop credit analytic and loan structuring skills
• Arrange lender meetings and calls
• Assist with various projects supporting Commercial Banking, specifically the Chief Lending Officer. Assist with pre-screen process as well as assist with ad-hoc projects for the Commercial Bank.
• Coordinating all requests with the Account Officer that require credit approval
• Work with Syndications Managers and coverage units to continue ongoing portfolio management of Agented transactions post-closing, including maintaining ongoing Administrative Agency functions such as maintaining data sites, ensuring timely financial reporting, responding to lender information requests/questions. Manage the data rooms for each agented deal (web-based platform), which includes:
  • Adding and removing new users
  • Uploading documents to the data rooms
• Execute routine audit (refresh) procedures to assure product data (internal and external) remains in sync
• Ensure all post close fees, revenue, and breaks are allocated and cleared
• Respond promptly to inquiries from internal business partners and external financial institutions

Requirements

• Undergraduate degree or equivalent experience and 2-3 years of Syndicated Loan (preferred) experience and understanding of financial services.
• Prior experience working with clients to collect and review loan documentation
• Proven ability to collaborate with team members and senior management across and within the lines of business with a keen attention to detail
• Strong oral and written communication skills, and strong analytical capability.
• Ability to operate in a challenging and rapidly changing environment with a desire to accept new assignments and the ability to learn new principles, ability to think outside the box
• Critical decision-making abilities including the ability to identify, escalate, and propose solutions to problems and ability to multi-task through the practice of strong organizational and time management skills
• Ability to take initiative and self-motivate, as well as work as part of a team

Technical Skills:

• Proficiency with Microsoft Office Suite (Excel, Word, and PowerPoint)
• Knowledge of Salesforce preferred
• Knowledge of Loan IQ preferred
• Knowledge of core banking systems, such as Jack Henry highly preferred

Compensation

The expected annual salary for this position is between $65,000 and $85,000 at the start of employment. A salary offer is determined on an individualized basis, taking into consideration factors such as an individual’s skills and experience. In addition to base salary, our total rewards package also includes eligibility for an annual bonus, medical, pharmacy, dental, and vision plans, life and disability insurance, employee wellness program, retirement and savings plans with employer contributions, generous holiday and paid time off schedules, parental leave, and tuition reimbursement.